Average Salary in Wyoming (WY)

Wyoming is the least-populated state in the US and has no state income tax — a combination that has made the state unusually attractive for high-net-worth residency relocation over the past decade. The $72,495 median household income is near the national average, and the cost-of-living index of 95 puts effective purchasing power slightly above baseline. The economy is dominated by the energy sector in ways no other state matches: Wyoming is the largest coal-producing state in the country (Powder River Basin mines produce nearly half of all US coal), and the state is also a major producer of natural gas, uranium (Wyoming has the largest US uranium reserves), and trona. That energy-tax base funds most of state government and part of the reason income tax has never been introduced. Tourism anchored by Yellowstone and Grand Teton is significant in the northwestern counties. The $7.25/hour minimum wage is technically subordinate to the federal rate (the state minimum is still $5.15 on the books), but the federal rate applies to virtually all employers. Property taxes are among the lowest in the country. Wyoming also has unusually favourable LLC and trust laws, which contributes meaningfully to the state's high-asset residency profile. Full breakdown follows.