Living Affordability
If affordability is an important factor for you then living in Wyoming just got a little easier. Wyoming has the 14th lowest cost of living in the US. While inexpensive housing plays a large role in this it’s not the only factor driving living costs down. Wyoming has the 9th least expensive utility bills in the country including electricity, internet, gas, water, & streaming.
Taxes and Business Climate
One of the biggest pros of living in Wyoming is its low taxes. There is no individual income tax, corporate state income tax, or retirement income tax. Property taxes are among the country’s lowest, with a low 4% state sales tax rate. Wyoming’s overall ranking on the Tax Foundation’s State Business Tax Climate Index is 1st, making it an attractive option for those looking to save money.
Natural Beauty and Urbanization
The limited effects of urbanization mean that most of the state is undeveloped, and the vast majority of Wyoming residents live within view of unspoiled mountains, forests, plains, and lakes. Yellowstone National Park holds a place of honor in the state, along with several other national and state parks.
Shopping and Travel Challenges
Shopping can be a challenge when living in Wyoming. Because the population centers of the state are so low in total numbers, it can be challenging to find something at times if you are in the market for a niche product. Although you still have access to all of the major retail chains when living here, you will find limited choices for specialty items.
Traveling is easy in Wyoming.
what are the negatives of living in wyoming?
Negatives of Living in Wyoming
- Winter can be a year-long experience when living in Wyoming.
- Young people leave the state in droves every year.
- The isolation of living in Wyoming.
- Shopping can be a challenge when living in Wyoming.
- Traveling requires some long drives living in Wyoming.
- Wyoming lacks diversity.
- The wind makes living in Wyoming tough.
- Winters are brutal.
- Small town life can be a tough adjustment.
Living Wage in Wyoming
The median necessary living wage across the entire US is $67,690. The state with the lowest annual living wage is Mississippi, with $58,321. The state with the highest living wage is Hawaii, with $136,437.
Cost of Living Comparison
Generally, the cost of living in Wyoming is low, but certain cities offer far much cheaper rent. You can get the most affordable rent in Rock Springs, Gillette, Cheyenne, Casper, and Laramie. A studio apartment could cost as little as $466 in some places, and a one-bedroom apartment as cheap as $677 per month.
Expenses Overview
Cost of Living Index
An amount below 100 means Wyoming is cheaper than the US average. A cost of living index…
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| What’s bad about Wyoming? | |
| Why is Wyoming so empty? |
Comfortable Living Costs
Known for its views, Wyoming offers so much more on top of Yellowstone National Park. With an overall cost of living slightly below the national average in the state’s larger cities and plenty of small-town living for the taking, Wyoming is an affordable place to call home. There’s no shortage of wide open spaces, but there are also plenty of opportunities for work, a low crime rate and more outdoor activities than you can list off the top of your head. Sales taxes in Wyoming are the third-lowest in the country, besides the 5 states that have none. It is easier to eyeball how much your spending will cost in Wyoming due to consistent tax rates.
Based on the estimates listed above (plus a few other anticipated expenses), a single adult working full-time in Wyoming will need to earn at least $31,720 per year, or $15.25 per hour, to live relatively comfortably. In contrast, a family of four requires a minimum income of $90,022 annually, or $43.28 per hour, in order to live comfortably.
Jackson Hole Wyoming ski slopes with panorama of houses in the background. Hopefully enough money to cover some of Wyoming’s everyday pleasures.