Wyoming, the 10th largest by land area and the least populated. Almost half of the land in Wyoming is owned by the government, largely due to the two national parks located in the state. The state’s capitol Cheyenne is located in the southeast region of the state. The city of Cheyenne is also the states largest city, home to 64,000 residents. CNN ranked Wyoming the #1 state to retire in the United States based on weather, cost of living, taxes, and general well being.
Cost of Living
Wyoming ranks as the 11th cheapest state to live in. Our cost of living index is based on a US average of 100. An amount below 100 means Wyoming is cheaper than the US average. A cost of living index above 100 means Wyoming is more expensive than the US average. Wyoming’s index is 99.8. The average home in Wyoming costs $218,500 compared to the national average of $216,200. Here are the average costs of renting in Wyoming. A studio apartment rents for $556 per month. A one bedroom rents for $630. A two bedroom rents for $810 per month. A three bedroom rents for $1105 per month. The average energy bill for residents is $85 per month.
Climate
Wyoming is covered mostly by the mountain ranges and rangelands of the Rocky Mountains, while the eastern third of the state is high elevation prairie called the High Plains. Summers in Wyoming are hot with temperatures in July averaging around 85˚ F. The winters are cold though with average January temperatures around 35˚ F. Wyoming is a dry state with most areas getting less than 10 inches per year. That precipitation usually comes in late spring and early summer. Wyoming averages 54 inches of snow per year. Some mountain areas get up to 200 inches or more annually.
Taxes
What makes Wyoming such a great place to retire is that the state does not levy a personal or corporate income tax. Because it has no income tax, all pension, Social Security, and payments from retirement accounts are not taxed at the state level. Wyoming’s sales tax is 4%. Wyoming’s property tax rate is 11.5% for industrial property and 9.5% for commercial, residential and all other property. This property tax is based on the assessed value of the property. There is no inheritance tax in Wyoming.
Things To Do
If you love the outdoors then Wyoming would make a great retirement location. Possibilities for outdoor adventures are endless. Wyoming’s national forests are prime ATV and off-roading destinations. The state’s waters are world class. They range from stunning still lakes to epic rapids. With 4,200 lakes and 27,000 miles of rivers and streams, you can almost guarantee you will find a spot to fish anywhere you end up in Wyoming. For those interested in golf, there are almost 100 courses across the state. Wyoming is home to 12 states park, two national parks, eight national forests, and more than 18 million acres of public land. Hikers can choose to scale a mountain or stroll across the plains. Wyoming offers opportunities for game bird, small game, trophy game and big game hunting in different regions throughout the state. Moose, elk, bighorn sheep, and bison are just some of the game animals that can be hunted in Wyoming. These are only a fraction of the outdoor activities Wyoming has to offer.
Wyoming offers world-renowned hot springs that bring international guests. Located in southcentral Wyoming is the town of Saratoga. Saratoga has an established hot springs resort in addition to a free public soaking pool. There are several resorts located all over Wyoming.
College athletics are also activities that you can enjoy living in Wyoming. Located in Laramie, Wyoming is the University of Wyoming. Known mostly for football their athletics are division 1.
Food
Whether you’re looking for locally sourced bison in Beulah, mouth-watering burgers from The Front Porch in Thermopolis, vegetarian dishes in Laramie or a farm-to-table experience in Jackson, towns both big and small serve up dishes to impress any guest. You can find decadent chocolates and desserts in Meeteetse at Meeteetse Chocolatier.
Another part of Wyoming’s culinary scene are distilleries, breweries, wineries, and a meadery, each serving up their own take on the taste, flavors, and culture of the Cowboy State. The brewery industry is growing in Wyoming and you can taste the many types of brews on a beer tour. With many distilleries located around the state, people are stopping into tasting rooms trying cocktails made with locally sourced products.
Transportation
Currently, all 23 counties have at least one provider of public transportation. There are no trains into Wyoming, but the Greyhound bus network has routes to most major cities in the state. You can find airports scattered around the state. There are airports located in Jackson, Casper, Cody (Yellowstone), and Gilette to name a few.
Communities
Powder Horn is a 700 home golf community located in Sheridan, Wyoming. Powder Horn is located at the base of the Bighorn Mountains. The golf course has been ranked the best course in Wyoming 12 years consecutively. Residents can access the 30,000 square foot clubhouse, fitness center, pools, and tennis courts. Powder Horn has a mix of attached and single-family homes. Home prices range from mid $300,000’s to mid $1,000,000’s. There are no age restrictions to live in this community.
Pointe Frontier Retirement Community is located in the Cheyenne, Wyoming. They offer assisted living and independent living. Pointe Frontier amenities include a wellness center, game/billiards room, lounges, transportation, and acres of beautiful grounds. This is a 55+ community.
Snake River Sporting Club is located in Jackson Hole, Wyoming. They aim to provide an authentic Jackson Hole experience in a private club setting. Located in the tourist town of Jackson Hole there are activities all year round. Some activities found here include:
- 18 hole golf course
- tennis
- hiking
- fishing
- swimming pools
- archery
- ice skating, skiing, tubing
They offer three types of homes. The Lodges, The Residences, and Ranch Estates. The Lodges consist of 4 and 5 bedroom open floorplans. Lodges bring contemporary designs and high craftsmanship to the beautiful Jackson Hole mountains. Owners of The Lodges have the option to be a part of the Snake River Sporting Club rental program. This program run by the Snake River property management
The Residences are made up of 62 custom home sites with direct river and golf course access. Surrounded by serene woodlands, tucked around the fairways, The Residences give you the feeling of a peaceful residential community with amazing mountain views.
Ranch Estates are large multi-acre lots bordering 3.5 million acres of the Bridger-Teton National Forest. Lots for Ranch Estates are still being sold. Lots range in size from 35-105 acres. On these lots you can expect, large pasture, gorgeous views, and mature forests. Surrounded by forest, deer, and elk can often be found strolling by.
Conclusion
Wyoming is ranked the #1 state to retire in the United States and for good reasons. The tax advantages Wyoming offers are some of the best in the world. If you love nature and outdoor activities then Wyoming provides endless adventures.
Whether looking to buy, sell or possibly both you need an agent that can help you reach your goals. If you need help finding an agent contact us and we can connect you to an agent on our list of the nations top real estate agents.