Total monthly cost of ownership
Cost to Own a Home in Mills, Wyoming
A $167,000 home here costs
$1,403per month, all in, with 20% down at today's 7.40% 30-year fixed rate. By the 28% rule that takes a household income of about $60,000 a year.
A standard mortgage calculator would have told you $925. The real number is $478 higher every month, 52% more than the payment most buyers budget for.
Compare Natrona County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Mills from a five-year rolling sample, and with about 4,315 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Natrona County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Mills against Natrona County and Wyoming
| Measure | Mills | Natrona County |
|---|---|---|
| Median home value | $166,800 | $260,400 |
| Median property tax | $1,036 | $1,608 |
| Effective tax rate | 0.621% | 0.618% |
| Median gross rent | $1,047 | $973 |
| Population | 4,315 | 79,735 |
The weather behind that power bill
Mills sits in Natrona County, which averages a high of 89.0°F in its hottest month and a low of 14.8°F in its coldest, with 12.22" of precipitation a year and 41% of it in a single three-month stretch. That climate drives 443 cooling and 7,485 heating degree days, which is what sets the $124 electricity line above.
See the full climate breakdown for Natrona County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Natrona County
Full Natrona County cost breakdown · Every county in Wyoming
Talk to someone who works this market
These are Mills averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Mills every week. Free, no obligation, and we never sell your details to a list.
Common questions
How much does it cost to own a home in Mills?
A $167,000 home in Mills, Wyoming costs approximately $1,403 per month with 20% down at 7.4%. That is $925 principal and interest, $86 property tax, $61 homeowners insurance, $192 utilities and $139 set aside for maintenance.
What is the property tax rate in Mills?
Mills has an effective property tax rate of 0.621%, based on a median home value of $166,800 and median real estate taxes of $1,036. That is in line with the Natrona County average of 0.618%.
What is the average home price in Mills?
The median owner-occupied home value in Mills, Wyoming is $166,800, against $260,400 across Natrona County.
Is it cheaper to rent or buy in Mills?
Median gross rent in Mills is $1,047 a month, against $1,403 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Mills?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Mills, Wyoming at today's rate takes a household income of roughly $60,000 a year. That covers the full $1,403 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Mills, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for Wyoming.
- Electricity price, EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate, Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.