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 | Sublette County | Wyoming Avg | US Average |
|---|---|---|---|
| Median Home Price | $264,285 | $235,717 | $242,182 |
| Price Trend (Annual %) | 6.4% | 6.3% | 8.2% |
| Median Gross Rent | $1,116 | $967 | $1,342 |
| Rent Trend (Annual %) | 1.0% | 2.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Sublette County is about 12% higher than in Wyoming. Rent is about 15% 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 Sublette County, up about 6.4% and 1.0% a year respectively. Home prices are changing faster.
Median rent in Sublette County fell about 4.7% between 2015 and 2023, from $1,171 to $1,116. Over the same span, rent in Wyoming rose about 22.7%.
Affordability
On average, housing unit costs 3.2 yearly household incomes in Sublette County.
Buying the median-priced home in Sublette County costs roughly 19.7 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 Sublette County. The price-to-rent ratio in Wyoming is about 20.3.
| Metric | Sublette County | Wyoming Avg | US Average |
|---|---|---|---|
| Median Home Price | $264,285 | $235,717 | $242,182 |
| Median Household Income | $83,486 | $74,833 | $78,145 |
| Price-to-Income Ratio | 3.2 | 3.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Sublette County fell about 14.1%, while median household income rose about 14.2% 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 | Sublette County | Wyoming Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 57.5% | 62.3% | 58.2% |
| Rental Rate | 13.4% | 24.3% | 31.3% |
| Vacancy Rate | 29.0% | 13.4% | 10.6% |
| Median Tenure (years) | 16.0 | 14.0 | 15.0 |
| Median Year Moved In | 2010 | 2012 | 2011 |
Sublette County has a homeownership rate of 57.5%, lower than the Wyoming average of 62.3%. Its housing vacancy rate is 29.0%, compared with 13.4% in Wyoming.
Housing Stock
| Metric | Sublette County | Wyoming Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.36 people | 2.38 people | 2.54 people |
| Median Structure Built Year | 1984 | 1979 | 1978 |
| Median Number of Rooms | 5.1 | 5.8 | 5.5 |
The typical housing unit in Sublette County was built around 1984. On average, 2.4 people live in a home with about 5.1 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Sublette County, Wyoming.
What is the median home price in Sublette County, Wyoming?
The median home price in Sublette County, Wyoming is $264,285, higher than the Wyoming average of $235,717.
What is the average home price in Sublette 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 Sublette County, Wyoming?
The median gross rent in Sublette County, Wyoming is $1,116 per month, higher than the Wyoming average of $967.
What was the median gross rent in Sublette County in 2020?
In 2020, the median gross rent in Sublette County, Wyoming was $876 per month.
What is the price-to-rent ratio in Sublette County, Wyoming?
The price-to-rent ratio in Sublette County, Wyoming is about 19.7, meaning it would take roughly 19.7 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 Sublette County.
Are home prices or rent rising faster in Sublette County, Wyoming?
Both home prices and rent are rising in Sublette County, up about 6.4% and 1.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Sublette County, Wyoming?
57.5% of households in Sublette County, Wyoming own their home, lower than the Wyoming average of 62.3%.
What is the vacancy rate in Sublette County, Wyoming?
The housing vacancy rate in Sublette County, Wyoming is 29.0%, higher than the Wyoming average of 13.4%.