Rock Springs, WY Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Rock Springs, WY Housing Market Trends

With a population of 22,653, 8,352 total housing units (homes and apartments), and a median house value of $209,192, Rock Springs real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Rock Springs, accounting for 61.29% of the city's housing units. Other types of housing that are prevalent in Rock Springs include mobile homes or trailers ( 11.83%), large apartment complexes or high rise apartments ( 11.63%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.97%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Rock Springs. Owner-occupied housing accounts for 73.23% of Rock Springs's homes, and 56.30% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Rock Springs built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Rock Springs built between 2000 and later ( 28.80%). A lesser amount of the housing stock also hails from between 1940-1969 ( 16.77%). There's also some housing in Rock Springs built before 1939 ( 14.56%).

Vacant housing appears to be an issue in Rock Springs. Fully 22.64% of the housing stock is classified as vacant. Left unchecked, vacant Rock Springs homes and apartments can be a drag on the real estate market, holding Rock Springs real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Rock Springs Home Appreciation Rates

Rock Springs's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Rock Springs during the period has been just 2.58%, which is lower than 70% of US communities.

Over the last year, Rock Springs appreciation rates have trailed the rest of the nation. In the last twelve months, Rock Springs's appreciation rate has been 6.57%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Rock Springs were at 2.77%, which equates to an annual appreciation rate of 11.55%.

Relative to Wyoming, our data show that Rock Springs's latest annual appreciation rate is lower than 70% of the other cities and towns in Wyoming.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Rock Springs differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Rock Springs - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Rock Springs real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$209,192

Rock Springs, WY HOME PRICES

> $1,149,000
1.1%
1.1%
$862,001 - $1,149,000
0.3%
0.3%
$574,001 - $862,000
1.6%
1.6%
$460,001 - $574,000
4.0%
4.0%
$344,001 - $460,000
8.7%
8.7%
$230,001 - $344,000
33.1%
33.1%
$115,001 - $230,000
28.5%
28.5%
$57,001 - $115,000
6.0%
6.0%
$0 - $57,000
16.8%
16.8%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

Low for WY

Value Relative To Nation

Number Of Homes And Apartments:
8,352

Rock Springs Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
WY*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
93.86% 3.13%
2
7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$996 / per month

Homeownership Rate

Owners
73.2%
73.2%
Renters
26.8%
26.8%
Vacant
22.6%
22.6%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
28.8%
28.8%
1970 - 1999
39.9%
39.9%
1940 - 1969
16.8%
16.8%
1939 or Older
14.6%
14.6%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
61.3%
61.3%
Townhomes
7.2%
7.2%
Small Apt. Buildings
8.0%
8.0%
Apt. Complexes
11.6%
11.6%
Mobile Homes
11.8%
11.8%
Other
0.1%
0.1%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.6%
0.6%
1 Bedroom
8.3%
8.3%
2 Bedrooms
26.6%
26.6%
3 Bedrooms
41.6%
41.6%
4 Bedrooms
14.7%
14.7%
5 or more bedrooms
8.2%
8.2%
0.0% 100.0%
% OF HOMES

Popular Communities Near Rock Springs, WY

Zip Codes in Rock Springs, WY