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 | Teton County | Wyoming Avg | US Average |
|---|---|---|---|
| Median Home Price | $2,000,000 | $235,717 | $242,182 |
| Price Trend (Annual %) | 9.7% | 6.3% | 8.2% |
| Median Gross Rent | $1,757 | $967 | $1,342 |
| Rent Trend (Annual %) | 5.9% | 2.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Teton County is about 748% higher than in Wyoming. Rent is about 82% 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 Teton County, up about 9.7% and 5.9% a year respectively. Home prices are changing faster.
Median rent in Teton County rose about 57.9% between 2015 and 2023, from $1,113 to $1,757. Over the same span, rent in Wyoming rose about 22.7%.
Affordability
On average, housing unit costs 17.6 yearly household incomes in Teton County.
Buying the median-priced home in Teton County costs roughly 94.9 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Teton County. The price-to-rent ratio in Wyoming is about 20.3.
| Metric | Teton County | Wyoming Avg | US Average |
|---|---|---|---|
| Median Home Price | $2,000,000 | $235,717 | $242,182 |
| Median Household Income | $113,400 | $74,833 | $78,145 |
| Price-to-Income Ratio | 17.6 | 3.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Teton County rose about 202.0%, while median household income rose about 63.6% between 2009 and 2023 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Teton County | Wyoming Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 42.8% | 62.3% | 58.2% |
| Rental Rate | 26.7% | 24.3% | 31.3% |
| Vacancy Rate | 30.5% | 13.4% | 10.6% |
| Median Tenure (years) | 13.0 | 14.0 | 15.0 |
| Median Year Moved In | 2013 | 2012 | 2011 |
Teton County has a homeownership rate of 42.8%, lower than the Wyoming average of 62.3%. Its housing vacancy rate is 30.5%, compared with 13.4% in Wyoming.
Housing Stock
| Metric | Teton County | Wyoming Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.39 people | 2.38 people | 2.54 people |
| Median Structure Built Year | 1989 | 1979 | 1978 |
| Median Number of Rooms | 4.8 | 5.8 | 5.5 |
The typical housing unit in Teton County was built around 1989. On average, 2.4 people live in a home with about 4.8 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Teton County, Wyoming.
What is the median home price in Teton County, Wyoming?
The median home price in Teton County, Wyoming is $2,000,000, higher than the Wyoming average of $235,717.
What is the average home price in Teton 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 Teton County, Wyoming?
The median gross rent in Teton County, Wyoming is $1,757 per month, higher than the Wyoming average of $967.
What was the median gross rent in Teton County in 2020?
In 2020, the median gross rent in Teton County, Wyoming was $1,401 per month.
What is the price-to-rent ratio in Teton County, Wyoming?
The price-to-rent ratio in Teton County, Wyoming is about 94.9, meaning it would take roughly 94.9 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Teton County.
Are home prices or rent rising faster in Teton County, Wyoming?
Both home prices and rent are rising in Teton County, up about 9.7% and 5.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Teton County, Wyoming?
42.8% of households in Teton County, Wyoming own their home, lower than the Wyoming average of 62.3%.
What is the vacancy rate in Teton County, Wyoming?
The housing vacancy rate in Teton County, Wyoming is 30.5%, higher than the Wyoming average of 13.4%.