Richest Cities in Wyoming (2024)

by Kristen Carney Kristen Carney

Updated: June 20, 2024

Richest City in Wyoming

The richest city in Wyoming is Hoback in Teton County with an average household income of $234,774 as of 2022. While exceptionally affluent, Hoback only has a population of 1,874 as of 2023. The richest city in Wyoming with at least 5,000 people is Jackson in Teton County with an average household income of $138,869 as of 2022 and 10,639 people as of 2023 according to the most current Census data available (citation).

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20 Richest Cities in Wyoming

Rank City County Population Average Income Median Income
1 Hoback Teton 1,874 $234,774 $136,436
2 Lakeview North Platte 87 $227,135 $177,917
3 Moose Wilson Road Teton 1,143 $216,482 $105,673
4 Wilson Teton 1,303 $204,199 $128,981
5 Teton Village Teton 906 $199,792 $94,132
6 South Park Teton 1,899 $188,733 $109,402
7 Bessemer Bend Natrona 118 $172,198 $153,618
8 Alta Teton 581 $162,727 $161,979
9 Casper Mountain Natrona 671 $161,057 $140,556
10 Meadow Acres Natrona 107 $160,608 $147,083
11 Alpine Northeast Lincoln 303 $151,454 $185,074
12 Rafter J Ranch Teton 1,233 $144,244 $144,844
13 Bondurant Sublette 156 $141,952 -$1
14 Crowheart Fremont 174 $139,912 $138,214
15 Jackson Teton 10,639 $138,869 $101,477
16 Opal Lincoln 65 $138,842 $67,917
17 Homa Hills Natrona 202 $138,817 $121,250
18 Red Butte Natrona 758 $136,005 $177,631
19 Ranchettes Laramie 5,731 $135,746 $119,809
20 James Town Sweetwater 508 $135,148 $110,688

Median Income versus Average Income: Which Should You Use?

We usually suggest using median income data – either instead of or in addition to – average income data as a true indicator of wealth. If you haven’t thought about median versus average since your last standardized test, you aren’t alone. Here’s what they are:

  • average is the sum of a set of numbers divided by the count of numbers in the set
  • median is the middle number in the set of numbers
illustation of median vs average

Now let’s say you had the following simplified set of income data.

Household 1: $30,000
Household 2: $50,000
Household 3: $1,000,000

The average income for this set is $360,000. The outlier data point ($1,000,000) skews the average WAY up. Conversely, the average income would be skewed WAY down if someone had an income of $500. The median income for the same data set is $50,000. Outlier data doesn’t skew the median.

Most Business Owners Should Use Median Income

So most business owners should use the median income as a true indicator of wealth, because it provides a more accurate representation of a typical income, especially in areas with significant income disparity.

When Should You Use Average Income

If your target market is high-income households, the average income may be more relevant. This is because the average income can highlight the presence of a higher concentration of wealthy individuals, which is beneficial for luxury goods and services marketing. We’re using average income on this page because using the Census’s highest reported median value of $250,001 could result in multiple ties for the richest geography.

Why do so many cities have a median value of $250,001?

The Census' American Community Survey uses $250,000+ as a jam value for median income estimates to protect privacy, ensure data consistency, and simplify reporting. A "jam value" in survey data refers to a placeholder or default value used when actual data points are unavailable, incomplete, or exceed certain thresholds. We represent this jam value as $250,001 to make it easy for you to sort.

SOURCES

United States Census Bureau. Annual Estimates of the Resident Population: April 1, 2020 to July 1, 2023. U.S. Census Bureau, Population Division. Web. May 2024. http://www.census.gov/.

United States Census Bureau. B01001 SEX BY AGE, 2022 American Community Survey 5-Year Estimates. U.S. Census Bureau, American Community Survey Office. Web. 7 December 2023. http://www.census.gov/.

United States Census Bureau. B19013 Median Household Income, 2022 American Community Survey 5-Year Estimates. U.S. Census Bureau, American Community Survey Office. Web. 7 December 2023. http://www.census.gov/.

United States Census Bureau. “DP03 SELECTED ECONOMIC CHARACTERISTICS.” 2022 American Community Survey 5-Year Estimates. U.S. Census Bureau, American Community Survey Office. Web. 07 December 2023. http://www.census.gov/.

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