Income needed to buy a house in Wyoming
A median-priced home in Wyoming costs $339,500. With 20% down you'd need about $92,251 a year, $16,719 more than the state's median household income of $75,532. Wyoming ranks #24 of 51 for the lowest income needed.
Income needed: $92,251 a year
Defaults: state median home value and property tax (Census ACS 2024), median homeowners insurance paid by owners with a mortgage (Census ACS 2024; quotes vary by home and ZIP code), 30-year rate 7.24% (Freddie Mac, week of 2026-10-29).
Estimated household income: about $92,251 a year for a $339,500 home in Wyoming with $67,900 down.
Uses a 28/36 planning rule: modeled housing costs at 28% of gross income, housing plus other debt payments at 36%. Mortgage approval depends on the lender, loan program, credit and other circumstances. Excludes maintenance, repairs and utilities.
| Monthly cost | Amount |
|---|---|
| Principal & interest | $1,851 |
| Property tax | $162 |
| Homeowners insurance | $139 |
| Total | $2,153 |
Monthly cost by down payment
| Down payment | Cash down | Monthly cost | Income needed |
|---|---|---|---|
| 5% | $16,975 | $2,634 | $112,884 |
| 10% | $33,950 | $2,511 | $107,623 |
| 20% | $67,900 | $2,153 | $92,251 |
Income benchmarks use the 28/36 planning rule with no HOA or other debt payments. Mortgage approval depends on the lender and loan program. Monthly costs exclude maintenance, repairs and utilities. Under 20% down includes estimated private mortgage insurance of 0.5% of the loan per year.
Buying in Wyoming: what's different
- Transfer tax
- None
- On the median home
- $0
- Homestead break
- 25% off the first $1M
- First-time buyer help
- Wyoming Community Development Authority
- Transfer and recording taxes. Wyoming has no transfer tax; the buyer files a confidential statement of consideration with the county.
- Property tax breaks for your home. Owners who live in the home at least eight months a year can claim a 25% exemption on the first $1 million of its value by filing an affidavit with the county assessor; the 2026 deadline was March 1. On the ballot: A citizen initiative going to voters on November 3, 2026 would exempt 50% of the assessed value of a primary residence's dwelling for owners who have lived in Wyoming for at least a year.
- First-time buyer help. The Wyoming Community Development Authority offers mortgages and down payment help for first-time buyers through participating lenders. Check its site for income and price limits.
Checked against official sources on September 25, 2026. Local transfer taxes and exemptions vary, so confirm with the county before you close.
Home prices in Wyoming's largest metro area
| Metro area | Income needed | Median home value | Median household income |
|---|---|---|---|
| Cheyenne, WY | $100,749 | $372,400 | $83,258 |
The median home in the Cheyenne area is worth $372,400, 10% more than the statewide median, and takes about $100,749 a year to buy with 20% down.
Metro medians from Census ACS 2024 cover the whole metro area, including any part in a neighboring state. Income needed: 20% down at 7.24%, the metro's median property tax and its main state's median homeowners insurance for homes with a mortgage (Census ACS 2024), under the 28% rule.
What makes owning in Wyoming about average among states
- Home prices: the median value of $339,500 is 6% below the U.S. median of $360,600.
- Property tax: about 0.57% of value a year ($162 a month on the median home).
- Insurance: owners with a mortgage paid a median $1,672 a year for homeowners insurance in 2024 (Census ACS). Premiums have risen in most states since then, and they vary a lot by home and ZIP code, so get quotes.
- Mortgage rate: each 1-point rise in rates adds roughly $188 a month on this loan.
12 states need at least 20% less income to buy their median home. States with a similar income requirement:
Frequently asked questions
How much do you need to make to buy a house in Wyoming?
About $92,251 a year for the median home of $339,500 with 20% down at 7.24%. With 10% down it's about $107,623.
What is the property tax rate in Wyoming?
The median Wyoming homeowner pays $1,947 a year, about 0.57% of the median home value (Census ACS 2024). Rates vary by county and city.
Is it cheaper to rent or buy in Wyoming?
Median rent is $998 a month, while owning the median home costs about $2,153 a month with 20% down, before maintenance. Renting affordably takes about $39,920 a year under the 30% rule.