From the pioneers to the present era, Wyoming continues to attract many people to America’s Western region. Considering features like its natural splendor and outdoor recreation activities, as well as its agricultural legacy and relative seclusion, it’s no wonder Wyoming remains a popular place to buy land for personal use or as an investment.
However, since Wyoming is one of the largest states by landmass, investors can’t randomly pick any plot and expect to find everything they need. There are significant differences between Wyoming counties, and the features in one zone may be different from what investors had in mind. Learn the details on different areas in Wyoming to ensure you’re purchasing the perfect land acreage for your goals.
Why Buy Land in Wyoming? Benefits of the “Equality State”
Before deciding where to buy land in Wyoming, investors must ask themselves why they want to get involved in this state. What unique value propositions set Wyoming apart from other land opportunities in the USA?
One potential draw of investing in land or property in Wyoming is its low population density. While Wyoming’s sparse population makes it one of the least industrialized in the nation, it also means there’s plenty of open space for privacy and recreation.
Outdoor enthusiasts have a ton of things to do and see throughout Wyoming, including hiking and biking trails, kayaking spots, and horseback riding. Wyoming is also a premiere destination in the hunting community, with seasons set aside for big game like elk, whitetail deer, and bighorn sheep.
Even if investors aren’t interested in outdoor activities for a personal residence, these are attractive possibilities for families or young professionals looking to relocate or vacation. Developing and owning residential properties in Wyoming gives investors access to the lucrative potential of this state’s many natural splendors.
Another popular reason land investors express an interest in Wyoming is its strong agricultural legacy. Many counties in Wyoming have soil suitable for growing cash crops like barley, wheat, and sugar beets. Plus, with Wyoming’s rich ranching history, breeding livestock is another major part of the state’s economy and culture. Depending on where investors set up their Wyoming ranch, they can reap many rewards from their farmland.
Key Factors to Consider When Buying Wyoming Land
Even if investors know exactly why they want to buy parcels in Wyoming, they need a checklist to help organize their land quest. Taking the time to consider a few key factors when examining Wyoming land helps easily narrow down an investor’s search so they only spend time analyzing areas that make the most sense.
- Topography: From rugged mountains to expansive prairies, Wyoming has a diverse geography that’s not well-suited for every investor’s goals. Check to see whether the land you’re interested in is best suited for recreational purposes, agriculture, or residential and commercial development to ensure it meets the basic criteria for your goals.
- Zoning regulations: Review the latest local zoning regulations in different counties to check if your property ideas won’t create conflicts with local authorities. Pay careful attention to any restrictions on building new properties, agricultural activities, and conservation requirements, and verify there are no potential conflicts in your plans.
- Environmental factors: Related to the last point, it’s important to review the latest ecological laws in Wyoming related to protected wildlife habitats, as well as well-known weather hazards like designated flood zones or areas with a history of issues like blizzards. Factor these restrictions and risks into your land plan for a thorough read on its full potential, including any applicable insurance fees.
- Accessibility and utilities: One of the downsides of Wyoming’s sparse population is many areas don’t have easy access to roadways, Internet connection, or essential utilities like water and electricity. If your land is remote and undeveloped, consider whether it’s feasible to add these features in your development scheme and estimate the additional infrastructure costs.
Best Places to Buy Land in Wyoming
Since each investor has unique reasons for buying Wyoming land, there’s no “best” place to invest in this state. Finding the ideal parcel in Wyoming depends on how you intend to use your land, so it’s crucial to keep your primary goal in mind when searching through the state’s vacant land lots.
That being said, there are a few areas of Wyoming that are more popular than others, each of which offers different pros and cons depending on an investor’s preferences.
Jackson Hole and Teton County
For skiing enthusiasts, Jackson Hole needs no introduction. This area in northwestern Teton County is home to some of the state’s most popular ski resorts, and it’s close by the world-famous Yellowstone National Park. Due to Jackson Hole’s reputation as a tourism hub, it’s ideal territory for investors most interested in snow-related sports or vacation home opportunities. On the flipside, properties in and around Jackson Hole tend to be higher than elsewhere in the state due to the extreme desirability of the region.
Laramie County
Moving to the southeastern corner of Wyoming, Laramie County may not be as famous as Jackson Hole, but it also boasts a well-connected infrastructure and unique opportunities for property investors. The reasons for Laramie County’s relatively greater urbanization is due to hosting the state capital of Cheyenne. As a bonus, Laramie County is close to the city of Laramie (home to the University of Wyoming).
These two factors make Laramie County a prime destination for investors most interested in residential properties for families or commercial real estate. As a bonus, Laramie County often ranks as one of the leading areas of the state for agricultural activity, making it a potential destination for farm development.
Goshen County
Just north of Laramie County is the more sparsely populated and rural Goshen County. While there aren’t as many amenities in Goshen County, this zone often ranks as one of the leading counties for agriculture and livestock, making it most attractive for investors interested in building a ranch and planting crops. Establishing a farm in Goshen County may take more effort, but investors often enjoy lower-than-average land rates compared with more tourism-focused regions.
Sheridan County
Best known as the home of the Bighorn Mountains, northern Sheridan County is an exceptional destination for investors most interested in Wyoming’s outdoor recreation activities, particularly hunting. This area of the state offers plenty of opportunities for hunters interested in big game like elk, trophy moose, and bighorn sheep during hunting seasons. Beyond hunting, Sheridan County has plenty of camping sites, horseback riding trails, and convenient amenities in its historic downtown.
Albany County
Traveling back to the southeast, Albany County is home to the city of Laramie and the University of Wyoming. Since this higher education hub dominates Albany County’s culture, it makes sense that this area is a prime destination for land investors most interested in residential properties and commercial developments.
Investors who choose Albany County get instant access to the university’s student population and staff. Plus, Albany County is well within range of many outdoor recreation opportunities like Medicine Bow National Forest and the Snowy Range Ski Area, making it a potentially attractive choice for vacation homes.
How to Get Started Purchasing Land in Wyoming — A Few Final Tips
If you’re serious about buying Wyoming land, it’s essential to clearly define your goals and financial constraints when researching available options. Often, new land buyers work with land brokers already familiar with Wyoming’s market to speed up the search for ideal land parcels and secure the optimal financing rates.
If you need help finding vacant Wyoming land, consider contacting the experts at Land Brokers MLS for personalized assistance. Our professional land brokers have years of experience helping clients locate areas in Wyoming at the right rates for their needs. Contact Land Brokers MLS today for guidance on your Wyoming land search.
Frequently Asked Questions
Is It Worth Buying Land In Wyoming?
Buying land in Wyoming can be a worthwhile investment, especially if you appreciate the state’s natural beauty and outdoor recreation opportunities. Land cost varies widely across the state, influenced by factors such as location, topography, and availability of utilities and roads.
How Much Does 1 Acre of Land Cost In Wyoming?
The cost of one acre of land in Wyoming can vary significantly depending on the location and intended use. In rural areas, you might find land for a few thousand dollars per acre, particularly if purchasing larger parcels. However, in more desirable areas or locations with higher demand, such as the Jackson Hole area, the price can exceed $1 million per acre. For more typical residential areas, prices might average around $60,000 per acre
Is Wyoming a Good State To Invest In Real Estate?
Wyoming is one of the least taxed states in the country. There are no state income taxes, real estate taxes, gift taxes, or estate taxes, which can make it financially attractive, especially for retirees.