Total monthly cost of ownership
Cost to Own a Home in Thermopolis, Wyoming
A $202,000 home here costs
$1,634per 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 $70,000 a year.
A standard mortgage calculator would have told you $1,101. The real number is $532 higher every month, 48% more than the payment most buyers budget for.
Compare Hot Springs County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Thermopolis from a five-year rolling sample, and with about 2,716 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 Hot Springs 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.
Thermopolis against Hot Springs County and Wyoming
| Measure | Thermopolis | Hot Springs County |
|---|---|---|
| Median home value | $201,600 | $214,400 |
| Median property tax | $1,177 | $1,202 |
| Effective tax rate | 0.584% | 0.561% |
| Median gross rent | $892 | $976 |
| Population | 2,716 | 4,618 |
The weather behind that power bill
Thermopolis sits in Hot Springs County, which averages a high of 91.8°F in its hottest month and a low of 11.5°F in its coldest, with 11.95" of precipitation a year and 46% of it in a single three-month stretch. That climate drives 737 cooling and 6,690 heating degree days, which is what sets the $125 electricity line above.
See the full climate breakdown for Hot Springs County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Hot Springs County
No other places of this size are published in Hot Springs County.
Full Hot Springs County cost breakdown · Every county in Wyoming
Talk to someone who works this market
These are Thermopolis 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 Thermopolis every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Thermopolis I already own here and may sell
Common questions
How much does it cost to own a home in Thermopolis?
A $202,000 home in Thermopolis, Wyoming costs approximately $1,634 per month with 20% down at 7.24%. That is $1,101 principal and interest, $98 property tax, $73 homeowners insurance, $193 utilities and $168 set aside for maintenance.
What is the property tax rate in Thermopolis?
Thermopolis has an effective property tax rate of 0.584%, based on a median home value of $201,600 and median real estate taxes of $1,177. That is higher than the Hot Springs County average of 0.561%.
What is the average home price in Thermopolis?
The median owner-occupied home value in Thermopolis, Wyoming is $201,600, against $214,400 across Hot Springs County.
Is it cheaper to rent or buy in Thermopolis?
Median gross rent in Thermopolis is $892 a month, against $1,634 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 Thermopolis?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Thermopolis, Wyoming at today's rate takes a household income of roughly $70,000 a year. That covers the full $1,634 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Thermopolis, 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.