The Real Cost of Buying a Home in Wyoming – 2025 Update

The Real Cost of Buying a Home in Wyoming – 2025 Update

Wyoming’s housing market in 2025 continues to be dynamic, shaped by rising prices, fluctuating interest rates, and shifting regional opportunities. Here’s what buyers need to know before starting their home search.

Statewide Market Trends

• The average home value statewide is $338,888, up 3.3% from 2024, with the median sales price at $319,000 and median listing price at $410,000.​

"Wyoming’s housing market is as dynamic as our four-seasons-in-a-day weather. According to recent data, the average home value statewide is $338,888, up 3.3% from last year. The median sales price is slightly lower at 319,000, while listings are pricier with a median of 410,000."​

• Mortgage rates are now around 6.8% for a 30-year fixed loan, making borrowing more expensive than in recent years.​

"Mortgage rates are hovering around 6.8% for a 30-year fixed loan, a jump from the historic low rates of a few years ago, making borrowing more expensive."​

• Wyoming ranks as the 25th least affordable state; buyers face price-to-income challenges across major local markets.​

"Affordability is a challenge too. Wyoming scores 5.5 on the affordability index, ranking as the 25th least affordable state, when comparing home prices to median household income."​

Regional Differences Matter

• In Casper, the median home value is $320,000, up 6.7% year-over-year. This makes Casper "a steal compared to the state average, making it a hotspot for professionals and families."​

• Sheridan has seen median sales prices reach $442,500 in 2025, with inventories rising and buyers gaining advantage.​

"The median price of a home sold in Sheridan County was $442,500 according to an April 2025 market trends report by the Wyoming MLS...[with] nearly a year’s worth of stock available in Sheridan’s housing market right now — high for Wyoming... Sheridan County’s 11 months of inventory represents a 15.3% month-over-month increase in stock in the last year.... the housing sector is currently considered a buyer’s market."​

• In Jackson, median prices are now $2.6 million, reflecting luxury demand and unique market pressures.​

Housing Affordability and Buyer Considerations

• Some new subdivisions in Sheridan, like Sheridan Hills and Covey Run, list 3-bedroom homes at $365,000–$385,000, but the monthly cost, "around $2,300 a month, is double what many are paying in rent," making ownership challenging for typical buyers.​

"Affordable housing is considered to be a home priced at around $385,000, according to Young, but that price tag can be unattainable for many homebuyers. With that number, you’re looking at $2,300 a month, and for people who are paying $1,200 a month in rent, that’s double that."​

• Across Wyoming, home prices are up 35.7% year-over-year as of August 2025, but the number of homes sold fell by 10.5%, and inventory grew by 11.7% — signaling a changing and more stabilizing market.​

"In August 2025, home prices in Wyoming were up 35.7% compared to last year, selling for a median price of $552,700. At the same time, the number of homes sold fell 10.5%, and the number of homes for sale rose 11.7%."​

FHA Compliance Statement

This post adheres to Fair Housing Act (FHA) principles by focusing only on economic, regional, and objective market data, without referencing any protected characteristics. All guidance is general, market-based, and available to all without bias.

For more Wyoming real estate market resources, connect with our experienced team at Coldwell Banker Wyoming—local professionals ready to guide you through changing market realities.