Wyoming Real Estate and Livability Trends
Wyoming's economic stability, indicated by the rise in average taxable income per tax return from $73,712.55 in 2013 to $114,671.43 in 2021, might appeal to real estate agents and investors eyeing stable property markets. Despite sharp fluctuations in state and local income taxes, the significant increase in median home values from $194,800 in 2015 to $269,900 in 2022 is notable. This is... Read more
Wyoming Market Trends
Wyoming's housing market has seen a steady climb in median home values from $194,800 in 2015 to $269,900 in 2022, which is more accelerated than the national average. The rise in residential energy tax credits, which surged from approximately $283.23 in 2013 to around $641.21 in 2017 and peaked at $4,008.00 in 2018, suggests significant fluctuations likely driven by legislative changes or... Read more
Median Value of Occupied Housing Units in Wyoming Over the Last 8 Years
Wyoming's housing market has seen a steady rise in median home values over the past eight years, with figures climbing from $194,800 in 2015 to $269,900 in 2022. This trend indicates a higher growth rate compared to the national median, which went from $125,500 to $179,400 during the same period. For potential investors or homeowners, the relatively strong increase in home values in Wyoming could signal promising returns and growing demand in the housing market. Such consistent appreciation may also reflect economic stability and a positive outlook for property development in the state.
Active Loans in Foreclosure/Bankruptcy/Deed in Lieu in Wyoming over the last 10 years
Active Loans 30-60 Days Past Due in Wyoming over the last 10 years in Wyoming
Perent of loans that are Active Loans 90-180 Days Past Due in Wyoming over the last 10 years in Wyoming
Residential Energy Tax Credit Per Tax Return in Wyoming Over the Last 9 Years
Over the last nine years, residential energy tax credits in Wyoming have shown significant fluctuations. Notably, the average credit per tax return jumped from approximately $283.23 in 2013 to around $641.21 in 2017, and saw a dramatic increase to $4,008.00 in 2018. Following this spike, the credits normalized somewhat but remained elevated, hovering between $1,190.36 and $1,578.66 from 2019 to 2021. These trends might indicate waves of legislative changes or shifts in consumer adoption of energy efficiency upgrades, crucial for investors, homeowners, and professionals planning financial or real estate ventures in Wyoming.
Average Real Estate Taxes Per Tax Return in Wyoming Over the Last 10 Years
Over the last decade, Wyoming has experienced a notable increase in average real estate taxes per tax return. Starting at $2,310.76 in 2012, the amount has gradually risen each year, hitting $7,358.01 in 2021. This trend could suggest either rising property values, higher tax rates, or a combination of both, potentially impacting investment decisions. Additionally, the significant jump from $3,140.92 in 2017 to $5,100.79 in 2018 may warrant further examination to understand underlying factors such as tax policy changes or shifts in the property market. These figures are valuable for those in real estate or considering relocation, offering insights into the financial landscape of property ownership in the state.
Percentage of Farm Returns in Wyoming Over the Last 10 Years
Farm tax returns in Wyoming have exhibited subtle growth over the last decade, peaking around 3.47% in 2016 before experiencing a slight decline to approximately 3.24% in 2021. This trend could reflect shifting economic conditions, changing agricultural practices, or evolving tax policies that may impact farm profitability and reporting. Understanding these trends is increasingly relevant for those considering investment opportunities or agricultural ventures in Wyoming, as they may indicate the region's agricultural stability and tax environment. This nuanced data offers valuable insights into the economic landscape of Wyoming's farming sector, which could influence property development and other related decisions.
Economic Outlook
Over the past nine years, Wyoming has experienced a consistent rise in average taxable income per tax return, reaching $114,671.43 in 2021, up from $73,712.55 in 2013. This may suggest growing economic stability, which is appealing for real estate agents and investors looking at potential for buoyant property markets. However, state and local income taxes have fluctuated sharply, climbing from $12,774.43 in 2012 to $63,202.05 by 2021, with notable spikes in 2013 and between 2018 and 2021.... Read more
Average Taxable Income per Tax Return in Wyoming over the last 9 years
Over the past nine years, Wyoming has seen a notable upward trend in average taxable income per tax return, peaking at $114,671.43 in 2021 after gradually rising from $73,712.55 in 2013. This consistent increase may indicate growing economic stability and potential for investment in the area. Real estate agents, appraisers, and prospective investors might find this trend particularly appealing, as higher incomes could suggest a buoyant property market and an improving standard of living. It also signals to insurance agents and those planning to build property that residents might have greater financial resilience.
Average State and Local Income Taxes Per Tax Return in Wyoming Over the Last 10 Years
State and local income taxes per tax return in Wyoming have shown significant fluctuations over the past decade. Starting at $12,774.43 in 2012, these costs saw a dramatic increase to $63,202.05 by 2021. Notably, there were sharp rises in 2013 and again between 2018 and 2021. Such volatility in tax liabilities can be crucial for potential investors and property builders in gauging financial planning. Real estate agents and insurance agents might find this trend impactful when advising clients on potential costs of living. For those contemplating moving to or appraising property in Wyoming, understanding this tax variability could influence decision-making.
Average Total Tax Liability Per Tax Return in Wyoming Over the Last 10 Years
Over the past decade, the average total tax liability per tax return in Wyoming has shown a notable upward trend, with some fluctuations. After a dip in 2016 to $13,636.82, values have generally climbed, peaking significantly in 2021 at $23,110.05. This trend could suggest potential rising incomes or changes in tax policies. For potential investors, real estate agents, or anyone contemplating moving to Wyoming, understanding these shifts might help in financial planning and forecasting.
Cost of Living in Wyoming
Safety trends & Data
Wyoming's property crime trends have fluctuated over the past five years, with fraud incidents peaking at 1,822 in 2018 before dropping to 861 by 2022. Vandalism also saw a decrease, moving from 425 cases in 2018 to 293 in 2022. Crimes like embezzlement and burglary experienced significant declines, with embezzlement falling from 36 instances to just 3, and burglary from 19 to 6 during the same period. Larceny-theft has shown a general downtrend, dropping from 243 cases in 2018 to 93 in 2022.... Read more
Property Crime Trends in Wyoming Over the Last 5 Years
Wyoming's property crime trends reveal varying degrees of frequent offenses over the past five years. Fraud consistently dominates the crime landscape, peaking at 1,822 incidents in 2018, though it saw a significant drop to 861 by 2022. Vandalism follows a similar trend but with less variability, from 425 cases in 2018 to 293 in 2022. Interestingly, crimes like embezzlement and burglary have shown a stark decline, with embezzlement dropping from 36 instances in 2018 to just 3 in 2022, and burglary decreasing from 19 to 6 within the same period. Larceny-theft appears relatively stable but reflects a general downtrend, from 243 cases in 2018 to 93 in 2022. These trends suggest a shift in the types of property crimes predominating the area, which might be crucial for investors, appraisers, real estate agents, and those considering moving to Wyoming.
Demographics
Wyoming's demographic profile implies a balanced gender distribution among adults, with slightly more males than females. Educational attainment shows a significant portion of the population just having a high school education or some college without a degree, hinting at potential areas for improving advanced education access. Age-wise, the population skews towards those aged 25 to 64, which may impact workforce dynamics and demand for health and social services. Racial diversity remains... Read more
Race Distribution in Wyoming (2022)
Educational Attainment in Wyoming (2022)
Age Distribution in Wyoming
Citizen Population in Wyoming (2022)
Political Trends & Data
In Wyoming, where approximately 69.5% of the vote went to Republicans in the 2020 Presidential Election, the real estate market might be influenced by the state's predominantly conservative voter base. This political landscape can subtly impact housing policies, regulations, and market preferences, potentially shaping the state's property development trends. Furthermore, the relatively small percentage of votes for Democrats (around 26.4%) and other smaller parties suggests that community... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Wyoming's voting pattern in the 2020 U.S. Presidential Election leaned heavily Republican, with the party securing approximately 69.5% of the vote. Democrats garnered about 26.4%, while Libertarians and other smaller parties attracted roughly 2% and 2.1% respectively. This suggests a predominantly conservative voter base in the state, which may influence future political strategies and campaigning efforts.
69.50% of voters voted for the Republican party in the 2020 Presidential Election
26.39% of voters voted for the Democrat party in the 2020 Presidential Election
2.07% of voters voted for the Libertarian party in the 2020 Presidential Election
2.04% of voters voted for the Other party in the 2020 Presidential Election
School Data
Over the past decade, Wyoming's student-to-teacher ratio hovered around 10 to 11 students per teacher, dipping well below the national average of 14. This suggests smaller class sizes, which could offer more individualized attention and potentially better academic outcomes. For families prioritizing education, this is a notable advantage and a key selling point for real estate agents. Investors and developers might see this as a sign of increased community desirability, driving more informed... Read more
Student-to-teacher ratio in Wyoming over the last 10 years
Over the past decade, Wyoming's student-to-teacher ratio fluctuated around 10 to 11 students per teacher, with notable highs in 2015 and 2023 at approximately 11 students per teacher. This figure consistently falls below the current U.S. national average of 14 students per teacher, suggesting smaller class sizes that could offer more individualized attention and potentially better academic outcomes. This lower ratio could be a compelling factor for families prioritizing education and for real estate agents highlighting the benefits of local schools. For investors and developers, understanding these educational trends and their potential effects on community desirability can drive more informed decisions. Lower student-to-teacher ratios may also influence appraisers and insurance agents by potentially raising property values and decreasing risks associated with overcrowded schools.
