There are new housing starts in Rock Springs WY around $250K, but can the salaries support these prices?

Jim
Other/Just Looking
California

Answers (1)
Rebecca Hanna
Agent
82414
FIRST ANSWER

There are several small towns of Wyoming that are supporting these prices. Retirees seem to be seriously considering Wyoming due to the proximity to National parks, tax advantages (incl. low property and sales tax, no income or small business tax too) low crie rates and availability to health care. Wyoming schools have a very good reputation and receive huge funding from large energy companies. The nostalgia of the open West and roaming wildlife doesn't hurt either. Other types of buyers are those that are buying land NOW with low interest rates in hopes of retiring here much later down the road, and of course the Euro is bringing more inquiries too. Coming from the Scottsdale, Arizona market where Canadians were gathering up the desert - I see a difference here. The Europeans like the rockies - and when they can get it for 50% off due to the conversion rate - why not buy in a remote area? Here in Cody, prices have been rising steadily and construcion of homes is steady as well. There is no over-supply and rentals aren't very easy to come by either. To answer your question, I don't think the salaries support it currently, but as with any area's growth - all in due time!

Thu May 22 2008, 14:44

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