Moving to Wyoming

Are You Moving From or To Wyoming?

One of the most sparsely populated states in the US, Wyoming is a land of rugged landscapes, rich tribal legend, rodeos, ranches, cowboy towns, and some of the world’s great wilderness areas.  The Cowboy State is the ideal destination for anyone who wants to explore the dramatic natural beauty of the American West. Yellowstone, with its geothermal wonders, together with the spectacular Grand Teton National Park comprise one of the largest intact temperate-zone ecosystems on the planet. Welcoming nearly 4 million visitors each year across their two official national parks and multiple national forest reserves, Wyoming is considered as one of the wilder and more rugged states. Home to over 65 species of mammals and dozens of species of birds and fish, Wyoming is the nature lover’s state for sure.

Wyoming is a state of wonderful, rugged American wilderness and free-range living, but it’s much more than just ranchers and Old West culture. Known as a great place for retirees and outdoors types, this northwestern state offers reasonable cost of living, low taxes, boundless natural beauty, and the list goes on. It is also a large state with the country’s smallest population.

If you’re moving to Wyoming, there are a lot of things you’re going to need to know. Luckily, you’ve come to the right place.

Moving to Wyoming

Pros and Cons of Living in Wyoming

Here are a few pros and cons to consider as you make your move to The Cowboy State:

Pros.

  • House prices: The median home value in the state of Wyoming is a highly affordable $232,000. Without surprise, the market is very hot now.
  • Low taxes: If you currently live in a state with high taxes, you’re in luck. Along with one of the lowest property tax rates in the US, there’s also no income tax.
  • Grand nature: If you like nature and outdoor recreation, you’ll have it here! Plus, there are four distinct seasons. Enjoy year-round activities: hiking, hunting, fishing, skiing, and much more.
  • No traffic: Traffic? What traffic? As the least densely populated state in the country, there simply aren’t that many vehicles on the roads.

Cons.

  • Severe weather: From harsh winter to hail and flash flooding, Big Wyoming has big, bad storms. Best to be prepared with the right gear for inclement weather.
  • Remoteness: Again, this is a sparsely populated state at under 600,000 inhabitants. There tends to be a lot of space between you and the next neighbor, store, hospital, or town.
  • Lack of diversity: Though the state strives to be inclusive (and even adopted the nickname The Equality State), 92% of the population is white.
  • Workplace danger: Wyoming has a high rate of workplace fatalities due to cattle and even moose.
  • No large cities: With a population of approximately 63,000, Cheyenne is the most populated city in the state. If you’re looking for a metropolis, this might not be the right fit.

Tax Rates

The state of Wyoming doesn’t levy a personal or corporate income tax amount nor does Wyoming assess any taxes on retirement income earned and received from another state. Wyoming has the lowest property taxes in the United States. The average tax rate is 0.62% which ranks as the ninth-lowest rate in the country.

As a Wyomingite, you will be required to pay the property taxes in two installments where the first installment should be paid by the 10th of November and the other half by May 10th. The county assessors evaluate the property once every six years.

Housing Market

The typical home value of homes in Wyoming is $257,261. This value is seasonally adjusted and only includes the middle price tier of homes. Wyoming home values have gone up 3.0% over the past year and Zillow predicts they will rise 6.7% in the next year.

What Should I Know In 2020?

Economy Outlook

Wyoming’s economy is greatly driven by the tourism and mineral extraction industries, though agriculture is another major aspect as well. Top employers are generally state or federal government-based, including the University of Wyoming and F.E. Warren Air Force Base. Unemployment, meanwhile, is slightly below the national average – but during the Recession, it was actually far below.

The main drivers of Wyoming’s economy are tourism and the extraction of minerals such as coaloil, natural gas, and trona. Agricultural commodities include livestock, hay, sugar beets, grain (wheat and barley), and wool.

Wyoming is a state that has an employment rate of 3.9 % that is lower than the national one. The minimal hourly wages is $7.25, while the most highly-developed industries are energy extraction, tourism, and agriculture. The biggest part of the state GDP consists of the revenue received from these industries, while all the other directions are represented too. Most of the jobs are also available in the extraction industry as well as healthcare.

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Traffic & Transportation

The Jackson Hole Airport is no doubt the largest airport in Wyoming and employs over 500 staff.  Others are Casper International Airport, Cheyenne Regional Airport, Yellowstone regional airport, and Gillette-Campbell County Airport. Wyoming has three interstate highways and thirteen national highways passing through it. Additionally, Wyoming also utilizes the Wyoming state highway system.

Wyoming has some railroads like the BSNF Railway, Canadian Pacific Railway, Swan Ranch, and Union Pacific Railroad.

The south of Cheyenne is the entrance to the Interstate 25 which runs north and then intersects Interstate 80 to the west of Cheyenne. Wyoming also has ten other U.S Highways that pass through it and Wyoming is one of the only two states which is not served by Amtrak.

Cost of living

Wyoming is one of the north-western states that can boast the 10th largest area and is the 2nd least populated state. Moving to Wyoming is not that popular among the US residents, but still, there are people who manage to appreciate all the benefits of living in this state. The reason for that is a big number of positive sides that outnumber any possible drawbacks of being a resident there.

It goes without saying that Wyoming is an affordable place to live, as its cost of living index is only 5% higher than the national average one. However, Wyoming is ranked 15th among the US states for the median family income.

It is natural that in a state with a short growing season groceries and other products will be a bit more expensive than in sunny states. However, the biggest influence on the increase of this index was made by healthcare – it is 33% more expensive in Wyoming than around the US although features excellent quality. Both utilities and transportation are even more affordable than in other American states. In general, there are counties that are more affordable and Teton and Laramie Counties are the most expensive ones.

Moving to Wyoming

Things to Know When Moving To Wyoming

Wyoming Climate

Wyoming has a relatively cool climate. Above the 6,000 feet level, the temperature rarely exceeds 100° F. ... The average maximum temperature at the Basin in July is 92° F. For most of the State, mean maximum temperatures in July range between 85 and 95° F.

Employment

If you are eligible to receive unemployment, your weekly benefit rate is 4% of your earnings in the highest-paid quarter of the base period. The current maximum is $508 per week; the minimum weekly benefit amount is currently $36.

Real Estate

The median price of Wyoming ranches, farms, hunting land and other rural land and acreage for sale is $265,000.

Average Income

A person working in Wyoming typically earns around 82,400 USD per year. Salaries range from 20,800 USD (lowest average) to 368,000 USD (highest average, the actual maximum salary is higher). This is the average yearly salary including housing, transport, and other benefits.

Industries

The mineral extraction industry, including oil and gas, is the main driver of the Wyoming economy, accounting for more than three-fifths of the state's revenues.

Crime Rankings

80% of the cities came in under Wyoming's low violent crime rate of 2.1, but all beat the national rate of 3.7. 80% of the cities beat the state's low 17.9 property crime rate, but all did better than the national rate of 22.0.

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