income

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By Jim Angell, Cowboy State Daily

Teton County continued to top the state for household income in 2020, according to state figures, exceeding the state average by almost 62%, according to state figures.

But the figures show Teton County residents would need that extra income to cover apartment and house rental rates almost 61% higher than the rest of the state.

Figures included in the latest version of the state Economic Analysis Division’s publication “Wyoming and County Profiles,” the “mean” or average annual income for households in Teton County was set at $132,531.

The statewide average, meanwhile, was set at $81,880, according to the report prepared by compiling various studies completed by state agencies.

The state’s average household income was above the national average of $78,500.

The figures showed that as a state, Wyoming’s household income increased by about 3.3% from 2019 figures.

Teton County was followed for household income by Sublette County at $92,755, while Niobrara had the lowest average household income at $54,980.

But the high household income in Teton County came with the highest median rental rates for homes in the state at $1,376 per month. According to the report, about 1,400 of the county’s 3,367 rental units rented had a monthly rental price of $1,500 to $2,999.

Another 821 rented for $1,000 to $1,499 and 1,120 rented for less than $1,000 a month.

The state’s median rental rate, by comparison, was $855, with more than half of the rental properties — 39,493 of 61,992 — renting for less than $1,000 per month.

The lowest median rent was found in Niobrara County at $560 per month. Of the county’s 134 rental units, 107 rented for less than $1,000 per month.

The median is a midpoint in a range of numbers.

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