Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Big Horn County | Wyoming Avg | US Average |
|---|---|---|---|
| Median Home Price | $212,907 | $235,717 | $242,182 |
| Price Trend (Annual %) | 9.4% | 6.3% | 8.2% |
| Median Gross Rent | $875 | $967 | $1,342 |
| Rent Trend (Annual %) | 5.7% | 2.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Big Horn County is about 10% lower than in Wyoming. Rent is about 10% lower than the Wyoming average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Big Horn County, up about 9.4% and 5.7% a year respectively. Home prices are changing faster.
Median rent in Big Horn County rose about 47.4% between 2015 and 2023, from $594 to $875. Over the same span, rent in Wyoming rose about 22.7%.
Affordability
On average, housing unit costs 3.5 yearly household incomes in Big Horn County.
Buying the median-priced home in Big Horn County costs roughly 20.3 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Big Horn County. The price-to-rent ratio in Wyoming is about 20.3.
| Metric | Big Horn County | Wyoming Avg | US Average |
|---|---|---|---|
| Median Home Price | $212,907 | $235,717 | $242,182 |
| Median Household Income | $60,545 | $74,833 | $78,145 |
| Price-to-Income Ratio | 3.5 | 3.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Big Horn County rose about 70.3%, while median household income rose about 35.8% between 2009 and 2023 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Big Horn County | Wyoming Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 62.6% | 62.3% | 58.2% |
| Rental Rate | 18.5% | 24.3% | 31.3% |
| Vacancy Rate | 18.9% | 13.4% | 10.6% |
| Median Tenure (years) | 16.0 | 14.0 | 15.0 |
| Median Year Moved In | 2010 | 2012 | 2011 |
Big Horn County has a homeownership rate of 62.6%, about the same as the Wyoming average of 62.3%. Its housing vacancy rate is 18.9%, compared with 13.4% in Wyoming.
Housing Stock
| Metric | Big Horn County | Wyoming Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.64 people | 2.38 people | 2.54 people |
| Median Structure Built Year | 1968 | 1979 | 1978 |
| Median Number of Rooms | 6.0 | 5.8 | 5.5 |
The typical housing unit in Big Horn County was built around 1968. On average, 2.6 people live in a home with about 6.0 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Big Horn County, Wyoming.
What is the median home price in Big Horn County, Wyoming?
The median home price in Big Horn County, Wyoming is $212,907, lower than the Wyoming average of $235,717.
What is the average home price in Big Horn County, Wyoming?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Big Horn County, Wyoming?
The median gross rent in Big Horn County, Wyoming is $875 per month, lower than the Wyoming average of $967.
What was the median gross rent in Big Horn County in 2020?
In 2020, the median gross rent in Big Horn County, Wyoming was $662 per month.
What is the price-to-rent ratio in Big Horn County, Wyoming?
The price-to-rent ratio in Big Horn County, Wyoming is about 20.3, meaning it would take roughly 20.3 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Big Horn County.
Are home prices or rent rising faster in Big Horn County, Wyoming?
Both home prices and rent are rising in Big Horn County, up about 9.4% and 5.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Big Horn County, Wyoming?
62.6% of households in Big Horn County, Wyoming own their home, higher than the Wyoming average of 62.3%.
What is the vacancy rate in Big Horn County, Wyoming?
The housing vacancy rate in Big Horn County, Wyoming is 18.9%, higher than the Wyoming average of 13.4%.