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 | Fremont County | Wyoming Avg | US Average |
|---|---|---|---|
| Median Home Price | $240,624 | $235,717 | $242,182 |
| Price Trend (Annual %) | 9.6% | 6.3% | 8.2% |
| Median Gross Rent | $857 | $967 | $1,342 |
| Rent Trend (Annual %) | 2.7% | 2.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Fremont County is about 2% higher than in Wyoming. Rent is about 11% 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 Fremont County, up about 9.6% and 2.7% a year respectively. Home prices are changing faster.
Median rent in Fremont County rose about 21.1% between 2015 and 2023, from $708 to $857. Over the same span, rent in Wyoming rose about 22.7%.
Affordability
On average, housing unit costs 3.7 yearly household incomes in Fremont County.
Buying the median-priced home in Fremont County costs roughly 23.4 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 Fremont County. The price-to-rent ratio in Wyoming is about 20.3.
| Metric | Fremont County | Wyoming Avg | US Average |
|---|---|---|---|
| Median Home Price | $240,624 | $235,717 | $242,182 |
| Median Household Income | $65,729 | $74,833 | $78,145 |
| Price-to-Income Ratio | 3.7 | 3.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Fremont County rose about 67.1%, while median household income rose about 49.9% 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 | Fremont County | Wyoming Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 59.9% | 62.3% | 58.2% |
| Rental Rate | 24.8% | 24.3% | 31.3% |
| Vacancy Rate | 15.2% | 13.4% | 10.6% |
| Median Tenure (years) | 16.0 | 14.0 | 15.0 |
| Median Year Moved In | 2010 | 2012 | 2011 |
Fremont County has a homeownership rate of 59.9%, lower than the Wyoming average of 62.3%. Its housing vacancy rate is 15.2%, compared with 13.4% in Wyoming.
Housing Stock
| Metric | Fremont County | Wyoming Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.60 people | 2.38 people | 2.54 people |
| Median Structure Built Year | 1979 | 1979 | 1978 |
| Median Number of Rooms | 5.4 | 5.8 | 5.5 |
The typical housing unit in Fremont County was built around 1979. On average, 2.6 people live in a home with about 5.4 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Fremont County, Wyoming.
What is the median home price in Fremont County, Wyoming?
The median home price in Fremont County, Wyoming is $240,624, higher than the Wyoming average of $235,717.
What is the average home price in Fremont 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 Fremont County, Wyoming?
The median gross rent in Fremont County, Wyoming is $857 per month, lower than the Wyoming average of $967.
What was the median gross rent in Fremont County in 2020?
In 2020, the median gross rent in Fremont County, Wyoming was $784 per month.
What is the price-to-rent ratio in Fremont County, Wyoming?
The price-to-rent ratio in Fremont County, Wyoming is about 23.4, meaning it would take roughly 23.4 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 Fremont County.
Are home prices or rent rising faster in Fremont County, Wyoming?
Both home prices and rent are rising in Fremont County, up about 9.6% and 2.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Fremont County, Wyoming?
59.9% of households in Fremont County, Wyoming own their home, lower than the Wyoming average of 62.3%.
What is the vacancy rate in Fremont County, Wyoming?
The housing vacancy rate in Fremont County, Wyoming is 15.2%, higher than the Wyoming average of 13.4%.