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Albany County, WY

Rent vs Own in Albany County, Wyoming

Buying the median Albany County home costs roughly $1,941/mo against a $963/mo HUD rent, ownership runs well above the rent benchmark here, so the page focuses on why the stack is so heavy. Owner-occupied homes: 8,546.

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Renting is cheaper in Albany County

Ownership works out near $1,941/mo while a comparable 2-bedroom rents for $963/mo - a wide monthly miss for buyers. That is a $978/mo difference.

Based on 20% down, 6.5% rate, 30-year mortgage. Adjust below.

What This Data Tells Us About Renting vs Owning in Albany County

Primary driver

Ownership sits far above the rent benchmark

The $333,000 median home in Albany County carries $1,925/yr in tax at 0.58%. Against HUD's $963/mo 2-bedroom rent, the ownership stack (~$1,941/mo) is a wide miss - roughly $978/mo. Here the useful question is which line item (price, tax, or insurance) dominates the overage, not whether a small assumption change closes it.

Decision signal 2

Renting compares well inside the state

Using the assumptions above, Albany County ranks 18 of 23 Wyoming counties for buy-vs-rent value (rank 1 = the best relative deal for buying). It sits ahead of 5 other Wyoming counties on this measure.

Decision signal 3

The purchase price is the larger hurdle

Median household income is $61,917, so the 5.4x home-price-to-income ratio is the binding constraint here, even before the 3.1% of income that goes to property tax. Buyers in this band usually need a larger down payment or a longer commute to a cheaper ZIP before the monthly ownership math clears.

Decision signal 4

HUD moved the rent benchmark down

HUD cut its 2-bedroom Fair Market Rent for Albany County from $990/mo in FY2025 to $963/mo in FY2026: it decreased by $27/mo (-2.7%). A falling benchmark narrows the case for buying here, and it usually reflects HUD re-estimating the local market rather than existing rents being cut.

Methodology & disclaimer

This calculator is for informational purposes only and is not tax, legal, or financial advice. Property tax figures come from the U.S. Census Bureau ACS 5-Year Estimates and rent figures come from HUD Fair Market Rents; both describe area medians, not individual transactions. Insurance is estimated at 0.35% of home value annually and closing costs, maintenance, HOA, and PMI are not included. Consult a licensed mortgage, tax, or real-estate professional before making a buy-or-rent decision based on these numbers.

Monthly Cost Breakdown

Estimated Monthly Ownership
$1,941
Mortgage (P&I) $1,684
Property Tax $160
Insurance (est.) $97
Monthly Rent (2-BR FMR)
$963
Studio$709
1-Bedroom$786
2-Bedroom$963
3-Bedroom$1,339
4-Bedroom$1,615

Adjust Your Scenario

Affordability Context

Median Household Income
$61,917
$5,160/mo
Home Price / Income
5.4x
Expensive (>5x)
Tax-to-Income Ratio
3.1%
National benchmark: 2-4%

Who actually pays it here

A $2,000 to $2,999 yearly bill greets most paid-off owners in Albany County, above what the majority of American counties charge and heavy enough that a fixed retirement income feels it directly.

Unusually for Albany County, returns above $200,000 form the single largest block claiming it, a concentration only a minority of US counties show and a marker of high property values.

When the ownership stack already sits far above HUD rent, that annual bill is less a tie-breaker and more confirmation that holding costs stay material long after the loan is gone.

Bill bands are Census ACS counts of owner-occupied homes without a mortgage. Income brackets are IRS Statistics of Income county data for tax year 2022, counted over FILERS reporting real-estate taxes on Schedule A, which is a smaller group than homeowners: most filers take the standard deduction.

Nearby Counties

Laramie County
Home: $348,700 Tax: $1,980/yr
Natrona County
Home: $273,000 Tax: $1,645/yr
Campbell County
Home: $279,100 Tax: $1,599/yr
Sweetwater County
Home: $251,400 Tax: $1,542/yr
Fremont County
Home: $268,800 Tax: $1,671/yr
Park County
Home: $400,500 Tax: $2,262/yr

Frequently Asked Questions

Is it cheaper to rent or buy in Albany County, Wyoming? ▼
Owning the median Albany County home is a wide miss versus HUD's 2-bedroom rent (about $978/mo more) on the standard stack. Treat this as a tenure/equity decision first; the cash-flow comparison alone will not favour buying here.
What is the average rent in Albany County? ▼
HUD prices a 2-bedroom unit at $963/mo here. Sizing up matters: going from a studio to a 4-bedroom adds about $906/mo, so the per-bedroom jump is worth checking against your actual space needs before assuming the 2-BR figure applies to your situation.
How much house can you afford in Albany County? ▼
On the common 3x-income guideline, a $61,917 household here can afford up to $185,751 -- about $147,249 short of this county's $333,000 median home. That gap is typically closed with a larger down payment, dual incomes, or a longer search outside the median price band.
What is the median home price in Albany County? ▼
$333,000, per the Census Bureau's ACS 5-Year Estimates. The property tax on that value works out to roughly 0.58% a year, in line with typical rates for the area.
How does Albany County compare to other Wyoming counties for renting vs buying? ▼
Out of 23 Wyoming counties ranked here on buy-vs-rent value, Albany County lands at spot 18, putting it in the more rent-favorable quarter of the state. The <a href="/states/wyoming">Wyoming state page</a> lists every peer county's tax bill beside this one.
Is rent going up or down in Albany County? ▼
HUD's 2-bedroom Fair Market Rent figure has fallen 2.7% between the FY2025 and FY2026 publications, the two most recent years tracked here.

Read our methodology - how this data is sourced, computed, and verified.

Data sourced from the U.S. Census Bureau (American Community Survey). See our methodology for details. Retrieved and formatted by PlainPropertyTax

Source: U.S. Census Bureau, Government Finances State and local property tax revenue by jurisdiction · 2025

Verify with HUD →