Mortgage Calculator & Closing Costs: Rock Springs, WY
Mortgage payment estimates, closing cost breakdowns, and homebuying data for Rock Springs, Wyoming.
Median Home Price
$235K
Population
23K
Avg Monthly Rent
$950
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 Rock Springs.
Rock Springs vs Wyoming Median
The median home price in Rock Springs is $235,000, which is 31% below the Wyoming state median of $340,000.
Mortgage Calculator — Rock Springs, WY
Pre-filled with Rock Springs median home price and Wyoming tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $235K home using Wyoming's 0.61% tax rate and $1,800/yr insurance.
5% Down
$1,811/mo
Down: $11,750
Loan: $223K
P&I: $1,411
Tax: $119
Insurance: $150
PMI: $130
10% Down
$1,730/mo
Down: $23,500
Loan: $212K
P&I: $1,337
Tax: $119
Insurance: $150
PMI: $123
20% Down (No PMI)
$1,458/mo
Down: $47,000
Loan: $188K
P&I: $1,188
Tax: $119
Insurance: $150
Income needed (28% rule): $62K/year with 20% down, $74K/year with 10% down.
Rent vs Buy in Rock Springs
Rent
$950/mo
vs
Buy (10% down)
$1,730/mo
Price-to-rent ratio: 20.6 — At a ratio above 20, renting may be more economical in Rock Springs for shorter stays. Buying costs $780 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 Rock Springs is $235,000, 31% below the Wyoming state median of $340,000. With a population of 23,036, Rock Springs 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 Rock Springs 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 Rock Springs is $950/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.
Rock Springs offers strong affordability. With median prices under $250K, first-time buyers have realistic paths to homeownership, especially combined with Wyoming's WCDA Spruce Up Wyoming program.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Rock Springs.