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 | Niobrara County | Wyoming Avg | US Average |
|---|---|---|---|
| Median Home Price | $148,610 | $235,717 | $242,182 |
| Price Trend (Annual %) | -6.0% | 6.3% | 8.2% |
| Median Gross Rent | $774 | $967 | $1,342 |
| Rent Trend (Annual %) | 4.8% | 2.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Niobrara County is about 37% lower than in Wyoming. Rent is about 20% lower than the Wyoming average.
Median Home and Rent Price Trends
Median Home Prices, 2017-2021
Median Rent Prices, 2015-2023
Home prices and rent are moving in opposite directions in Niobrara County: home prices fell about 6.0% a year while rent rose about 4.8% a year. That is an unusual pattern worth watching.
Median rent in Niobrara County rose about 32.0% between 2015 and 2023, from $587 to $775. Over the same span, rent in Wyoming rose about 22.7%.
Affordability
On average, housing unit costs 3.1 yearly household incomes in Niobrara County.
Buying the median-priced home in Niobrara County costs roughly 16.0 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 Niobrara County. The price-to-rent ratio in Wyoming is about 20.3.
| Metric | Niobrara County | Wyoming Avg | US Average |
|---|---|---|---|
| Median Home Price | $148,610 | $235,717 | $242,182 |
| Median Household Income | $48,617 | $74,833 | $78,145 |
| Price-to-Income Ratio | 3.1 | 3.1 | 3.1 |
Home Prices vs Income Over Time
Between 2017 and 2021, the median home price in Niobrara County fell about 23.3%, while median household income rose about 12.1% 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 | Niobrara County | Wyoming Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 54.0% | 62.3% | 58.2% |
| Rental Rate | 28.8% | 24.3% | 31.3% |
| Vacancy Rate | 17.2% | 13.4% | 10.6% |
| Median Tenure (years) | 14.0 | 14.0 | 15.0 |
| Median Year Moved In | 2012 | 2012 | 2011 |
Niobrara County has a homeownership rate of 54.0%, lower than the Wyoming average of 62.3%. Its housing vacancy rate is 17.2%, compared with 13.4% in Wyoming.
Housing Stock
| Metric | Niobrara County | Wyoming Avg | US Average |
|---|---|---|---|
| Average Household Size | 1.92 people | 2.38 people | 2.54 people |
| Median Structure Built Year | 1959 | 1979 | 1978 |
| Median Number of Rooms | 5.9 | 5.8 | 5.5 |
The typical housing unit in Niobrara County was built around 1959. On average, 1.9 people live in a home with about 5.9 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Niobrara County, Wyoming.
What is the median home price in Niobrara County, Wyoming?
The median home price in Niobrara County, Wyoming is $148,610, lower than the Wyoming average of $235,717.
What is the average home price in Niobrara 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 Niobrara County, Wyoming?
The median gross rent in Niobrara County, Wyoming is $775 per month, lower than the Wyoming average of $967.
What was the median gross rent in Niobrara County in 2020?
In 2020, the median gross rent in Niobrara County, Wyoming was $823 per month.
What is the price-to-rent ratio in Niobrara County, Wyoming?
The price-to-rent ratio in Niobrara County, Wyoming is about 16.0, meaning it would take roughly 16.0 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 Niobrara County.
Are home prices or rent rising faster in Niobrara County, Wyoming?
Home prices and rent are moving in opposite directions in Niobrara County: home prices fell about 6.0% a year while rent rose about 4.8% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Niobrara County, Wyoming?
54.0% of households in Niobrara County, Wyoming own their home, lower than the Wyoming average of 62.3%.
What is the vacancy rate in Niobrara County, Wyoming?
The housing vacancy rate in Niobrara County, Wyoming is 17.2%, higher than the Wyoming average of 13.4%.