Wyoming Residential Rent and Rental Statistics
The median monthly gross residential rent in Wyoming was $822 in 2019 according to the Census ACS survey.1 Average gross rent was $820 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Wyoming median and average rent data will be released in September of 2021.
Data is also available below for Wyoming rental vacancy rates, Wyoming rent as a percent of median income and the fraction of renters in Wyoming.
Real Gross Rent in Wyoming (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Wyoming Median Gross Rent | $822 | -1.32% | -6.59% |
Wyoming Real Gross Rent Trends
Median gross rent for Wyoming peaked in real terms in 2016 at $880 and is now $58 (6.59%) lower. Average gross rent for Wyoming peaked in real terms in 2016 at $886 and is now $66 (7.45%) lower.
Real Gross Rent in Wyoming: Median, Average, US Median
Real Gross Rent History for Wyoming
| Date | US Median | Wyoming Median | Wyoming Average |
|---|---|---|---|
| 2019 | $1,097 | $822 | $820 |
| 2018 | $1,077 | $833 | $827 |
| 2017 | $1,043 | $858 | $844 |
| 2016 | $1,027 | $880 | $886 |
| 2015 | $1,017 | $865 | $851 |
| 2014 | $986 | $836 | $837 |
| 2013 | $953 | $821 | $811 |
| 2012 | $940 | $789 | $784 |
| 2011 | $941 | $820 | $811 |
| 2010 | $955 | $774 | $729 |
| 2009 | $960 | $798 | $770 |
| 2007 | $927 | $747 | $731 |
| 2005 | $910 | $671 | $675 |
Wyoming Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for Wyoming was 12.85% according to Census ACS data.
Rental Vacancy Rate in Wyoming
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Wyoming | 12.85% | +0.67% | +2.02% |
Trends in Wyoming Rental Vacancy Rate
The rental vacancy rate in Wyoming peaked in 2017 at 16.11%. Since then it has fallen by 3.26% to 12.85%. Data records for this series originated in 2005.
Rental Vacancy Rate: Wyoming, US
Historical Rental Vacancy Rate data for Wyoming
| Date | US | Wyoming |
|---|---|---|
| 2019 | 5.97% | 12.85% |
| 2018 | 6.15% | 12.18% |
| 2017 | 6.18% | 16.11% |
| 2016 | 5.89% | 10.83% |
| 2015 | 5.85% | 9.97% |
| 2014 | 6.32% | 6.92% |
| 2013 | 6.49% | 8.15% |
| 2012 | 6.77% | 8.13% |
| 2011 | 7.40% | 9.05% |
| 2010 | 8.17% | 6.36% |
| 2009 | 8.43% | 7.03% |
| 2007 | 7.87% | 5.25% |
| 2005 | 7.74% | 3.87% |
Wyoming Rent as a Fraction of Income
Using median household income data for Wyoming, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Wyoming, median monthly gross rent as a fraction of median household income was 15.17% in 2019 according to the ACS.
Wyoming Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Wyoming | 15.17% | -0.76% | -1.66% |
Trends in Wyoming Rent as a Fraction of Income
The fraction of median Wyoming household income required to pay median monthly gross rent peaked in 2016 (relative to the 2005 series origin) at 16.83%. Since then it has fallen by 1.66% to 15.17%.
Fraction of Income towards Rent: Wyoming, US
Historical Data for Annual Rent as a Fraction of Income in Wyoming
| Date | US | Wyoming |
|---|---|---|
| 2019 | 20.03% | 15.17% |
| 2018 | 20.50% | 15.94% |
| 2017 | 20.13% | 16.52% |
| 2016 | 20.43% | 16.83% |
| 2015 | 20.63% | 16.24% |
| 2014 | 20.89% | 16.66% |
| 2013 | 20.78% | 15.93% |
| 2012 | 20.65% | 16.22% |
| 2011 | 20.70% | 16.17% |
| 2010 | 20.50% | 15.54% |
| 2009 | 20.12% | 15.95% |
| 2007 | 18.66% | 14.75% |
| 2005 | 18.89% | 13.95% |
Renter Fraction in Wyoming
You can calculate the renter fraction in Wyoming in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Wyoming as a fraction of total Wyoming households. In 2019 28.12% of households were renters according to Census ACS data.
Wyoming Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Wyoming | 28.12% | -1.60% | -3.06% |
Trends in the Wyoming Renter Fraction
The Wyoming household renter fraction peaked in in 2014 at 33.10% and is now 4.98% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Wyoming, US
History of Wyoming Renter Fraction
| Date | US | Wyoming |
|---|---|---|
| 2019 | 35.89% | 28.12% |
| 2018 | 36.05% | 29.72% |
| 2017 | 36.13% | 29.23% |
| 2016 | 36.88% | 31.18% |
| 2015 | 36.97% | 32.04% |
| 2014 | 36.90% | 33.10% |
| 2013 | 36.50% | 30.94% |
| 2012 | 36.09% | 30.95% |
| 2011 | 35.42% | 29.35% |
| 2010 | 34.65% | 30.31% |
| 2009 | 34.13% | 29.08% |
| 2007 | 32.80% | 30.74% |
| 2005 | 33.10% | 28.51% |
1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability. ↩
2. Real dollars are calculated using the CPI-U less shelter series. ↩
3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied. ↩
