Wyoming is in the Mountain West region of the United States. It is the 10th largest state in size but the least populated in the nation. The state has a beautiful landscape characterized by breathtaking mountains, lush wilderness, and rock formations. Each year, thousands of tourists visit to enjoy the dramatic scenery. When you come here, you will appreciate nature’s beauty and the low cost of living in Wyoming.
The state has a rich history. Its name comes from a Native American word that translates to “at the immense plain.” The Lenape Native Americans became the first people to use the name Wyoming Valley. Wyoming was the first state to grant women the right to vote in 1869.
What is the cost of living in Wyoming?
Many families moved to the state due to the booming oil and natural gas and trona production companies, attracted by well-paying jobs and a low cost of living. The state has the largest trona deposits globally. Trona is refined into soda ash and used in household items such as soap, detergent, glass bottles, and paper products. With the falling oil prices notwithstanding, the economy of this state is still strong. A strong economy, high quality of life, and a competitive cost of living continue to attract many people to settle in this state.
The living wage of a family in Wyoming comprised of two working adults with two children is approximately $19.14. The poverty wage for the same family is at $6.30, while the minimum wage is $7.25.
The average amount that a single family with two adults and one child spends on food per year is $8,639. The same family can spend about $7,831 in child care, $7,513 in medical bills, $10,618 on housing, $11,186 on transportation, $3,554 on civic services, and other expenses at $4,996 per year. This type of family would receive an annual income (after tax deductions) of about $54,338 and pay roughly $8,809 in tax.
How expensive is an apartment in Wyoming?
For an average apartment size of 1,135 square feet, the median price per square foot is $1.013. The national average rent in the United States stands at $1,650. When you compare Wyoming’s average rent to that of the national average, rent is cheaper in this state than in many other parts of the United States.
According to the current rates, the median amounts that renters can expect to pay for a modern apartment in Laramie, Wyoming with all the essential amenities every month include the following:
- Studio: $516
- One-bedroom: $608
- Two-bedroom: $756
- Three-bedroom: $954
- Four-bedroom: $1,346
According to the April 2021 Zumper National Rent Report, Wyoming has experienced an inflation rate of about 4.5%.
How do I find cheap apartments in Wyoming?
To live comfortably, keep your rent less than 30% of your monthly income. However, renters can use other means to acquire a cheap apartment to rent.
1. Use a real estate app
You can remain up-to-date on the listings of cheap apartments by using a real estate app that offers information for all available listings within your price range. For the best results, sign up for an account and check the app daily or after every few hours to get the best discounts. You can also enable notifications to be the first to access opportunities when new listings match your needs. When you find an attractive place, use Instarent, exclusively on Zumper, to reserve a unit that interests you.
2. Post a roommate ad
A roommate can help you cut down rent costs by half. You can use many online platforms to post an ad and find a roommate. Word of mouth will also work wonders if you have a network of fellow renters. If you are not comfortable sharing your asking price, give a price range or use a term such as “on a budget.”
3. Look into new areas
To keep your rental expenses in line with your household budget, consider moving to downtown areas or outskirts of Wyoming’s major cities. However, consider a place where the commute is easy and the general cost of living is lower.
4. Negotiate the rent
Consider negotiating the rent with your landlord, regardless of whether you are searching for a cheap apartment. Estimated market values may exaggerate rent prices in many neighborhoods at times.
Plan a meeting with your potential landlord and share your concerns regarding the rent price. Ensure you have the agreement in writing if the landlord is willing to reduce the rent for a specific duration or forgo any other fees, such as pet fees.
5. Verify the apartment’s condition
Expect to pay a premium price for modern apartments with extra amenities, such as elevators and swimming pools. However, you can easily find cheaper alternatives when you search for basic studio apartments or older-style houses.
What is the cheapest rent in Wyoming?
Generally, the cost of living in Wyoming is low, but certain cities offer far much cheaper rent. You can get the most affordable rent in Rock Springs, Gillette, Cheyenne, Casper, and Laramie. A studio apartment could cost as little as $466 in some places, and a one-bedroom apartment as cheap as $677 per month.
The cost of living in Wyoming is relatively affordable for renters, and the employment rate in the state is high. As such, Wyoming is a great state in which to live and work. If you prefer an area with family-friendly neighborhoods and the everyday expenditure is below the national average, this state can be the right choice for you and your needs. Before you settle on a particular place, continue researching the towns or cities with cheap living costs and high quality of life.
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