State Comparison
Colorado vs Wyoming
Side-by-side comparison of 16 financial metrics using documented public datasets and estimates, with sources listed below.
Overall Score
Cost of Living
Housing
Taxes
Income & Employment
Business
Insurance & Living
Key Takeaways
- 1
Both states are evenly matched, each winning in 8 metrics — your decision should depend on which factors matter most to you.
- 2
Housing: Median home prices are $543,000 in Colorado vs $373,000 in Wyoming — a $170,000 difference.
- 3
Taxes: Colorado has a 4.4% top income tax rate while Wyoming has no income tax. Property tax rates are 0.5% vs 0.53%.
- 4
Cost of Living: Colorado's index is 101.8 and Wyoming's is 93.7 (national average = 100).
Run the Numbers
Use our free calculators with real Colorado and Wyoming data to model your specific scenario.
Frequently Asked Questions
Is Colorado or Wyoming more affordable?
Wyoming has a lower cost of living index (93.7) compared to Colorado (101.8), where 100 is the national average. However, affordability depends on your specific situation — compare housing, taxes, and income together for a complete picture.
Which state has lower taxes — Colorado or Wyoming?
It depends on what you earn, spend, and own — the three rates below apply to different bases (income, purchases, and home value), so they cannot be added into a single burden figure. On the headline rates alone, Wyoming is lower on more of them. Colorado has a 4.4% top income tax, 2.9% state sales tax, and a 0.5% effective property tax rate. Wyoming has no income tax, 4% state sales tax, and a 0.53% effective property tax rate.
What are housing costs in Colorado vs Wyoming?
The typical home value in Colorado is $543,000 compared to $373,000 in Wyoming (Zillow Home Value Index, June 2026). For renters, HUD's FY2026 Fair Market Rent for a 2-bedroom unit — the 40th-percentile gross rent, not an average — is $1,895/month in Colorado vs $1,079/month in Wyoming.
Which state is better for starting a business — Colorado or Wyoming?
LLC filing costs are $50 in Colorado vs $100 in Wyoming, with annual fees of $25 and $60 respectively. Colorado's 4.4% top tax rate compared to Wyoming's tax-free status may also factor into your decision.
Should I move from Colorado to Wyoming?
It depends on your priorities. Wyoming wins in 8 of 16 metrics we compared. Use our free calculators to model your specific financial scenario — including salary, property tax, and cost of living for each state.
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Related Comparisons
Comparing Colorado and Wyoming
When deciding between living in Colorado or Wyoming, the financial picture goes beyond just one metric. This comparison analyzes 16 key financial indicators drawn from the U.S. Census Bureau (American Community Survey), the Tax Foundation, HUD Fair Market Rents, Zillow's Home Value Index, the NAIC's insurance databases, the U.S. Department of Labor, C2ER's Cost of Living Index, and state agencies, to give you a comprehensive overview.
Colorado (CO) has a median household income of $97,113 with a cost of living index of 101.8. Wyoming (WY) has a median household income of $75,532 with a cost of living index of 93.7. Income figures are Census ACS 1-year estimates (table B19013, 2024); the cost-of-living index is C2ER's Q1 2026 survey via MERIC, where 100 is the national average of surveyed cities.
These numbers are estimates. Individual circumstances vary based on location within each state, family size, profession, and lifestyle. Use our free Colorado calculator or Wyoming calculator to model your specific financial scenario.
Sources per metric are named in each row's note above. Last reviewed . Some values are estimates; consult a qualified professional for financial advice.