Total monthly cost of ownership
Cost to Own a Home in Torrington, Wyoming
A $194,000 home here costs
$1,538per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $997. The real number is $540 higher every month — 54% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Torrington against Goshen County and Wyoming
| Measure | Torrington | Goshen County |
|---|---|---|
| Median home value | $194,100 | $234,600 |
| Median property tax | $1,289 | $1,395 |
| Effective tax rate | 0.664% | 0.595% |
| Median gross rent | $816 | $759 |
| Population | 6,174 | 12,587 |
The weather behind that power bill
Torrington sits in Goshen County, which averages a high of 88.5°F in its hottest month and a low of 11.9°F in its coldest, with 14.83" of precipitation a year and 46% of it in a single three-month stretch. That climate drives 483 cooling and 7,055 heating degree days, which is what sets the $133 electricity line above.
See the full climate breakdown for Goshen County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Goshen County
No other places of this size are published in Goshen County.
Common questions
How much does it cost to own a home in Torrington?
A $194,000 home in Torrington, Wyoming costs approximately $1,538 per month with 20% down at 6.66%. That is $997 principal and interest, $107 property tax, $70 homeowners insurance, $201 utilities and $162 set aside for maintenance.
What is the property tax rate in Torrington?
Torrington has an effective property tax rate of 0.664%, based on a median home value of $194,100 and median real estate taxes of $1,289. That is higher than the Goshen County average of 0.595%.
What is the average home price in Torrington?
The median owner-occupied home value in Torrington, Wyoming is $194,100, against $234,600 across Goshen County.
Is it cheaper to rent or buy in Torrington?
Median gross rent in Torrington is $816 a month, against $1,538 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Torrington — 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.