According to a new study, Wyoming is one of only nine states where renting a house is more affordable than buying a home. compared real estate and rental markets in every state. Here in Wyoming, the median home mortgage is $1,200 per month while the average rent for a similar house is $1,025. They project that Wyoming renters save $2,100 annually; $63,000 over the life of a standard 30-year-mortgage.

Nationwide, homeowners save an average of $186 per month compared to renting. Wyoming is one of several states in the Mountain West region where renting a home is cheaper than buying. Colorado, Idaho, Montana, Oregon, and Utah joined Wyoming, Hawaii, New Hampshire, and the District of Columbia as the only states where the average rental is lower than the median mortgage.

New York has the highest discrepancy in the country. In the Empire State, owning a home is $1,471 per month cheaper than renting.


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