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 | Natrona County | Wyoming Avg | US Average |
|---|---|---|---|
| Median Home Price | $190,813 | $235,717 | $242,182 |
| Price Trend (Annual %) | 0.5% | 6.3% | 8.2% |
| Median Gross Rent | $972 | $967 | $1,342 |
| Rent Trend (Annual %) | 2.3% | 2.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Natrona County is about 19% lower than in Wyoming. Rent is about 1% higher 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 Natrona County, up about 0.5% and 2.3% a year respectively. Rent is changing faster.
Median rent in Natrona County rose about 17.7% between 2015 and 2023, from $826 to $972. Over the same span, rent in Wyoming rose about 22.7%.
Affordability
On average, housing unit costs 2.7 yearly household incomes in Natrona County.
Buying the median-priced home in Natrona County 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 Natrona County. The price-to-rent ratio in Wyoming is about 20.3.
| Metric | Natrona County | Wyoming Avg | US Average |
|---|---|---|---|
| Median Home Price | $190,813 | $235,717 | $242,182 |
| Median Household Income | $71,785 | $74,833 | $78,145 |
| Price-to-Income Ratio | 2.7 | 3.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Natrona County rose about 33.5%, while median household income rose about 42.5% 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 | Natrona County | Wyoming Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 66.0% | 62.3% | 58.2% |
| Rental Rate | 23.7% | 24.3% | 31.3% |
| Vacancy Rate | 10.3% | 13.4% | 10.6% |
| Median Tenure (years) | 13.0 | 14.0 | 15.0 |
| Median Year Moved In | 2013 | 2012 | 2011 |
Natrona County has a homeownership rate of 66.0%, higher than the Wyoming average of 62.3%. Its housing vacancy rate is 10.3%, compared with 13.4% in Wyoming.
Housing Stock
| Metric | Natrona County | Wyoming Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.36 people | 2.38 people | 2.54 people |
| Median Structure Built Year | 1976 | 1979 | 1978 |
| Median Number of Rooms | 5.8 | 5.8 | 5.5 |
The typical housing unit in Natrona County was built around 1976. On average, 2.4 people live in a home with about 5.8 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Natrona County, Wyoming.
What is the median home price in Natrona County, Wyoming?
The median home price in Natrona County, Wyoming is $190,813, lower than the Wyoming average of $235,717.
What is the average home price in Natrona 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 Natrona County, Wyoming?
The median gross rent in Natrona County, Wyoming is $972 per month, higher than the Wyoming average of $967.
What was the median gross rent in Natrona County in 2020?
In 2020, the median gross rent in Natrona County, Wyoming was $845 per month.
What is the price-to-rent ratio in Natrona County, Wyoming?
The price-to-rent ratio in Natrona County, 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 Natrona County.
Are home prices or rent rising faster in Natrona County, Wyoming?
Both home prices and rent are rising in Natrona County, up about 0.5% and 2.3% a year respectively. Rent is changing faster.
What is the homeownership rate in Natrona County, Wyoming?
66.0% of households in Natrona County, Wyoming own their home, higher than the Wyoming average of 62.3%.
What is the vacancy rate in Natrona County, Wyoming?
The housing vacancy rate in Natrona County, Wyoming is 10.3%, lower than the Wyoming average of 13.4%.