A Guide to the Cost of Living in Wyoming

iStock.com/Ingo Dörenberg

Wyoming is in the western mountain region of the United States. It is the 10th largest state but the least populated in the country. The state has a stunning landscape characterized by breathtaking mountains, lush wilderness, and rock formations. Every year, thousands of tourists visit to enjoy the spectacular scenery. When you come here, you will appreciate the beauty of nature and the low cost of living in Wyoming.

The state has a rich history. Its name comes from an Amerindian word which translates as “in the immense plain”. The Lenape Native Americans became the first to use the name Wyoming Valley. Wyoming was the first state to grant women the right to vote in 1869.

What’s the cost of living in Wyoming?

Many families have moved to the state due to the boom in oil and gas and trona production companies, attracted by well-paying jobs and a low cost of living. The state has the largest deposits of trona in the world. Trona is refined into sodium carbonate and used in household items such as soap, detergent, glass bottles, and paper products. Despite the drop in oil prices, the economy of this state is still strong. A strong economy, high quality of life and competitive cost of living continue to attract many people to settle in this state.

The living wage for a Wyoming family of two working adults with two children is approximately $ 19.14. The poverty wage for a single family is $ 6.30, while the minimum wage is $ 7.25.

The average amount that a single family with two adults and one child spends on food per year is $ 8,639. The same family can spend about $ 7,831 on child care, $ 7,513 in medical expenses, $ 10,618 on housing, $ 11,186 on transportation, $ 3,554 on civic services and other expenses at $ 4,996 per person. year. This type of family would receive an annual income (after tax deductions) of about $ 54,338 and pay about $ 8,809 in tax.

How much does an apartment cost in Wyoming?

For an average apartment size of 1,135 square feet, the median price per square foot is $ 1.013. The national average rent in the United States is $ 1,650. When you compare the average Wyoming rent to the national average, rent is cheaper in this state than in many other parts of the United States.

Based on current rates, the median amounts renters can expect to pay for a modern apartment in Laramie, Wyoming with all essential amenities each month are as follows:

  • Studio: $ 516
  • One bedroom: $ 608
  • Two bedrooms: $ 756
  • Three bedrooms: $ 954
  • Four bedrooms: $ 1,346

According to the Zumper National Rent Report for April 2021, Wyoming experienced an inflation rate of about 4.5%.

How To Find Cheap Apartments in Wyoming?

To live comfortably, keep your rent below 30% of your monthly income. However, tenants can use other means to acquire a cheap apartment to rent.

1. Use a real estate app

You can stay up to date on cheap apartment listings by using a real estate app that offers information on all the listings available in your price range. For best results, create an account and check out the app every day or every few hours for the best discounts. You can also turn on notifications to be the first to access opportunities when new listings match your needs. When you find an attractive location, use Instarent, exclusively on Zumper, to reserve a unit that interests you.

2. Post a roommate ad

A roommate can help you cut the cost of rent in half. You can use many online platforms to advertise and find a roommate. Word of mouth will also work wonders if you have a network of fellow tenants. If you are not comfortable sharing your asking price, enter a price range or use a term such as “on a budget”.

3. Look for new areas

To keep your rental expenses in line with your household budget, consider relocating to inner cities or to the outskirts of major Wyoming cities. However, think of a place where travel is easy and the overall cost of living is lower.

4. Negotiate the rent

Consider negotiating the rent with your landlord whether or not you are looking for a cheap apartment. Estimated market values ​​can sometimes exaggerate rental prices in many neighborhoods.

Schedule a meeting with your potential landlord and share your concerns about the rent price. Make sure you have the written agreement if the landlord is willing to reduce the rent for a specific period or waive any other costs, like pet fees.

5. Check the condition of the apartment

Expect to pay a premium price for modern apartments with additional amenities, such as elevators and plunge pools. However, you can easily find cheaper alternatives when looking for basic studios or old style homes.

What’s the cheapest rent in Wyoming?

In general, the cost of living in Wyoming is low, but some cities offer much cheaper rents. You can get the most affordable rent in Rock Springs, Gillette, Cheyenne, Casper, and Laramie. A studio can cost as little as $ 466 in some places, and a one-bedroom apartment as cheap as $ 677 per month.

The cost of living in Wyoming is relatively affordable for renters, and the state’s employment rate is high. As such, Wyoming is a great state in which to live and work. If you prefer an area with family neighborhoods and daily spending is below the national average, this state may be the right choice for you and your needs. Before settling in a particular location, keep researching cities with low cost of living and high quality of life.

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