Editor’s note: The original version of this article stated the “average sale price” and has been updated to state the “average list price.”
JACKSON, Wyo. — According to The Viehman Group’s semi-annual The Jackson Hole Report, the single-family home average list price at the end of 2022 was $7.6 million.
This is the first time the average list price has topped $5 million in Jackson Hole’s history.
This number has tripled since 2019, when the average price of a single-family home was $2.6 million. According to The Viehman Group’s report, there are currently only eight homes listed for under $2 million, while 24 homes are listed for over $7 million.
The report also highlighted how limited the new inventory of homes is. According to the Wyoming County Profile of Teton County, 95.7 percent of land in Teton County is federal land and 28.5 percent of Teton County homes sit vacant. Forty four percent of homes are renter-occupied, which is significantly higher than the state’s 29 percent.
Housing is already unaffordable for many people on a Teton County income, and less expensive options in neighboring counties are quickly disappearing. The median household income in Teton County in 2021 was $87,053, with the highest average annual wage coming from mining, quarrying and oil and gas extraction. The gender wage gap in Wyoming is one of the highest in the U.S.
Despite recent attempts to address the community need for affordable housing, the housing crisis continues to affect the workforce in Jackson Hole.