Cost of Living in Lovell, WY

With a cost of living index of 71, Lovell, WY is one of the most affordable cities in the country. Living here is 29% cheaper than the national average and 20% below the Wyoming state average of 90. Lovell is a small community of 2,590 residents.

Housing costs are the biggest factor in Lovell's cost of living. The median monthly rent is $690 (48% below the US median of $1,319), and the median home value sits at $211,500 (31% below the national median of $304,900). At current prices, the median home costs roughly 3.4x the median household income — a moderately affordable ratio by today's standards.

The median household income in Lovell is $61,620, which is 18% lower than the national median of $75,149. Residents spend roughly 13% 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.