Median home: $315,000 | Mortgage rate: 7.1% | Property tax: 0.55% | Insurance: $1,100/yr
Wyoming is a wide-open Western state with no income tax. With a median home price of $315,000 and mortgage rates averaging 7.1%, understanding what you can afford before house hunting is essential.
The 28/36 rule is the gold standard: spend no more than 28% of gross income on housing and no more than 36% on total debt. In Wyoming, with a property tax rate of 0.55% and average insurance of $1,100/year, these costs add significantly to your monthly payment beyond just principal and interest.
A 20% down payment on the median Wyoming home requires $63,000. FHA loans with 3.5% down need just $11,025, but you will pay mortgage insurance. Wyoming has no income tax and one of the lowest property tax rates in the West.
See all Wyoming financial calculators:
Based on the 28/36 rule, your total housing payment should not exceed 28% of gross monthly income, and total debts should stay under 36%. In Wyoming, with median home prices at $315,000, you typically need a household income of at least $315,000 to afford the median home.
To afford the median Wyoming home at $315,000 with 20% down at 7.1% interest, you need approximately $72,579 annual household income. This is based on the 28% housing cost guideline.
The median home price in Wyoming is approximately $315,000 as of 2026. Prices vary significantly by city and county. Wyoming is a wide-open Western state with no income tax.
A 20% down payment on the median Wyoming home ($315,000) is $63,000. FHA loans allow 3.5% down ($11,025) and VA loans offer 0% down for eligible veterans.
Wyoming has a property tax rate of 0.55%, which is below the national average. On the median home, that is $1,733/year. Wyoming has no income tax and one of the lowest property tax rates in the West.