Known for its untamed scenery and outdoor pursuits, Wyoming also has some upscale areas with extremely high costs of living. These five locations, which range from opulent retreats to charming mountain communities, are notable for their exorbitant costs.
Here, we delve into Wyoming’s opulent side, where pricey views are the only perk. Come along with us as we explore the most costly areas of the Cowboy State, whether you’re thinking about moving there or you’re just interested.
| Neighborhood | Population | Median Home Value | Median Income | Median Rent |
| Cody | 10,081 | $469,664 | $67,764 | $964 |
| Jackson | 10,748 | $2,066,686 | $101,477 | $1,614 |
| Powell | 6,460 | $392,071 | $62,899 | $797 |
| Rock Springs | 23,361 | $264,064 | $75,863 | $925 |
| Gillette | 33,158 | $310,582 | $90,415 | $900 |
Cody
The town of Cody, which has 10,081 residents, has a typical home value of $469,664, indicating a steady and somewhat well-off housing market.
In spite of this, Cody’s typical income is $67,764, indicating a large discrepancy between potential earnings and property values.
In contrast, the $964 median rent suggests that housing prices may be somewhat expensive when compared to income levels. Cody’s 3.1% unemployment rate is comparatively low in spite of the economic downturn, indicating a strong labor market.
But more work needs to be done because Cody’s poverty rate is 9.1%, meaning that some of the city’s residents are struggling financially.
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Jackson
Jackson, a vibrant community with a population of 10,748, boasts a median home value of $2,066,686 and a median income of $101,477. However, the cost of living in Jackson is 1.5 times higher than the national average, standing at 149.
Despite this, the median rent remains relatively affordable at $1,614. With an impressively low unemployment rate of 0.8%, Jackson offers economic stability to its residents.
Moreover, the poverty rate in Jackson is notably low at 5.3%, reflecting a strong socioeconomic landscape and opportunities for prosperity within the city.
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Powell
Powell, a town of 6,460 people, has a typical income of $62,899 and a median home value of $392,071. At 102.1, its cost of living index is 1.0 times greater than the national average.
Powell renters usually pay $797 in rent on average. On the other hand, the region faces a 13.6% poverty rate and an unemployment rate of 6.4%.
Powell’s gorgeous surroundings and chances for expansion and improvement make it a desirable travel destination even in the face of these difficulties.
Read More: This Wyoming Town Celebrated for Its Beauty Among ‘Most Beautiful’ Places in the US
Rock Springs
With 23,361 residents, Rock Springs has a median house value of $264,064 and a typical income of $75,863. The median rent for individuals in the market to rent is $925.
In spite of these rather steady economic statistics, Rock Springs’s unemployment rate is still 5.4%. Furthermore, the city faces a 13.4% poverty rate, which reflects persistent socioeconomic difficulties in the neighborhood.
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Gillette
The population of 33,158 in Gillette is reported to have a median income of $90,415 and a median home value of $310,582. Living in Gillette is 1.0 times less expensive than the national average, with a cost of 100. The area’s median rent for tenants is around $900.
Gillette keeps its unemployment rate low at 3.6% even with a comparatively low cost of living. Furthermore, Gillette has a 9.7% poverty rate, which suggests that the local economy is relatively solid.
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To Conclude
While Wyoming has breathtaking landscape, there’s a big difference in cost between luxurious resorts and quaint communities. Although areas like Powell and Cody have amazing views, the exorbitant expense of housing there can be a barrier.
Conversely, Jackson offers financial security and a thriving labor market, albeit at a high cost. Despite certain socioeconomic difficulties, Gillette and Rock Springs provide a more balanced approach at a respectable price. The decision ultimately comes down to your priorities.
If you’re on a tight budget but yet want to be in magnificent nature, Wyoming’s upmarket neighborhoods don’t disappoint. It could be wiser to look at other areas of the state, though, if cost is a big issue.
