Cost of Living in Cody, WY

With a cost of living index of 93, Cody, WY is slightly more affordable than average. Living here is 7% cheaper than the national average and 3% above the Wyoming state average of 90. Cody is a smaller community of 10,121 residents, where everyday costs can differ substantially from nearby larger cities.

Housing costs are the biggest factor in Cody's cost of living. The median monthly rent is $1,039 (21% below the US median of $1,319), and the median home value sits at $357,300 (17% above the national median of $304,900). At current prices, the median home costs roughly 5.2x the median household income — a stretch for many buyers, though not uncommon in today's market.

The median household income in Cody is $68,676, which is 9% lower than the national median of $75,149. Residents spend roughly 18% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.