Casper, Wyoming Housing Market Prices
Casper Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 26% below the Wyoming median$193,043
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Median rent 1% below the Wyoming median$981
Housing Market Overview
| Metric | Casper | Wyoming Avg | US Average |
|---|---|---|---|
| Median Home Price | $193,043 | $262,084 | $248,835 |
| Price Trend (Annual %) | 2.4% | 6.9% | 7.5% |
| Median Gross Rent | $981 | $991 | $1,407 |
| Rent Trend (Annual %) | 2.6% | 2.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Casper is about 26% lower than in Wyoming. Rent is about 1% lower than the Wyoming average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Casper, up about 2.4% and 2.6% a year respectively. Rent is changing faster.
Median rent in Casper rose about 22.4% between 2015 and 2024, from $801 to $981. Over the same span, rent in Wyoming rose about 25.7%.
Affordability
On average, housing unit costs 3.0 yearly household incomes in Casper.
Buying the median-priced home in Casper costs roughly 16.4 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Casper. The price-to-rent ratio in Wyoming is about 22.0.
| Metric | Casper | Wyoming Avg | US Average |
|---|---|---|---|
| Median Home Price | $193,043 | $262,084 | $248,835 |
| Median Household Income | $65,397 | $76,390 | $80,455 |
| Price-to-Income Ratio | 3.0 | 3.4 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Casper rose about 40.5%, while median household income rose about 38.5% between 2009 and 2025 — 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 | Casper | Wyoming Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 61.7% | 63.0% | 58.5% |
| Rental Rate | 29.7% | 24.8% | 31.2% |
| Vacancy Rate | 8.5% | 12.2% | 10.2% |
| Median Tenure (years) | 12.0 | 14.0 | 15.0 |
| Median Year Moved In | 2014 | 2012 | 2011 |
Casper has a homeownership rate of 61.7%, lower than the Wyoming average of 63.0%. Its housing vacancy rate is 8.5%, compared with 12.2% in Wyoming.
Housing Stock
| Metric | Casper | Wyoming Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.21 people | 2.34 people | 2.53 people |
| Median Structure Built Year | 1969 | 1980 | 1978 |
| Median Number of Rooms | 5.6 | 5.8 | 5.5 |
The typical housing unit in Casper was built around 1969. On average, 2.2 people live in a home with about 5.6 rooms, staying for about 12.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Casper, Wyoming.
What is the median home price in Casper, Wyoming?
The median home price in Casper, Wyoming is $193,043, lower than the Wyoming average of $262,084.
What is the average home price in Casper, Wyoming?
The typical home price in Casper, Wyoming, reported as the median sale price, is $193,043. 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 Casper, Wyoming?
The median gross rent in Casper, Wyoming is $981 per month, lower than the Wyoming average of $991.
What was the median gross rent in Casper in 2020?
In 2020, the median gross rent in Casper, Wyoming was $805 per month.
What is the price-to-rent ratio in Casper, Wyoming?
The price-to-rent ratio in Casper, Wyoming is about 16.4, meaning it would take roughly 16.4 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Casper.
Are home prices or rent rising faster in Casper, Wyoming?
Both home prices and rent are rising in Casper, up about 2.4% and 2.6% a year respectively. Rent is changing faster.
What is the homeownership rate in Casper, Wyoming?
61.7% of households in Casper, Wyoming own their home, lower than the Wyoming average of 63.0%.
What is the vacancy rate in Casper, Wyoming?
The housing vacancy rate in Casper, Wyoming is 8.5%, lower than the Wyoming average of 12.2%.
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