Total monthly cost of ownership
Cost to Own a Home in Ranchester, Wyoming
A $296,000 home here costs
$2,326per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $99,500 a year.
A standard mortgage calculator would have told you $1,614. The real number is $712 higher every month, 44% more than the payment most buyers budget for.
Compare Sheridan County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Ranchester from a five-year rolling sample, and with about 1,069 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 Sheridan 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.
Ranchester against Sheridan County and Wyoming
| Measure | Ranchester | Sheridan County |
|---|---|---|
| Median home value | $295,900 | $352,200 |
| Median property tax | $1,985 | $1,951 |
| Effective tax rate | 0.671% | 0.554% |
| Median gross rent | $765 | $950 |
| Population | 1,069 | 31,585 |
The weather behind that power bill
Ranchester sits in Sheridan County, which averages a high of 87.8°F in its hottest month and a low of 11.7°F in its coldest, with 14.93" of precipitation a year and 44% of it in a single three-month stretch. That climate drives 441 cooling and 7,542 heating degree days, which is what sets the $125 electricity line above.
See the full climate breakdown for Sheridan County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Sheridan County
Full Sheridan County cost breakdown · Every county in Wyoming
Talk to someone who works this market
These are Ranchester 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 Ranchester every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Ranchester I already own here and may sell
Common questions
How much does it cost to own a home in Ranchester?
A $296,000 home in Ranchester, Wyoming costs approximately $2,326 per month with 20% down at 7.24%. That is $1,614 principal and interest, $166 property tax, $107 homeowners insurance, $193 utilities and $247 set aside for maintenance.
What is the property tax rate in Ranchester?
Ranchester has an effective property tax rate of 0.671%, based on a median home value of $295,900 and median real estate taxes of $1,985. That is higher than the Sheridan County average of 0.554%.
What is the average home price in Ranchester?
The median owner-occupied home value in Ranchester, Wyoming is $295,900, against $352,200 across Sheridan County.
Is it cheaper to rent or buy in Ranchester?
Median gross rent in Ranchester is $765 a month, against $2,326 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 Ranchester?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Ranchester, Wyoming at today's rate takes a household income of roughly $99,500 a year. That covers the full $2,326 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Ranchester, 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.