Cost of Living in Ranchester, WY

With a cost of living index of 80, Ranchester, WY is a very affordable place to live. Living here is 20% cheaper than the national average and 10% below the Wyoming state average of 90. Ranchester is a small community of 1,069 residents.

Housing costs are the biggest factor in Ranchester's cost of living. The median monthly rent is $765 (42% below the US median of $1,319), and the median home value sits at $295,900 (3% below the national median of $304,900). At current prices, the median home costs roughly 4.5x the median household income — a moderately affordable ratio by today's standards.

The median household income in Ranchester is $65,568, which is 13% lower than the national median of $75,149. Residents spend roughly 14% 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.