How High is the Cost of Living in Wyoming?

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With a cost of living marginally lower than the national average, the state of Wyoming offers slightly more affordable prices and lower expenses on a month-to-month basis. A single adult without children will need to be making at least $15.25 per hour or $31,720 per year if they hope to live relatively comfortably.
Regardless of whether you're considering a short-term or long-term move to the Equality State, you’ll want to familiarize yourself with Wyoming's cost of living to understand how it will affect your daily expenses.
Fortunately, licensed home and auto insurance comparison app and broker Jerry has done the bulk of the work for you by compiling the following guide detailing everything you need to know about the cost of living in Wyoming.
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How high is the cost of living in Wyoming? 

Wyoming has a cost of living index of 98.1, which is fairly average when compared to the rest of the United States.
But what does that number actually mean? Simply put, the national average cost of living index is 100 and serves as the benchmark for all 50 states. Any number less than 100 denotes a lower-than-average cost of living.
Therefore, Wyoming has a marginally lower cost of living than the national average. But what does that actually mean for the cost of things in Wyoming? Let's look at some of the basic expenses in Wyoming, such as food, housing, healthcare, and transportation.

Food: $333 to $1,193 per month

Food ranks first on our list of unavoidable living expenses—and here we're not referring to dining out or cafe fare, but rather your monthly grocery costs.
Depending on your family size, income level, and general location, the annual cost of food in Wyoming can range from $3,999 to $14,321 according to MIT's living wage calculator. A family of four typically spends closer to $980 per month on food-related expenses compared to a single adult without children who spends approximately $333 per month on groceries.
To put things into perspective, the Bureau of Labor Statistics found that, in 2020, the average U.S. household spent $411 per month on groceries.
And keep in mind that these estimates only cover the cost of groceries—any takeout, fast food, or restaurant meals you eat will be additional expenses.

Housing: $600 to $1,428 per month

As you can probably imagine, housing costs play a significant role in determining the cost of living in Wyoming. The average home value in June 2022 was about $321,497, which is about $50,000 less than the national average—the housing market, however, is constantly changing, and renting is a completely different situation altogether.
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Depending on the type of home you own or rent, you can expect to pay one of the following:
  • Median monthly mortgage payment: $1,428
  • Average studio rent: $600
  • Average one-bedroom rent: $681
  • Average two-bedroom rent: $819
  • Average three-bedroom rent: $1,163
  • Average four-bedroom rent: $1,402
However, keep in mind that these numbers only reflect state averages—depending on your precise location, prices may be higher or lower.  A one-bedroom apartment in Cheyenne, for example, goes for roughly $850 a month, whereas you may be able to find a three-bedroom apartment in Evanston for as little as $948 a month.

Healthcare: $201 to $641 per month

Wyoming residents typically spend $201 per month, or roughly $2,402 per year, on health-related expenses, which is significantly less than the national average of $5,724 per year.
However, compared to the annual amount a family can anticipate spending on groceries, healthcare costs are considerably more unpredictable. Even among family members living in the same home, medical costs can differ greatly. The cost of living in Wyoming is likely to be significantly higher if you have a child or spouse who needs expensive prescription drugs, has a chronic illness, or is disabled.

Transportation: $411 to $1,218 per month

Transportation costs are a significant contributor to cost of living, and given Wyoming's infrastructure and settlement patterns, owning at least one car is essentially a requirement.
Expect to spend between $4,938 and $14,613 a year on transportation-related costs, depending on your household and family structure.
Of course, "transportation-related expenses" cover a wide range of costs. Some of the most significant figures are listed below:
  • Average cost of a gallon of gas (July 2022): $4.79
  • Average annual cost of car insurance: $336 to $1,484 (minimum liability coverage vs. full coverage)
  • Average commute length in Wyoming: 35 minutes

How much you need to live comfortably in Wyoming

Based on the estimates listed above (plus a few other anticipated expenses), a single adult working full-time in Wyoming will need to earn at least $31,720 per year, or $15.25 per hour, to live relatively comfortably.
In contrast, a family of four requires a minimum income of $90,022 annually, or $43.28 per hour, in order to live comfortably.
Sadly, this is much easier said than done— Wyoming's minimum wage is only $7.25 an hour, making it difficult for some people to afford anything more than the absolute necessities, let alone non-essential comforts.
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For a breakdown of the costs of some fundamental non-essentials and how they contrast with the national average, see the list below:
  • Average cost of a date: $52.10 (U.S. average: $116)
  • Average cost of a movie ticket: $9.05 (U.S. average: $10.61)
  • Average sales tax: 4% (U.S. average: 5.09%)
  • Average cost of a cup of coffee: $2.68 (U.S. average: $2.70)
Key Takeaway Each person has different comforts that they enjoy in life and less than $31,720 a year may allow you to enjoy both necessities and luxuries—but in most cases, that's just enough to get by.

Cities in Wyoming with the lowest cost of living

That being said, it is much simpler to save money and maintain a comfortable standard of living in some Wyoming cities—where housing costs are even lower than the state average—than others. A few of Wyoming’s cities with the lowest cost of living indexes (COLI) include:
  • Crowheart (COLI: 80.5): As the city with the lowest cost of living in the state, Crowheart is one of the best places to move if you’re absolutely looking to save money—it’s also a great place to live if you enjoy being outdoors.
  • Greybull (COLI: 82.4): Folks looking for affordable housing and a small-town feel will feel right at home in Greybull—and the nearby schools all offer above-average education when compared to the rest of the state.
  • Basin (COLI: 85.5): With a cost of living much lower than the state average, comparatively low crime rates, and decent schools, Basin is a top-tier city to move to—the only bad thing we can say about it is that there isn’t much to do there.
  • Kemmerer (COLI 88.9): As the largest city in Lincoln County, Kemmerer ranks pretty average all around—just make sure you take measures to protect yourself and secure your property.
  • Evanston (COLI: 90.6): If you’re looking for somewhere affordable that still has a decent community, Evanston is a good place to move, and you’ll be in fairly close proximity to Salt Lake City—without being subject to an overly-inflated cost of living.

How to easily find home and car insurance in Wyoming

It's true that Wyoming residents have lower living expenses than those in some other states, but it's always nice to be able to save money whenever you can, especially when it comes to your insurance payments.
Fortunately, licensed home, auto, and renters insurance super app Jerry makes shopping for reasonable rates easier than ever—and saves the average user $800+ a year on car insurance alone! Simply download the app, fill out a brief survey, and Jerry will compare dozens of competitive quotes from the top insurance companies in the country in as little as 45 seconds to find you the best offers.
Jerry can even assist you in bundling your home and auto insurance policies to maximize your savings—without subjecting you to lengthy phone calls or tedious paperwork.
Jerry was wonderful! I used it for my auto and renters policies. I trusted it so much that I signed up my homeowners insurance under Jerry as well. All of the agents are amazingly nice and knowledgeable.” —Mary Y.
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FAQ

It's generally accepted that a person needs to be making at least $2,643 per month to live semi-comfortably in Wyoming, although your lifestyle, living situation, and spending habits will play a large role in determining your monthly cost of living.

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