CALCMONEY // HOME AFFORDABILITY // WY // CASPER
How much house can you afford in Casper? Based on local median home prices, current WY mortgage rates, and Casper property tax data.
$295,000
$1,845/mo
$79,067/yr
$233,017
Monthly housing costs of $1,845 represent 34.1% of Casper's median gross monthly income ($5,417/mo). At 34.1%, this slightly exceeds the 28% rule. Buyers need above-median income or a 25%+ down payment to qualify comfortably.
| Median Home Price | $295,000 |
| Down Payment (20%) | $59,000 |
| Loan Amount | $236,000 |
| Monthly PI Payment | $1,562 |
| Monthly Property Tax | $160 |
| Monthly Insurance Est. | $123 |
| Total Monthly PITI | $1,845 |
| Housing Cost % of Income | 34.1% |
| Required Income (28% rule) | $79,067/yr |
| Max Affordable Home | $233,017 |
$10,325
$2,369/mo
Casper Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $295,000 | Casper city median |
| Down Payment (20%) | $59,000 | Conventional loan |
| Monthly PITI | $1,845 | 6.95% rate, 30yr fixed |
| Required Income (28% rule) | $79,067 | Annual gross |
| Max Affordable Home | $233,017 | Based on median income |
| FHA Down (3.5%) | $10,325 | Minimum FHA |
| Housing Cost % of Income | 34.1% | Median income: $65,000/yr |
| Property Tax Rate | 0.65% | $1,918/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Casper is $295,000, with a local 30-year mortgage rate of 6.95%. A buyer putting 20% down carries a loan of $236,000, generating a monthly P&I payment of $1,562. Adding property taxes ($160/mo) and homeowners insurance ($123/mo) brings total monthly PITI to $1,845.
Casper's property tax rate of 0.65% is among the lower rates in the country, which improves overall affordability by keeping total PITI closer to the principal and interest payment alone. On the Casper median home, that is $160/month, or $1,918 per year.
Wyoming has no state income tax, improving effective take-home pay for Casper residents and giving buyers additional capacity relative to equally-priced homes in high-tax states.
Using the 28% rule, a household earning Casper's median income of $65,000/year can afford up to $1,517/month in total housing costs. Based on Casper's mortgage rate of 6.95% and property tax rate of 0.65%, that translates to a maximum affordable home price of approximately $233,017 with 20% down on a 30-year loan.
To afford the median Casper home priced at $295,000, you need an annual gross income of approximately $79,067. Total monthly housing costs (principal and interest of $1,562, property taxes of $160, and insurance of $123) come to $1,845/month, which equals 28% of the required income.
At the median home price of $295,000 and median household income of $65,000, the total monthly housing cost of $1,845 represents 34.1% of gross monthly income. This slightly exceeds the standard 28% rule. Buyers will need above-median income or a larger down payment to stay within guidelines.
A conventional 20% down payment on the median Casper home of $295,000 is $59,000. An FHA loan requires just 3.5% down — $10,325 — but adds mortgage insurance of roughly $202/month, bringing total FHA payments to $2,369/month.
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