County cost of living less than state average

According to information from the State of Wyoming, Economic Analysis Division, Wyoming experienced a 2.3 percent increase in annual (All Items) inflation from the fourth quarter of 2016 to the fourth quarter of 2017. Inflation is measured over six consumer categories in the Wyoming Cost of Living Index (WCLI). Statewide annual inflation rates by consumer category for the fourth quarter of 2017: Food (3.5%), Medical (3.2%), Transportation (2.8%), Recreation and Personal Care (2.1%), Apparel (1.9%), and Housing (1.7%). For the first time since the fourth quarter of 2013, all consumer categories experienced annual inflation.

The Wyoming Cost of Living Index (WCLI) consists of two parts, Inflation, which measures year-over-year change (annual) and the Comparative Cost of Living Index which compares each county’s cost of living in one period (not over time) to the statewide average. The inflation figures for the fourth quarter of 2017 represent the percent change in the price level of a standard basket of selected consumer items priced in the fourth quarter of 2017, compared with the price level of the same goods recorded one year ago (fourth quarter of 2016). The Comparative Cost of Living Index represents each county’s price level compared to the statewide average (100) during a single time period, in this case, the fourth quarter of 2017.

For the fourth quarter of 2017, the Comparative Cost of Living Index ranked Teton — 157 — as the county with the highest All Items value, which indicates that the cost of living in Teton County was estimated 57 percent higher than the statewide average in the quarter. The All Items value for Hot Springs County is 93, which indicates the cost of living is seven percent lower than the statewide average.

Looking at the breakdown of various categories, keeping in mind the statewide average of 100, Hot Springs County was ranked 103 for Food, 82 for Housing, 102 for Apparel, 101 for Transportation, 101 for Medical and 113 for Recreation and Personal Care.

The report also shows a comparison of average rental rates in the county from the fourth quarter 2017 and fourth quarter 2016.

In 2017, the rate for an apartment was $505; in 2016 it was $541. The rate for a mobile home lot remained the same between the two years, though the rental rate for a mobile home was $608 in 2017 and $589 in 2016. For houses, the rate in 2017 was $665 and the rate in 2016 was $654.

In the report, an apartment is defined as a two-bedroom unfurnished unit, excluding gas and electric. A mobile home lot is a single-wide, including water, and a trailer is a two- or three-bedroom, including lot rent. A house is defined as a two- or three-bedroom, single family, excluding gas and electric.