Mortgage payment estimates, closing cost breakdowns, and homebuying data for Gillette, Wyoming.
Median Home Price
$265K
Population
33K
Avg Monthly Rent
$1,050
Property Tax Rate
0.61% *
* Property tax shown is the Wyoming state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Gillette.
Gillette vs Wyoming Median
The median home price in Gillette is $265,000, which is 22% below the Wyoming state median of $340,000.
Mortgage Calculator — Gillette, WY
Pre-filled with Gillette median home price and Wyoming tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $265K home using Wyoming's 0.61% tax rate and $1,800/yr insurance.
5% Down
$2,023/mo
Down: $13,250
Loan: $252K
P&I: $1,591
Tax: $135
Insurance: $150
PMI: $147
10% Down
$1,931/mo
Down: $26,500
Loan: $239K
P&I: $1,507
Tax: $135
Insurance: $150
PMI: $139
20% Down (No PMI)
$1,625/mo
Down: $53,000
Loan: $212K
P&I: $1,340
Tax: $135
Insurance: $150
Income needed (28% rule): $70K/year with 20% down, $83K/year with 10% down.
Rent vs Buy in Gillette
Rent
$1,050/mo
vs
Buy (10% down)
$1,931/mo
Price-to-rent ratio: 21.0 — At a ratio above 20, renting may be more economical in Gillette for shorter stays. Buying costs $881 more per month than renting, and it typically takes 5-7 years to break even on the transaction costs of buying.
The median home price in Gillette is $265,000, 22% below the Wyoming state median of $340,000. With a population of 33,403, Gillette is a smaller market where home prices tend to be more accessible than in many parts of Wyoming.
Property taxes in Wyoming average 0.61% annually. This low property tax rate is a significant advantage for Gillette buyers, keeping your monthly costs well below what you'd pay in higher-tax states. Homeowners insurance in Wyoming runs approximately $1,800 per year. This is within the normal range nationally.
Average rent in Gillette is $1,050/month. With a price-to-rent ratio above 20, renting could be more economical in the short term — use our Rent vs Buy calculator to model your specific timeline.
Gillette presents moderate affordability. The $265K median puts homeownership within reach for median-income households, though down payment savings and closing costs require planning.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Gillette.