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Wyoming real estate

Wyoming

Back in 2008, Wyoming was one of the last states to officially enter the recession. Then, thanks to its energy and mining industries, it was one of the first states to emerge from the recession in early 2010. Now that we’re three years removed from that, is the Cowboy State’s housing market still leading the way?

Yes!

One of the biggest things Wyoming has working in its favor is its jobs market. By the end of 2012, Wyoming only had an unemployment rate of 4.9% -- considerably less than the national average. As a result, people are flocking to the Cowboy State looking for new opportunities. In fact, Wyoming gained more than 6,000 new residents between the second half of 2011 and the second half of 2012.

And, as you can imagine, all of those people need places to live! As a result, the homes for sale around Wyoming keep getting more and more expensive.

A classic example of the demand here is in Cheyenne. In February 2012, the average home price was $178,000. By the end of 2012, it was $192,000!

But the rising home values aren’t just limited to Wyoming’s largest city. In Casper, the average home price was $187,000 at the end of 2012. Six months before that, it was only $179,000. At the end of 2011, it was only $173,000. Making matters better in Casper? The unemployment rate here is only 4.3%!

And all of the hard-working residents in Casper are probably better off finding a house of their own to call home. That’s because the rental market here is skyrocketing. In fact, at the beginning of 2013, the average apartment for rent in Casper cost about $1,000 per month – meaning that buying is probably cheaper!

But even if you can afford one of these apartments to rent, you may not be able to find one. That’s because 99% of the apartments around Casper are full. While Casper’s rental market may have the highest demand, it’s not the only market in the state that looks like this. Because there are so many jobs in Wyoming – and because those jobs pay so much better than most of the jobs around the rest of the country – the Cowboy State’s housing market simply can’t keep up.

So, what do realtors around Wyoming think 2013 has in store for this housing market?

As long as the jobs market here stays so healthy, there’s no reason to believe that Wyoming’s housing market will continue to do anything but improve!

Living in Wyoming

Are you searching for a place to live where you are surrounded by gorgeous lakes, rivers, canyons, grasslands and mountain ranges? Welcome to Wyoming!

Located in the mountain region of the Western U.S., 48% of Wyoming is owned by the federal government (which amounts to more than 30 million acres). The western part of the state consists of mountain ranges and rangelands in the Eastern Rocky Mountains. The eastern section is made up of high elevation prairie called the High Plains.

Wyoming is nicknamed the “Equality State” because it was the first state which allowed women to vote, hold public office, and serve on a jury.

Summer days in Wyoming are warm, but the temperature drops rapidly at night. Winters vary from cold to extremely cold, with Chinook winds bringing some warmth. The state is very dry, receiving less than 10 inches of rain annually.

Before you make the move to Wyoming, let’s go over some of its fast facts:

  • What is the population of Wyoming?
  • The population of Wyoming is 576,412
  • What is the capital of Wyoming?
  • The capital of Wyoming is Cheyenne
  • What is the largest city in Wyoming?
  • The largest city is Cheyenne

While the Wyoming economy has historically depended on agriculture, its importance has lessened recently as mineral extraction and the tourism sector have grown. The state is the number one producer of coal in the country, and it’s second in natural gas.

Wyoming’s national parks and monuments are incredibly popular with residents, and there are plenty to choose from! The most popular sites include Grand Teton National Park, Yellowstone National Park, Devils Tower National Monument, Independence Rock, and Fossil Butte National Monument. Yellowstone National Park, known as the first national park in the world, is said to have at least three million visitors annually. You’ll be able to have it (and the famous Old Faithful Geyser) right in your own backyard!

Bottom line – if your family loves to spend time outdoors, you’ll be hard-pressed to find a better place to call home than Wyoming!

This is the Census data for Wyoming

Population

Total population estimate for Wyoming (July 1) 2012
576,412
Total population change for Wyoming- April 1, 2010 to July 1, 2012
2.3%

Age

Percentage of the population that's under 5 years old in Wyoming, 2011
7.0%
Percentage of the population that's under 18 years years old in Wyoming, 2011
23.7%
Percentage of the population that's 65 years and over Wyoming, 2011
12.7%

Gender

Percentage of the population that are females in Wyoming, 2011
49.0%

Race breakdown for Wyoming in percentages

White alone, 2011
93.5%
Black alone, 2011
1.1%
American Indian and Alaska Native alone,2011
2.6%
Asian alone, percent, 2011
0.9%
Native Hawaiian and Other Pacific Islander alone, 2011
0.1%
Two or more races, 2011
1.8%
Hispanic or Latino Origin, 2011
9.1%
Not Hispanic, White alone, 2011
85.5%

A little more about the residents of Wyoming

Percentage of residents who lived in the same house 1 year ago, 2007-2011
81.8%
Percent of residents who are foreign born 2007-2011
3.1%
Percent speaking a language other than English at home, 2007-2011
6.5%

Education

Percent high school graduates or higher for residents 25 years old and over in Wyoming, 2007-2011
91.9%
Percent with a bachelor's degree or higher for residents 25 years old and over in Wyoming, 2007-2011
24.2%

Veterans

Total number of Veterans living in Wyoming 2007-2011
52,600

Communting

The average travel time to work for workers in Wyoming (16 years and over not working at home), 2007-2011
18.6 mins

Real estate stats in Wyoming

Housing unit estimates, 2011
265,528
Owner-occupied housing units - percent of total occupied housing units, 2007-2011
70.5%
Housing units by units in structure - multi-dwelling structure, percent, 2007-2011
15.7%
Median value of specified owner-occupied housing units, 2007-2011
$181,900.00
Households, 2007-2011
219,628
Average household size, 2007-2011
2.46

Income

Per capita income for Wyoming in the past 12 months (in 2011 inflation-adjusted dollars), 2007-2011
$28,952.00
Median household income in Wyoming, 2007-2011
$56,380.00
Percentage of people living in poverty in Wyoming 2007-2011
10.1%

Business and commerce info for Wyoming

Private nonfarm establishments, 2010
20,231
Private nonfarm employment for pay period including March 12, 2010
205,046
Private nonfarm employment for pay period including March 12, 2010, percent change, 2000-2010
17.4%
Total number of businesses in Wyoming, 2007
61,179
Percentage of Black-owned businesses in Wyoming, 2007
0.2%
Percentage of American Indian- and Alaska Native-owned businesses in Wyoming , 2007
0.8%
Percentage of Asian-owned businesses in Wyoming, 2007
0.7%
Percentage of Native Hawaiian- and Other Pacific Islander-owned businesses in Wyoming, 2007
NA
Percentage of Hispanic-owned businesses in Wyoming, 2007
2.8%
Percentage of Women-owned businesses in Wyoming, 2007
25.5%

Land size and population

Size of Wyoming in Square Miles, 2010
97,093.14 mi²
Population per square mile in Wyoming, 2010
5.8

Wyoming real estate