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Cost of homeownership in Albany County, Wyoming

Real dollar cost of ownership, rent-vs-buy analysis, and flood risk, backed by Census ACS, FEMA, and FHFA data. Population: 37,525.

Median home value
$291,500
Median property tax
$1,719
Monthly owner cost
$1,747
with mortgage
Affordability (cost % of income)
17.0%

Total annual ownership cost

Breakdown of what owning a typical home in Albany County costs each year.

  • Property taxes$1,719
  • Insurance estimate$1,500
  • Utilities / energy$1,445
  • Maintenance (1% of value)$2,915
  • Total$7,579/yr · $632/mo

Insurance and energy figures typically vary by property. Adjust in the calculators for a personalized estimate.

Total
$7,579
/ year

Rent vs. buy in Albany County

Pre-filled with local median home value, median gross rent (Census ACS / HUD FMR), and current FRED rate.

Flood risk

Historical signal from FEMA National Flood Insurance Program.

LOW RISK
Total claims
3
Avg claim
-
Active policies
10
Avg premium
$960
NFIP policy

Risk bucket is normalized as historical claims per 1,000 housing units, not raw count, so dense urban counties aren't penalized for size alone. Buckets: low (<1), moderate (1–10), high (10–50), very-high (50+). Albany County: 0.18 per 1,000. Historical claims do not capture uninsured properties. For parcel-level flood-zone designations, use FEMA's Map Service Center.

Full flood-risk breakdown →

Home price trend in Wyoming

FHFA House Price Index, quarterly.

vs. Wyoming average
Home value below state average.
Property tax above state average.
Homeownership
50.6%

Share of units owner-occupied (Census ACS).

Median household income
$55,887

Census ACS 5-year estimate.

Housing cost burden in Albany County

Share of households paying 30% or more of income on housing (HUD CHAS 2017-2021). HUD does not publish county-level CHAS rollups through the public API, so Wyoming state data is shown for local context alongside the US average.

Wyoming: 30%+ cost burdened
31.5%
165,360 households surveyed
Wyoming: severely burdened (50%+)
13.6%
Paying at least half of income on housing.
Owner vs renter burden
Owner 30%+: 30.3%
Renter 30%+: 21.6%
Renters typically carry a heavier cost burden than owners with a fixed-rate mortgage.

Affordability by income bracket

Monthly 30% housing budget at each income vs the median owner cost in Albany County. Bars above the dashed line can absorb this county's typical ownership cost.

HUD area median income (4-person household) for Wyoming: $98,800. Income limits define 80% AMI at $79,450 and 50% AMI at $49,650.

Frequently asked questions

How much does it cost to own a home in Albany County?

Based on Census ACS, typical total annual cost in Albany County is around $7,579 ($632 per month), covering property tax, insurance estimate, utilities, and 1% maintenance. Your actual cost varies by home age, size, and location within the county.

What is the property tax in Albany County?

Median annual property tax is $1,719 on the county's median home value of $291,500 (Census ACS).

Is it cheaper to rent or buy in Albany County?

On a monthly cash-flow basis, the typical owner-cost-with-mortgage in Albany County runs about 88% above the county's median rent. That comparison doesn't account for the opportunity cost on your down payment, maintenance reserve, transaction costs, or how long you plan to stay — use the calculator below to model your specific break-even year against your time horizon.

What is the flood risk in Albany County?

low historical flood-risk signal from FEMA NFIP: 3 claims (0.18 per 1,000 housing units), average claim pending. Bucket reflects claim density, not absolute claim count.

Data sources

Disclaimer. HomeRule is not a real estate agent, lender, appraiser, or financial advisor. This content is for educational and informational purposes only. Actual costs vary significantly by property, location, and individual circumstances. Consult qualified professionals for personalized advice.