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 | Lincoln County | Wyoming Avg | US Average |
|---|---|---|---|
| Median Home Price | $194,256 | $235,717 | $242,182 |
| Price Trend (Annual %) | 1.8% | 6.3% | 8.2% |
| Median Gross Rent | $867 | $967 | $1,342 |
| Rent Trend (Annual %) | 1.3% | 2.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Lincoln County is about 18% 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 Lincoln County, up about 1.8% and 1.3% a year respectively. Home prices are changing faster.
Median rent in Lincoln County rose about 9.0% between 2015 and 2023, from $795 to $867. Over the same span, rent in Wyoming rose about 22.7%.
Affordability
On average, housing unit costs 2.2 yearly household incomes in Lincoln County.
Buying the median-priced home in Lincoln County costs roughly 18.7 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 Lincoln County. The price-to-rent ratio in Wyoming is about 20.3.
| Metric | Lincoln County | Wyoming Avg | US Average |
|---|---|---|---|
| Median Home Price | $194,256 | $235,717 | $242,182 |
| Median Household Income | $86,945 | $74,833 | $78,145 |
| Price-to-Income Ratio | 2.2 | 3.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Lincoln County rose about 33.0%, while median household income rose about 50.3% between 2009 and 2023 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Lincoln County | Wyoming Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 64.6% | 62.3% | 58.2% |
| Rental Rate | 16.1% | 24.3% | 31.3% |
| Vacancy Rate | 19.4% | 13.4% | 10.6% |
| Median Tenure (years) | 16.0 | 14.0 | 15.0 |
| Median Year Moved In | 2010 | 2012 | 2011 |
Lincoln County has a homeownership rate of 64.6%, higher than the Wyoming average of 62.3%. Its housing vacancy rate is 19.4%, compared with 13.4% in Wyoming.
Housing Stock
| Metric | Lincoln County | Wyoming Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.55 people | 2.38 people | 2.54 people |
| Median Structure Built Year | 1985 | 1979 | 1978 |
| Median Number of Rooms | 5.7 | 5.8 | 5.5 |
The typical housing unit in Lincoln County was built around 1985. On average, 2.6 people live in a home with about 5.7 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Lincoln County, Wyoming.
What is the median home price in Lincoln County, Wyoming?
The median home price in Lincoln County, Wyoming is $194,256, lower than the Wyoming average of $235,717.
What is the average home price in Lincoln 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 Lincoln County, Wyoming?
The median gross rent in Lincoln County, Wyoming is $867 per month, lower than the Wyoming average of $967.
What was the median gross rent in Lincoln County in 2020?
In 2020, the median gross rent in Lincoln County, Wyoming was $710 per month.
What is the price-to-rent ratio in Lincoln County, Wyoming?
The price-to-rent ratio in Lincoln County, Wyoming is about 18.7, meaning it would take roughly 18.7 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 Lincoln County.
Are home prices or rent rising faster in Lincoln County, Wyoming?
Both home prices and rent are rising in Lincoln County, up about 1.8% and 1.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Lincoln County, Wyoming?
64.6% of households in Lincoln County, Wyoming own their home, higher than the Wyoming average of 62.3%.
What is the vacancy rate in Lincoln County, Wyoming?
The housing vacancy rate in Lincoln County, Wyoming is 19.4%, higher than the Wyoming average of 13.4%.