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 | Park County | Wyoming Avg | US Average |
|---|---|---|---|
| Median Home Price | $162,500 | $235,717 | $242,182 |
| Price Trend (Annual %) | -2.6% | 6.3% | 8.2% |
| Median Gross Rent | $933 | $967 | $1,342 |
| Rent Trend (Annual %) | 3.8% | 2.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Park County is about 31% lower than in Wyoming. Rent is about 4% lower than the Wyoming average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Home prices and rent are moving in opposite directions in Park County: home prices fell about 2.6% a year while rent rose about 3.8% a year. That is an unusual pattern worth watching.
Median rent in Park County rose about 35.1% between 2015 and 2023, from $691 to $933. Over the same span, rent in Wyoming rose about 22.7%.
Affordability
On average, housing unit costs 2.3 yearly household incomes in Park County.
Buying the median-priced home in Park County costs roughly 14.5 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Park County. The price-to-rent ratio in Wyoming is about 20.3.
| Metric | Park County | Wyoming Avg | US Average |
|---|---|---|---|
| Median Home Price | $162,500 | $235,717 | $242,182 |
| Median Household Income | $71,229 | $74,833 | $78,145 |
| Price-to-Income Ratio | 2.3 | 3.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Park County fell about 14.9%, while median household income rose about 61.5% 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 | Park County | Wyoming Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 66.4% | 62.3% | 58.2% |
| Rental Rate | 22.5% | 24.3% | 31.3% |
| Vacancy Rate | 11.0% | 13.4% | 10.6% |
| Median Tenure (years) | 15.0 | 14.0 | 15.0 |
| Median Year Moved In | 2011 | 2012 | 2011 |
Park County has a homeownership rate of 66.4%, higher than the Wyoming average of 62.3%. Its housing vacancy rate is 11.0%, compared with 13.4% in Wyoming.
Housing Stock
| Metric | Park County | Wyoming Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.22 people | 2.38 people | 2.54 people |
| Median Structure Built Year | 1982 | 1979 | 1978 |
| Median Number of Rooms | 5.9 | 5.8 | 5.5 |
The typical housing unit in Park County was built around 1982. On average, 2.2 people live in a home with about 5.9 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Park County, Wyoming.
What is the median home price in Park County, Wyoming?
The median home price in Park County, Wyoming is $162,500, lower than the Wyoming average of $235,717.
What is the average home price in Park 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 Park County, Wyoming?
The median gross rent in Park County, Wyoming is $933 per month, lower than the Wyoming average of $967.
What was the median gross rent in Park County in 2020?
In 2020, the median gross rent in Park County, Wyoming was $914 per month.
What is the price-to-rent ratio in Park County, Wyoming?
The price-to-rent ratio in Park County, Wyoming is about 14.5, meaning it would take roughly 14.5 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Park County.
Are home prices or rent rising faster in Park County, Wyoming?
Home prices and rent are moving in opposite directions in Park County: home prices fell about 2.6% a year while rent rose about 3.8% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Park County, Wyoming?
66.4% of households in Park County, Wyoming own their home, higher than the Wyoming average of 62.3%.
What is the vacancy rate in Park County, Wyoming?
The housing vacancy rate in Park County, Wyoming is 11.0%, lower than the Wyoming average of 13.4%.