People who are thinking of retiring to Wyoming are a self-selecting bunch. They already know that the state is lightly populated, with fewer than 600,000 people to call it home. But that number doesn’t mean much unless you consider density, and indeed, Wyoming is the least densely-populated state in the continental U.S. In a state-by-state contest, you’d have to go to Alaska to be more alone.
Wyoming is called the Equality State because it was the first state to extend to women the right to vote, hold public office, and serve on juries, but not many women — or men — live amid its spectacular natural beauty or its low taxes. In fact, Wyoming carries the second lowest tax burden in the country (there is no state income tax). In this case, too, it’s second only to snowy Alaska. (See our Wyoming State Tax Guide).
Wyoming boasts scenery that is so impressive — in many ways it’s incomparable among the 50 states — that many Americans have skied, hiked, and simply marveled in this rather remote, landlocked state, despite its tiny population. Grand Teton National Park, Yellowstone National Park, and the enigmatic Devils Tower National Monument (made famous by its repeated mystical appearances in the sci-fi classic Close Encounters of the Third Kind) are all here. Top-notch skiing draws the winter crowds, and come July, Wyoming is a premier summer resort destination.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
If you want the closest thing to a big city, try Cheyenne
- Population: 65,132 [Census]
- Cost of living: 4% lower than the U.S. average [RentCafe]
- Average single-family home price: $367,236 [Zillow]
- Average rent: $1,375 [Zillow]
With around 65,000 people, Wyoming’s state capital contains a population comparable to that of Santa Cruz, Calif., Daytona Beach, Florida, and Alpharetta, Georgia — so you’re unlikely to die of loneliness.
Cheyenne does have a downtown, and within it, a seven-block-long historic district anchored by the Depot Museum and Plaza, which functions as a kind of town square and cultural hub. The museum displays the history of the city, and the plaza is the site of free summer concerts every Friday, an annual brewers’ festival, and educational tours.
Pubs, cafes, coffee shops, and restaurants are all within walking distance of downtown, but most homes are at least a few miles away. Three- and four-bedroom houses are older and typically cost between $400,000 and $500,000, but keep your eyes peeled for new construction (or renovated) townhouses and condos.
Outdoor enthusiasts will want to take advantage of the convenient hiking and biking trails, picnic spots, and fishing holes, from Lions Park in the center of the city to Curt Gowdy State Park, a 30-minute drive from Depot Plaza.
If you want a world-class resort destination, try Jackson Hole
- Population: 22,695 [Census]
- Cost of living: 39% higher than the U.S. average [ERI]
- Average single-family home price: $1,968,484 [Zillow]
- Average rent: $6,125 [Zillow]
If you’ve ever visited Wyoming, chances are you’ve been to Jackson, which is why the recorded population of this resort town — only 10,000 — feels quite low.
With its famous town square featuring entrances made of elk antlers fashioned into arches, the eminently walkable Jackson is filled with bars, cafes, galleries, boutiques, and a century-old playhouse. Breakfasts are especially indulgent events (check out the Bunnery and Persephone).
Friendly and charming as the cowboy town is, Jackson’s real calling card is its access to some of the nation’s most iconic scenery, wildlife viewing, and recreational offerings. Teton Village, which surrounds Jackson Hole Mountain Resort, is located twelve miles to the north and is a hub of activity for its winter sports and luxury hotels; the Four Seasons chain planted its flag here in 2003.
Keep driving to reach Grand Teton National Park and Old Faithful in Yellowstone National Park; on the way, the road in the shadow of the mountains (the “hole” refers to the valley of Jackson Hole) is dotted with lodges, alpine lakes, and chuckwagon dinner spots. Unsurprisingly, as one of the country’s most elite resort enclaves, Jackson Hole has more than its share of multimillion-dollar houses, condos, and townhomes.
If you want the flavor of the Old West, try Cody
- Population: 10,028 [Census]
- Cost of living: 16% lower than the U.S. average [ERI]
- Average single-family home price: $493,473 [Zillow]
- Average rent: $1,825 [Zillow]
As the crow flies, Cody doesn’t seem far from Jackson, just due northeast, but given that the mountainous terrain requires a roundabout route, it can take four hours or more to reach this town near the Montana border. It takes almost as long to drive from Cody to Yellowstone.
Founded by Old West legend Buffalo Bill Cody, the town — the county seat of Park County — has its own attractions. Surrounded by mountain ranges, Cody is picturesque, epitomizing the Old West, complete with a seasonally open ghost town called Old Trail Town, which features preserved frontier buildings from the 1890s. Peak season begins in May, and brings with it rodeos, horseback rides, and ATV tours. For chow, there’s barbeque, wood-fired, pizza, even Thai — and lots of establishments with “saloon” in their name.
Homes for Cody’s approximately 10,000 residents tend toward ranch-style, mountain-modern houses, wooden cabins, and a scattering of Victorians with gingerbread trim.
If you want a college town, try Laramie
- Population: 31,407 [Census]
- Cost of living: 8% lower than the U.S. average [RentCafe]
- Average single-family home price: $366,299 [Zillow]
- Average rent: $1,125 [Zillow]
Located around 50 miles northwest of Cheyenne, in the southern part of the state, Laramie enjoys a robust population of more than 30,000 people, owing to the fact that the city is home to the University of Wyoming. The university’s enrollment of more than 12,000 students guarantees that Laramie will remain a vibrant, stimulating place to live.
The university’s art museum is a hotbed of intellectual and cultural activity — from exhibits and art tours to lectures and galas. The school’s Geological Museum is also highly regarded. The local dining scene prides itself on its eclecticism, going beyond steakhouses and bakeries to quaint storefronts offering craft cheeses and craft chocolate, plus gastropubs and vegetarian joints.
It takes only a few minutes to drive from the campus to LaBonte Park, with its lovely pond and community garden; a fair share of the homes that come to market in Laramie are located just north of the park.
If you want to see rodeos, try Sheridan
- Population: 18,737 [Census]
- Cost of living: 11% lower than the U.S. average [ERI]
- Average single-family home price: $412,763 [Zillow]
- Average rent: $1,699 [Zillow]
Renowned for its physical beauty, Sheridan is on the cusp of the Bighorn Mountains and Bighorn National Forest. Hunting, fishing, camping, and visiting dude ranches are the quintessential pastimes in the area, but if you want to stick around town, there’s a fine sense of community between the festivals and live music on Main Street and the tennis courts and swimming pool at Kendrick Park.
With a population of just under 20,000, Sheridan may hit the sweet spot for retirees and others. And the town gets lively in the summer when the Sheridan WYO Rodeo kicks off, ushering in Old West showmanship, prize-winning stock, carnivals, Native American pageants, and athletic contests.
Related content
-
The 6 Best Places to Put Your Tax Refund for GrowthUse your 2024 tax refund to boost short-term or long-term financial goals by putting it in one of these six places.
-
See How Trump's Tariffs Impacts Your ShoppingPresident Donald Trump announced tariffs on imported goods from a litany of countries. See how these tariffs will impact your favorite clothing line.
-
Houses for Sale in Napa, California for Wine LoversThree gorgeous houses for sale in Napa, California, detailed as part of Kiplinger's "Listed" series.
-
You May Not Want to Downsize in Retirement: Here's WhyYour financial planner may urge you to downsize in retirement. Your kids may even pressure you. But be sure it's right for you before you make a move.
-
The True Cost of Owning a Second Home: What to Consider Before You Buy A Vacation HomeWhat to consider before buying a vacation home, including mortgages, insurance, taxes, and upkeep.
-
5 Gorgeous Lake Houses for Sale Around the USKiplinger's "Listed" series brings you a collection of beautiful houses for sale on lakes.
-
5 Reasons Millionaires are Renting Instead of BuyingHomeownership isn’t for everyone, even millionaires. Discover why wealthy individuals choose to rent instead of buy, from financial flexibility to investment strategies.
-
What to Expect in the Rest of This Year's Housing MarketMost likely, mortgage rates will stay above 6%, and home prices will climb moderately. But that shouldn't dissuade buyers who are ready to make a move.
-
20 Ways to Clean Up Your Finances This SpringSpring cleaning is therapeutic and stops costly problems from building up around the home. Why not tackle the dusty corners of your finances at the same time?
-
4 Homes for Sale With Basketball Courts for March MadnessSeveral recent real estate listings in the U.S. feature basketball courts fit for March Madness addicts — and alums.
