Wyoming offers no state income tax, no corporate income tax, a very low property tax rate of 0.61%, and significant mineral royalty revenues that fund state services without relying on broad-based income taxes. The statewide median home price is approximately $367,000 — though this figure masks extraordinary variation between Cheyenne and Casper at more modest levels and Jackson Hole, which has become one of the most expensive real estate markets in the United States with median prices exceeding $2 million.
Calculate Your Monthly Payment
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Select a program to apply FHA/VA/USDA rules.
Funding fee is often financed into the loan.
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20.0% of home price
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Used to estimate potential Year‑2 escrow shock if taxes reset after purchase.
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Used for Conventional PMI estimates and FHA minimum down rules
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Extra payments reduce balance faster and can end PMI sooner.
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Principal & Interest • Tax • Insurance • PMI • HOA
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Year‑2 estimate
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Note: This is an estimate. Tax timing, exemptions, and escrow rules vary by county and lender. Always verify with your county assessor and your lender’s escrow analysis.
Extra Payment Savings
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Disclaimer: Results shown are estimates for educational purposes only and do not constitute financial, tax, legal, or investment advice. Actual payments vary based on lender, credit score, loan type, and local assessments. Consult a licensed mortgage professional for your specific situation.
Wyoming Mortgage Calculator Guide
Buying a home in Wyoming requires understanding local costs. The median home price in the state sits around $367,000, which means your down payment and loan amount will heavily dictate your monthly expenses. Because Wyoming has an average property tax rate of 0.61%, factoring this into your monthly mortgage payment is essential for an accurate budget.
Beyond principal and interest, homeowners insurance in Wyoming averages $1,500 per year. Local weather risks and property age can push this number higher. By using our pre-loaded local averages, you get a realistic view of your true housing costs rather than just a basic principal calculation.
If you put down less than 20%, you will also need to pay Private Mortgage Insurance (PMI). Adjust the down payment field above to see exactly how your PMI drops off once you reach that 20% equity threshold in Wyoming.
Wyoming's average property tax rate of 0.61% is among the lowest in the nation, well below the national average of 1.07%. Wyoming has no state income tax, funded instead by mineral severance taxes on oil, gas, and coal extraction. Residential property in Wyoming is assessed at 9.5% of market value, further reducing the effective taxable base. The state offers a Property Tax Refund Program for qualifying low-income homeowners. On a $367,000 home outside Jackson, annual property taxes average approximately $2,239.
Frequently Asked Questions
No. Wyoming has no state income tax, which is one of its most significant financial advantages. The state funds government services primarily through mineral severance taxes on oil, gas, and coal. Combined with a very low property tax rate of 0.61%, Wyoming offers one of the most favorable total tax environments for homeowners.
Jackson Hole in Teton County is one of the most expensive real estate markets in the United States, with median single-family home prices exceeding $2 million. It sits adjacent to Grand Teton National Park and Yellowstone, offers world-class skiing at Jackson Hole Mountain Resort, and is surrounded by national forest and park land that severely limits new development. Ultra-high-net-worth buyers from across the country have made Jackson a second-home and lifestyle destination, driving extraordinary prices.
The Wyoming Community Development Authority (WCDA) offers a HomeOwnership program with competitive mortgage rates, an Amortizing DPA program providing down payment assistance, and a Spruce Up Wyoming Rehab Loan for buyers purchasing homes needing renovation. Income and purchase price limits apply.
Wyoming's statewide median is approximately $367,000, but this is heavily influenced by Jackson. Excluding Jackson, most of Wyoming is significantly more affordable — Cheyenne averages around $335,000, Casper near $295,000, and Laramie is lower. Jackson Hole skews the statewide average dramatically with median prices exceeding $2 million.
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