Cost of Living in Hot Springs County, Wyoming
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Hot Springs County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Hot Springs County ranks #918 of 3,144 counties for affordability (top 29%)
Data Story
About Cost of Living in Hot Springs County, Wyoming
Hot Springs: Slightly Stretched Nationally
Hot Springs County renters spend 18.2% of their income on housing, above the national benchmark of roughly 14% but closer than many rural counties nationwide. The median household income of $64,375 falls short of the national average of $74,755, putting residents in a tighter squeeze than typical American households.
Middle of the Pack in Wyoming
Hot Springs' 18.2% rent-to-income ratio ranks above Wyoming's state average of 15.5%, reflecting higher-than-average housing cost pressure. Among Wyoming's eight surveyed counties, Hot Springs falls in the moderate affordability band, neither the most nor least strained.
Competing with Regional Housing Markets
At $976/month for median rent, Hot Springs tracks slightly above the state average of $937 and sits between similar-sized Wyoming counties. Median home values of $214,400 are relatively modest regionally, offering more accessible ownership pathways than neighbors like Laramie County ($324,900).
Where Hot Springs Income Goes
Renters dedicate $976 monthly to housing while homeowners pay $586 in monthly ownership costs—a 16-point gap that rewards building equity early. With median household income of $64,375 annually, a typical renter household spends 18.2% of gross income on housing, leaving limited budget cushion for other essentials.
Consider Hot Springs If You Value Balance
Hot Springs offers modest rent and home prices compared to wealthier Wyoming counties, making it worth exploring if you're relocating from the coasts or high-growth metros. Run the numbers: at $976/month rent versus ownership costs of $586, first-time homebuyers may find unexpected affordability in this quiet corner of Wyoming.
Cost of Living Advisory: Hot Springs County
Affordability Verdict
Hot Springs County offers affordable rental housing at a median of $976/month — about 18.2% of the typical household income here.
Rent vs. Own
Renters in Hot Springs County pay $976/month on average, compared to $586/month for homeowners. This market favors buyers by about 40%.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $39,040/year. For owner costs at the 28% rule, the required income is roughly $25,114/year. With a median household income of $64,375, most households can comfortably afford rent here. Notably, 26.0% of renter households in Hot Springs County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Within Wyoming, Hot Springs County is more affordable than Sweetwater County by roughly 7% ($976/mo vs $913/mo).
Affordability Calculator
See how your income compares to housing costs in Hot Springs County
Rent Burden
18.2%
of gross income
Max Housing (28% Rule)
$1,502
per month
Owner Cost Burden
10.9%
of gross income
The median home in Hot Springs County may be a stretch
Median home value is $214,400. Estimated monthly cost: $1,712 vs. your max of $1,502.
Rent Affordability Guide
Income Needed Calculator
See how much you need to earn to comfortably afford housing
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Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.
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