Best Affordable Places to Live in Wyoming in 2025
(Last Updated – 03/2025)
With big skies, low population density, and no individual state income tax, it’s no surprise Wyoming beckons. Still, some Wyoming cities (like Casper) are more affordable than others (like Jackson). Fortunately, we’ve combed data including housing values, rent prices, median incomes, and more to gather the best Wyoming cities for the budget-conscious — no matter your stage of life.
Best Places to Live in Wyoming
The wide-open west is welcoming for your wallet; Wyoming as a state enjoys a lower cost of living than the national average, but higher than its neighbor Montana. Ready to find a place for yourself amidst the snow-capped mountains? From Wyoming’s biggest, most bustling cities — which are still moderately sized, in the scheme of things — to quaint little burgs with plenty of growth opportunity, here are the most affordable cities in Wyoming.
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Best Affordable Places to Live in Wyoming
These three Wyoming cities get the spotlight as the most affordable — and coolest — spots to call home.
1. Casper
Photo credit: iStock/DenisTangneyJr
Although its population doesn’t quite reach 60,000, Casper is Wyoming’s second-largest community — and it offers a great combination of big-city amenities with a small-town feel. With job availability in the energy and health care sectors, plenty of different types of people can find opportunities, and the city is home to the annual Central Wyoming Fair and Rodeo among other cultural to-dos. For outdoor fun, there’s easy access to Casper Mountain and Alcova Reservoir, among other pursuits. Plus, it’s got one of the lowest costs of living in the state.
Population: 58,720
Median Household Income: $69,171
Cost of Living: 86% of U.S. average
Average Rent Price: $1,100
Home Price-to-Income Ratio: 4.2
2. Cheyenne
Photo credit: iStock/DenisTangneyJr
Wyoming’s largest city still boasts well under 100,000 people, but is home to all the big-city amenities and attractions you’d expect of the state’s capital. Residents and visitors alike can check out the Botanic Gardens and Wyoming State Museum, not to mention the career opportunities offered in its bustling downtown. Finally, both Nebraska and Colorado are near at hand whenever a change of scenery is called for.
Population: 65,168
Median Household Income: $77,176
Cost of Living: 99% of U.S. average
Average Rent Price: $1,375
Home Price-to-Income Ratio: 4.7
3. Gillette
Photo credit: iStock/Brittany Grant
Originally founded back in 1891 as a railway town, Gillette has come a long way: With a population of more than 33,000, it’s the third-largest city in Wyoming behind Cheyenne and Casper. Fossil fuels are a large part of the boom — and to this day, energy remains the community’s largest industry. It’s also close to natural attractions like Keyhole State Park and Devil Tower for outdoor recreation enthusiasts.
Population: 33,496
Median Household Income: $90,699
Cost of Living: 85% of U.S. average
Average Rent Price: $1,150
Home Price-to-Income Ratio: 3.8
Best Places to Live in Wyoming for Families
Everything’s a little different once you’ve got little ones along for the ride. Good news: There are plenty of communities in Wyoming that are welcoming to families.
1. Sheridan
Photo credit: iStock/DC_Colombia
A small-town feel and affordable rents put Sheridan at the top of our list for families looking for a place to settle in Wyoming, and highly ranked public schools will also be attractive to those with children. Plus, with multiple public parks (complete with playgrounds), access to the vast wilderness of the Bighorn National Forest, and plenty of kid-friendly museums, there’s much to learn, see, and do in Sheridan — at any age.
Population: 19,543
Median Household Income: $61,598
Cost of Living: 89% of U.S. average
Average Rent Price: $1,550
Home Price-to-Income Ratio: 6.7
2. Green River
Photo credit: iStock/Robert_Ford
A small town tucked into the southwestern corner of the state, only about two and a half hours’ drive from Salt Lake City, Green River is the kind of place where you can get to know all your neighbors — and as they say, it takes a village. Plus, it’s right next to the Flaming Gorge National Recreation Area, so opportunities to play outside abound.
Population: 11,496
Median Household Income: $85,399
Cost of Living: 78% of U.S. average
Average Rent Price: $899
Home Price-to-Income Ratio: 3.4
3. Evanston
Photo credit: iStock/BOB WESTON
It’s not news that raising kids is expensive — so a town with a cost of living 18% less than the national average gives parents a significant leg up for footing the bill. Parks, playgrounds, and family-friendly activities give families plenty to do outside of work and school, all in a close-knit, small-town environment.
Population: 11,807
Median Household Income: $76,569
Cost of Living: 82% of U.S. average
Average Rent Price: $1,240
Home Price-to-Income Ratio: 3.7
Best Places to Live in Wyoming for Young Adults
For young adults hoping to mingle, network, and get themselves established, Wyoming has more to offer than might initially meet the eye. Here are some of the best communities in the state for 20- and 30-somethings.
1. Casper
Photo credit: iStock/DenisTangneyJr
Again, Casper finds its way onto our list — but with one of the largest populations in the state coupled with one of the lowest costs of living, it’s inarguably a solid choice for those looking to get a start in life. A variety of museums and cultural events make great first-date spots (and for some, employment opportunities), while the median age of 37 means young adults can find plenty of peers.
Population: 58,720
Median Household Income: $69,171
Cost of Living: 86% of U.S. average
Average Rent Price: $1,100
Home Price-to-Income Ratio: 4.2
2. Cheyenne
Photo credit: iStock/DenisTangneyJr
With a perfect combination of outdoorsy opportunities and in-town to-dos, Cheyenne truly offers something for everyone — including young adults. As this is the state capital, those interested in going into government positions will find ample opportunities, while the health care and education industries offer alternate career paths.
Population: 65,168
Median Household Income: $77,176
Cost of Living: 99% of U.S. average
Average Rent Price: $1,375
Home Price-to-Income Ratio: 4.7
3. Rock Springs
Photo credit: iStock/tristanbnz
Looking for a slower pace of life? For young adults ready to move to a smaller community, Rock Springs may offer a soft landing pad. Along with its very low cost of living, the town offers a brief commute to other communities like Green River and Evanston, so there’s even more opportunity to mix, mingle, and explore.
Population: 22,954
Median Household Income: $73,307
Cost of Living: 82% of U.S. average
Average Rent Price: $899
Home Price-to-Income Ratio: 3.8
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Best Places to Live in Wyoming for Retirees
Retiring amidst the Wyoming mountains sounds like a dream for many — especially since the Cowboy State doesn’t tax retirement benefits. Given its low cost of living, Wyoming may be a feasible place for those on a fixed income to hang their hat in their golden years — especially these affordable communities.
1. Rawlins
Photo credit: iStock/BOB WESTON
Small-town living with all the basics covered — and a cost of living some 20% lower than the U.S. average — makes Rawlins an option that beckons to some retirees. The Carbon County seat is home to attractions like the Wyoming Frontier Prison Museum, along with the dog-friendly Rawlins Spring Park for afternoon walks. The Rawlins Senior Center hosts Tai Chi classes as well as games of Bunco, cribbage, and bingo.
Population: 8,032
Median Household Income: $69,912
Cost of Living: 81% of U.S. average
Average Rent Price: $785
Home Price-to-Income Ratio: 2.7
2. Torrington
Photo credit: iStock/fotoguy22
An extremely small-town option with a high percentage of seniors, Torrington offers retirees the chance to feel at home in that “everybody knows your name” kind of way. Plus, a cost of living 16% lower than the national average makes living on a fixed income more feasible.
Population: 6,212
Median Household Income: $53,393
Cost of Living: 84% of U.S. average
Average Rent Price: $900
Home Price-to-Income Ratio: 4.3
3. Gillette
Photo credit: iStock/Brittany Grant
For retirees who still want the resources of a mid-sized city — but are also looking for the reduced living costs of a smaller town — Gillette offers a meet-in-the-middle compromise. With plenty of things to do (including the well-kept greenery of the Bell Nob Golf Course), Gillette makes it easy to stay active.
Population: 33,496
Median Household Income: $90,699
Cost of Living: 85% of U.S. average
Average Rent Price: $1,150
Home Price-to-Income Ratio: 3.8
Best Places to Live in Wyoming Near the Mountains
Looking to live in the shadows of purple mountain majesties… or just like to shred come wintertime? Wyoming has plenty of opportunities.
1. Cody
Photo credit: iStock/Danielrao
Given Cody’s proximity to Yellowstone National Park — the first national park not only in America, but the world, by the way — we couldn’t fail to include it on this list. Plus, a cost of living 16% lower than the U.S. average means this mountain paradise is accessible to many.
Population: 10,240
Median Household Income: $68,676
Cost of Living: 84% of U.S. average
Average Rent Price: $1,750
Home Price-to-Income Ratio: 7.1
2. Rawlins
Photo credit: iStock/BOB WESTON
Within an easy drive of Medicine Bow-Routt National Forest and the North Platte River, Rawlins offers sweeping countryside views and excellent outdoor to-dos. And you don’t even have to go far: Nearby Rawlins Peak is a common quick hike you could do in an afternoon.
Population: 8,032
Median Household Income: $69,912
Cost of Living: 81% of U.S. average
Average Rent Price: $785
Home Price-to-Income Ratio: 2.7
3. Riverton
Photo credit: Flickr/Jimmy Emerson, DVM , Creative Commons Attribution-NonCommercial-NoDerivs 2.0 Generic
As Riverton’s name suggests, a river really does run through it — and it doesn’t take too much driving by Wyoming standards to get into the mountains. In fact, Moran, tucked into the heart of the Tetons, is just a two-hour drive away, and the sweeping views of other ranges are much closer.
Population: 10,923
Median Household Income: $56,280
Cost of Living: 80% of U.S. average
Average Rent Price: $800
Home Price-to-Income Ratio: 4.4
The Takeaway
Wyoming is awash with beautiful, affordable cities and towns for people of all different backgrounds and lifestyles. Whether you’re looking for a place to raise your family or you’re a young adult ready for a fresh start, check out affordable Wyoming options like Casper, Cheyenne, and Laramie.
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FAQ
Where is the best and cheapest place to live in Wyoming?
The most affordable major metro in Wyoming is Casper, with a cost of living some 14% lower than the U.S. average and a population of just under 60,000. Cheyenne, the state capital, is a culturally vibrant city of about 65,000 with a home-price-to-income ratio (4.7) that’s only slightly higher than Casper’s (4.2).
Where is the best place to live in Wyoming?
Everyone has their own definition of best, but for families with kids, Sheridan offers a great mix of outdoor activities and well-regarded schools, at a cost of living that’s just 89% of the national average. For those hoping for as much city hustle-bustle as possible, the capital city of Cheyenne might beckon.
What city in Wyoming has the lowest property taxes?
Wyoming has an average property tax of 0.58%, lower than two-thirds of U.S. states, so any city here will be better than many cities elsewhere. The tax rate varies by county, and Teton County (the state’s highest-income county and home to the city of Jackson) boasts one of the lowest; the median effective rate is 0.39%.
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