If your dream retirement involves small town living and wide open spaces, then a Wyoming retirement could be right up your alley. The places listed below are some of the top places to retire in Wyoming, and all performed fairly well in our national ranking of the best places to retire. Wyoming may lack a sprawling urban metropolis and sandy beaches. However, the state is filled with interesting history and plenty of room to spread out.
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Cody is our best place to retire in the state of Wyoming and the 74th ranked place to retire in the country. The town of roughly, 9,800 people is located close to Yellowstone National Park in the Northwest corner of the state. Its place atop this list is most likely due to its low tax burden of 12.8% and its senior percentage of 19.5%, higher than any other city on the list. It also boasts 3.9 medical centers per 1,000 residents, good for third-highest. Finally, it has 3.39 recreation centers per 1,000 residents, the second-highest mark on this list.
The second-highest ranked town in the state is the town of Lander. A small town in central Wyoming, Lander had roughly 7,600 people, according to the most recent census. While its tax burden of 13.7% is in the middle of the road among the communities listed here, Lander has the most retirement communities per 1,000 residents of any town listed here. It also has 5.41 medical centers per 1,000 residents, which is the second-highest figure we’ll see on the list. Like many towns in Wyoming, Lander is home to several museums that highlight the history of Western pioneers.
Powell, Wyoming is one of the smallest towns we’ll see on this list, with only 6,400 residents as of the most recent census. Its 12.8% tax burden is the lowest of any town in the top 10, tied with No. 1 Cody. Powell is consistently high in the rest of the categories we measured as well. The town is 17.3% seniors, and it has an impressive number of recreation centers for its size, with 0.94 per 1,000 residents.
Jackson is the second Yellowstone-adjacent city to arrive on our list. Roughly the same size as Cody, its population was around 10,500 at the last census. Jackson has the highest number of medical centers per 1,000 residents at 6.6 and the highest number of recreation centers per 1,000 at 6.21. You’d think those kind of metrics would push it higher up the list. However, Jackson struggles in a couple of other categories, leading to its position in fourth place. The town has no retirement communities at all, and its senior percentage is only 6.0%, the lowest figure among these 10 cities.
Worland, Wyoming is located in the north-central region of the state. Its population at the most recent census was around 5,500, making it the smallest town in our top 10. Its fifth place standing makes sense, as it ranks in the middle of the road for most metrics we measured. A 13.7% tax burden is about average among the towns listed, as is Worland’s 1.11 recreation centers per 1,000 residents and its 17.5% senior percentage. Its 1.85 medical centers per 1,000 residents is low, the only category in which it suffers.
Casper is the second largest city in Wyoming behind Cheyenne. With roughly 59,000 people, it’s the largest city on this list. Its retirement communities per 1,000 residents is on the lower end at 0.10. However, that’s a bit misleading since Casper is so much bigger than the other nine towns on this list. Despite its low ranking, the city actually has the most retirement communities among these cities, and Casper isn’t so big that these communities will be overly crowded. Casper has a senior percentage of 12.7%, which is on the lower end of this spectrum. It’s decidedly in the middle on most of the other categories.
The seventh-highest ranked town in Wyoming is the centrally-located town of Riverton. Home to roughly 10,000 people, Riverton is the second of three cities on this list with no retirement communities. It makes up for this deficiency with a high number of recreation centers per 1,000 residents (1.01) and a decent number of medical centers per 1,000 residents (2.20). Its senior percentage of 16.3% is on the lower end, but only slightly. Riverton is also home to a regional airport that offers flights to Denver. This makes it easy to get away for a few days.
Located on the northern edge of the state is Sheridan, just a 30-minute drive from Montana. With a population of around 17,400, Sheridan is the second-largest town on this list, and it also offers flights to Denver out of its small airport. With a tax burden of 14.6%, Sheridan ties with Jackson for the highest mark. It makes up for that, however, with a senior percentage of 18% and 2.59 medical centers per 1,000 residents, both of which are just slightly on the higher end of the spectrum. Sheridan is also conveniently just off of Interstate 90. This makes for an easy drive to larger cities like Casper or Billings, Montana.
Torrington, Wyoming is a town of about 6,500 people in the southeast corner of the state. It’s about 85 miles from the state capital of Cheyenne. The town has the second-highest senior percentage among these towns at 19.3%, but its other statistics place it firmly on the lower end. Torrington’s 0.74 medical centers per 1,000 residents is the lowest figure of any town listed. Its 0.45 recreation centers per 1,000 is also the second-lowest. It’s also the third town on this list to have zero retirement communities.
Located in the very southwestern tip of the state, Evanston is much closer to Salt Lake City, Utah than it is to any major Wyoming city. The town had a population of about 12,300 at the last census. That makes it one of the larger towns on this list, but not by much. Evanston has the lowest number of recreation centers per 1,000 residents on this list at 0.41. Further, its senior percentage of 10.8% is the second-lowest of any on this list. Luckily, Interstate 80 runs right through the middle of the town. This means it’s easy for you to drive about 90 minutes to Salt Lake City if you need anything that a bigger city can offer.
How We Determined the Best Places to Retire in Wyoming
To determine the best places to retire in Wyoming, we examined a few different factors. First, we looked at the tax burden, determining how much of your retirement savings would have to go to taxes every year. Access to quality medical care becomes even more important in retirement, so we also considered the number of medical centers per 1,000 residents in each location. We examined the number of recreation centers and retirement communities as well. This is because many seniors look to find a community of fellow retirees when moving to a new home. Finally, we looked at the percentage of senior citizens in each community. We combined all those factors and came up with an index to rank the cities both nationally and in each state.
No matter where you plan to retire, make sure you spend ample time planning your finances. The last thing you want is for your money to run out too early in retirement, regardless of if Wyoming has a fairly low cost of living. Be sure to account for all of your debts and assets, including retirement accounts, brokerage accounts, annuities, life insurance policies and more.
Tips for Saving for Retirement
- Whether you’re planning to retire in four years or four decades, talking to a financial advisor can help you solidify your plan.Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
- Wyoming is a great state for retirement, especially if you’re looking to pull off an early retirement. There is also no estate tax. However, life in Wyoming can be a bit jarring. This is especially so if you spent your working years on the East Coast or in the South. Here are 15 things to know before moving to Wyoming.
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Hunter Kuffel, CEPF® Hunter Kuffel is a personal finance writer with expertise in savings, retirement and investing. Hunter is a Certified Educator in Personal Finance® (CEPF®) and a member of the Society for Advancing Business Editing and Writing. He graduated from the University of Notre Dame and currently lives in New York City.
What is the number 1 retirement state? ›
According to Bankrate's study, Florida is the best state for retirement in 2022, followed by Georgia, Michigan, Ohio and Missouri. Alaska, on the other hand, held last place in our ranking. The state was dragged down by back-of-the-pack scores in affordability and weather.What is a good monthly retirement income? ›
A good retirement income is about 80% of your pre-retirement income before leaving the workforce. For example, if your pre-retirement income is $5,000 you should aim to have a $4,000 retirement income.What part of Wyoming has the best climate? ›
The warmest parts of the state are the lower portions of the Bighorn Basin, the lower elevations of the central and northeast, and along the eastern border. The highest recorded temperature is 116°F on July 12, 1900 at Bitter Creek in Sweetwater County. The average maximum temperature at Basin in July is 92°F.Where is the happiest place to retire? ›
|Overall Rank||City||Total Score|
The Best Cities To Retire on $2,000 a Month
- North Royalton, Ohio. ...
- San Angelo, Texas. ...
- Longview, Texas. ...
- Florissant, Missouri. ...
- Des Moines, Iowa. ...
- Parma Heights, Ohio. ...
- Baytown, Texas.
1. Delaware. Congratulations, Delaware – you're the most tax-friendly state for retirees! With no sales tax, low property taxes, and no death taxes, it's easy to see why Delaware is a tax haven for retirees.What is the safest place to live in Wyoming? ›
According to data from the Federal Reserve, the average amount of retirement savings for 65- to 74-year-olds is just north of $426,000.What is a normal amount of money to retire with? ›
The 80% rule: Some experts will cite the "80 percent rule" of retirement planning, which states that you should plan to live on 80 percent of your pre-retirement income to maintain a similar lifestyle. So if you earn $100,000 per year, you should aim for a retirement income in the range of $80,000 per year.How much does the average person retire with money? ›
On average, Americans have around $141,542 saved up for retirement, according to the “How America Saves 2022” report compiled by Vanguard, an investment firm that represents more than 30 million investors.
Why are people moving out of Wyoming? ›
Movers are choosing to embrace the small city lifestyle with lower costs and more wide open space. Post-pandemic "more remote workers and retirees are choosing their next destination based on lifestyle, taxes, and cost of living, not proximity to a subway" the study said.Is Wyoming a friendly state for retirees? ›
Wyoming. Retirement Income: Wyoming is very taxpayer-friendly when it comes your retirement income—no taxes on payments from 401(k) plans, IRAs or pensions.What problems does Wyoming have? ›
Rural subdivision and development, energy development, invasive species, climate change, and disruption of historic disturbance regimes are five important conservation issues that extend across a majority of Wyoming's habitat types and wildlife species.Do seniors pay property tax in Wyoming? ›
Exemptions. (a) The following property is exempt from property taxation: (xlii) Property of residents sixty‑five (65) years of age or older, to the extent provided by W.S. 39‑13‑105(m).Are winters harsh in Wyoming? ›
Weather: Winters in Wyoming are usually long and cold. January is usually the coldest month of the year. At this time, the minimum temperatures are between 5 and 10 degrees. There are some mild periods when it gets up to the 50s.What is the best state to retire in 2022? ›
The top two states to retire in according to our formula are — drumroll please — Alaska and New Hampshire! Special mentions go to Delaware, Virginia, and Washington, which were all in the top 20 on both lists.Where is the safest and cheapest place to retire? ›
- Malaysia. ...
- Spain. ...
- Costa Rica. ...
- Panama. Cost of Living Index: 48.25. ...
- Peru. Cost of Living Index: 30.74. ...
- Slovenia. Cost of Living Index: 47.30. ...
- Austria. Cost of Living Index: 64.11. ...
- Australia. Cost of Living Index: 72.27.
Here are the seven most affordable states to retire, according to Bankrate:
More often than not, retirees will find the most affordable and sunniest retirement destinations in the southernmost state of the continental U.S. — Florida.Where can I retire comfortably on $150 K? ›
- Chile. Jose Luis Stephens / Shutterstock. ...
- Ireland. Frank Bach / Shutterstock. ...
- Ecuador. Ecuadorpostales / Shutterstock. ...
- Vietnam. Richie Chan / Shutterstock. ...
- Belize. Matyas Rehak / Shutterstock. ...
- Bolivia. Olga Kot Photo / Shutterstock. ...
- Czech Republic. DaLiu / Shutterstock. ...
Where can I retire on 1000 a month in the US? ›
- El Paso, Texas | John Moore/Getty Images.
- Pasadena, Texas, is a suburb of Houston. ...
- Des Moines is the largest city in Iowa. ...
- Oklahoma's capital is affordable for retirees. ...
- Your dollar can go a long way in Columbus, Georgia.
Key Takeaways. Florida, South Carolina, and Arizona are the top three states people are retiring to. New Jersey had the greatest percentage of outbound moves last year at almost 71%. The Mountain West area is one of the most popular regions for retirees.What is the #1 best state to live in? ›
The personal finance website has come up with a ranked list of the top 20 best states to live in for 2022. Here are the results! The top state is Massachusetts, which ranked first in the nation for education and health, fourth for safety, sixth for quality of life, and 10th for its economy.What states do not tax retirees? ›
States That Don't Tax Retirement Income
Those eight – Alaska, Florida, Nevada, South Dakota, Tennessee, Texas, Washington and Wyoming – don't tax wages, salaries, dividends, interest or any sort of income.
Teton County has highest concentration of wealth per household than any other county in the nation | Wyoming Public Media.Where is the most affordable place to live in Wyoming? ›
1. Evanston. Evanston, the most affordable city in Wyoming, rises about 6,700 feet above sea level and is bathed in sunshine 300 days a year. This small town is surrounded by mountains and offers opportunities for camping, mountain biking, kayaking, fishing, and more.What is the coldest city in Wyoming? ›
The coldest town in Wyoming is Bondurant, which is located in Hoback Canyon between Jackson and Pinedale. The average temperature in Bondurant for the months of December, January and February is 10.7 degrees.Is moving to Wyoming a good idea? ›
Is it worth moving to Wyoming? Wyoming offers affordable home prices, no state income tax, clean air, and a wealth of outdoor recreational opportunities. So yes, if you're planning to move there, then you simply shouldn't hesitate.Where do celebs live in Wyoming? ›
It's no secret that a lot of celebrities either have a home in Jackson Hole, or visit often! Kanye West, Kim Kardashian, Harrison Ford, Sandra Bullock, Brad Pitt, Pippa Middleton, Tiger Woods, Uma Thurman, Matthew McConaughey have all spent time here.What part of Wyoming has the lowest crime rate? ›
1. Kemmerer. The top safest city in Wyoming is Kemmerer, also known as 'The Gateway to the West. ' This community is an astounding 73% below the national crime rate, which helps stress levels remain low.
What is the most common crime in Wyoming? ›
Despite low concern, Wyoming uses more security measures than most other states. Wyoming's property crime rate is 16% lower than the national average of 19.6. Larceny-theft is the most prevalent property crime, accounting for 77% of all crime statewide.How much money do you need to live in Wyoming? ›
Average Cost of Living in Wyoming: $42,016 per year
It also ranks among the top 20 most affordable states in the nation, according to MERIC data collected in late 2021.
About 35% have no retirement savings, compared to 60% of those who never married and 40% of those who married more than once (Figure 2).What is a good net worth at 70? ›
|Age of Householder||Median Net Worth|
|45 to 54 years old:||$125,400|
|55 to 64 years old:||$194,800|
|65 to 69 years old:||$236,900|
|70 to 74 years old:||$302,300|
But how many people have $1,000,000 in savings for retirement? Well, according to a report by United Income, one out of six retirees have $1 million.What is the average Social Security check? ›
For those who are collecting Social Security at age 65, the average payment in 2022 is about $2,484 a month, according to the Social Security Administration. That's based on the agency's estimate that the average annual benefit is $29,806 for Social Security recipients who are age 65.How much does the average 75 year old have in savings? ›
|Age||Median Balance of Accounts||Mean Balance of Accounts|
|45 to 54||$5,620||$48,200|
|55 to 64||$6,400||$55,320|
|65 to 74||$8,000||$57,670|
|75 and older||$9,300||$60,410|
- Boise, Idaho. ...
- Virginia Beach, Virginia. ...
- Reno, Nevada. ...
- Las Vegas, Nevada. ...
- Mesa, Arizona. ...
- Phoenix, Arizona. ...
- Jacksonville, Florida. ...
- Forth Worth, Texas.
The average retired person spends $4,074 a month. This is based on the average annual expenditure of persons aged 65-74 in the United States of $48,885.
Is Wyoming a good state for retirees? ›
Wyoming is a good place to retire based on the weather, cost of living, and taxes. It does not impose state income taxes on retirement income such as 401(k) withdrawals and social security. The state has four distinct seasons, good weather in the summer, low crime rate, and good transport network.What city in Wyoming has the best weather year round? ›
226 miles northeast of Kemmerer lies the warmest town in Wyoming, Thermopolis. Named after the Greek word for "hot city", the city is home to the largest mineral hot spring in the world and boasts an average year-round high temperature of 66.Is Wyoming good for seniors? ›
Wyoming has low income and property taxes
Taxes don't stop in retirement — some states require residents to pay taxes even on their Social Security income or retirement income. Wyoming won't require that, and it has to do with the state's history with mining taxes.
Wyoming does not have its own income tax, which means the state will not tax any form of retirement income. This includes Social Security retirement benefits. Property taxes and sales taxes in Wyoming are also among the lowest in the country.Do seniors pay property taxes in Wyoming? ›
Exemptions. (a) The following property is exempt from property taxation: (xlii) Property of residents sixty‑five (65) years of age or older, to the extent provided by W.S. 39‑13‑105(m).Which state is better for retirement Wyoming or Montana? ›
According to the study, the region surrounding Wyoming is a good place to retire to in general. The study ranked South Dakota 3rd, Colorado 5th, Idaho 6th, and Montana 8th.What is not taxed in Wyoming? ›
Wyoming does not have an individual income tax. Wyoming also does not have a corporate income tax. Wyoming has a 4.00 percent state sales tax, a max local sales tax rate of 2.00 percent, and an average combined state and local sales tax rate of 5.22 percent.What is the least windy place in Wyoming? ›
Worland, Wyoming, is widely considered to be the least windy place in the state. Located in the Big Horn Basin, Worland is naturally sheltered from the strong winds that batter other parts of Wyoming. While Cheyenne, Laramie and Casper have average wind speeds above 12 miles per hour, Worland is calm by comparison.What is the coldest Wyoming gets? ›
The record low for the State is -66° F observed February 9, 1933, at Yellowstone Park. During warm spells in the winter, nighttime temperatures frequently remain above freezing.What is the cheapest state for seniors to live in? ›
Here are the seven most affordable states to retire, according to Bankrate:
Which state is best for elderly? ›
Wyoming is one of the most tax-friendly states for retirees while also being one of the largest states and the least populated. Wyoming also offers a little less hustle and bustle for anyone who wants a quieter life following retirement.