Compare different loan terms using your home price of $350,000 with $70,000 down at 6.8%.
15-Year Fixed
$2,401/mo
Total interest: $152,141
Total cost: $432,141
Save $221,646 vs 30-year
20-Year Fixed
$2,088/mo
Total interest: $221,025
Total cost: $501,025
Save $152,762 vs 30-year
30-Year Fixed (Current)
$1,816/mo
Total interest: $373,787
Total cost: $653,787
Lowest monthly payment
Pro
Professional Simulator
Complete financial model: closing costs breakdown, rent vs buy, inflation-adjusted returns, true cost of ownership
years
%
%
%
%
10-Year Net Gain/Loss
-$173,685
After selling in year 10 at $493,710
Total Paid Over Hold Period
$398,929
Down + closing + all payments
Home Value at Sale
$493,710
3.5%/ yr appreciation
Selling Costs
$29,623
6% of sale price
Net Sale Proceeds
$225,244
After mortgage payoff + selling costs
Real Interest Rate
4.25%
Nominal 6.8% - inflation 2.5%
Real Monthly Payment
$1,254
Today's dollars (mid-loan)
State Property Tax
$5,600
TX rate: 1.6%
True Monthly Cost
$2,499
PITI + HOA + maintenance
Buying a Home in Wyoming
Wyoming is one of the most tax-friendly states in the country — no income tax, no estate tax, low property taxes, and a state budget funded largely by mineral severance taxes. With an average home price of $310,000, it sits at a moderate level nationally, though this average conceals enormous variation between Wyoming's two dominant market types: the ultra-luxury resort market of Teton County (Jackson Hole) and the more affordable energy and government towns across the rest of the state.
Jackson Hole and Teton County represent one of the most expensive real estate markets in the United States, with median prices regularly exceeding $2–3 million and driven by proximity to Grand Teton National Park, world-class skiing at Jackson Hole Mountain Resort, and the purchasing power of ultra-high-net-worth second-home buyers from across the country. The local workforce — service workers, ski industry employees, healthcare workers — struggles enormously with housing affordability due to this dynamic.
For buyers looking at the rest of Wyoming, Cheyenne (the state capital) and Casper offer solid mid-size city amenities at prices well below the state average. Laramie, home to the University of Wyoming, provides a college-town market with stable demand. Energy towns like Gillette have housing markets more sensitive to coal and oil prices, creating cyclical patterns. Wyoming's combination of no income tax and low property taxes creates an exceptionally favorable cost-of-ownership environment for most buyers outside of the Teton County luxury tier.
Key Housing Facts for Wyoming
Average home price: $310,000
Average effective property tax rate: 0.55%
Average homeowners insurance: $1,000/year
No state income tax, no estate tax
Luxury market: Jackson Hole / Teton County ($2M+ median)
Accessible markets: Cheyenne, Casper, Laramie, Gillette, Rock Springs
Frequently Asked Questions
Wyoming's average effective property tax rate is approximately 0.55%, one of the lowest in the Mountain West. On a $310,000 home, you'd pay roughly $1,705 per year in property taxes. Wyoming also has no state income tax, making it one of the most tax-friendly states in the country for homeowners. Mineral extraction revenues fund much of the state government, reducing the burden on property and income taxes.
No. Wyoming has no state income tax, no state corporate income tax, and no inheritance or estate tax. The state is funded primarily by mineral severance taxes (on coal, oil, and natural gas extraction). This creates one of the lowest overall tax environments of any state, making Wyoming particularly attractive to high-income earners, retirees, and wealth preservation-focused individuals.
Wyoming Community Development Authority (WCDA) offers the Standard First Mortgage program with competitive interest rates and the Amortizing Down Payment Assistance program providing up to $15,000 at a 3% interest rate as a second mortgage. The Home$tretch program offers additional closing cost assistance. Income and purchase price limits apply and vary by county in this large-geography state.
Wyoming has two very distinct market segments. The resort and energy markets — Jackson Hole, Teton County, and Sublette County — operate at luxury price points, with Teton County having some of the highest median home prices in the entire country (often $2–3 million) driven by proximity to Grand Teton and Yellowstone national parks and ultra-high-net-worth buyers. Energy towns like Gillette, Casper, and Rock Springs operate at entirely different, blue-collar price points tied to coal and oil markets. Cheyenne and Laramie are more diverse markets anchored by government and the University of Wyoming.