Cost Of Living in Torrington, WY

The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index	Torrington	Wyoming	National
Cost of living	94	98	100
Goods & Services	101	98	100
Groceries	103	102	100
Health care	103	100	100
Housing	82	101	100
Transportation	97	94	100
Utilities	87	88	100

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Cost Of Living Quick Facts

The cost of living in Torrington is 5% lower than the Wyoming average
The cost of living in Torrington is 6% lower than the national average
Torrington housing is 18% lower than the national average
Wyoming general sales tax is 22% lower than the national average
Wyoming state income tax is 100% lower than the national average

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Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$63,424	$5,285	$1,480	$1,903
Renters	$29,598	$2,467	$691	$888

The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Torrington, WY, as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Torrington homeowners, is $63,424. This would allow for a maximum of $1,480 per month to be spent on housing costs. For renters, the median monthly income is $29,598 which would result in a maximum of $691 to be spent on rental costs.

Wyoming Sales Tax

State	General Sales Tax	With Max Surtax
Wyoming	4%	6%

Wyoming Income Tax

State	Income Tax (Low)	Income Tax (High)
Wyoming	0%	0%

Goods & Services

Item	Torrington	National avg.	Difference
Haircut	$28.69	$24.26	18.3%
Beauty Salon	$33.98	$45.56	25.4%
Toothpaste	$3.63	$3.70	1.9%
Shampoo	$1.23	$1.28	3.7%
Movie	$10.98	$12.13	9.5%
Bowling	$15.17	$18.00	15.7%

Groceries

Item	Torrington	National avg.	Difference
Ground Beef	$5.98	$5.84	2.4%
Fried Chicken	$1.41	$1.57	10.6%
Milk	$4.67	$4.67	0.1%
Potatoes	$4.44	$4.93	10.0%
Pizza	$12.23	$12.09	1.2%
Beer	$10.49	$10.41	0.7%

Health Care

Item	Torrington	National avg.	Difference
Optometrist	$191.47	$125.68	52.3%
Doctor	$140.63	$135.78	3.6%
Dentist	$107.16	$113.29	5.4%
Ibuprofen	$10.59	$10.65	0.6%
Lipitor	$485.12	$468.60	3.5%

Housing

Item	Torrington	National avg.	Difference
Home Price	$160,800.00	$184,700.00	12.9%
Avg. Mortgage Payment	$2,154.34	$2,346.69	8.2%
Apartment Rent	$655.00	$949.00	31.0%

Transportation

Item	Torrington	National avg.	Difference
Gasoline	$3.32	$3.46	4.0%
Tire Balancing	$59.30	$59.92	1.0%

Utilities

Item	Torrington	National avg.	Difference
All Electricity	$154.32	$193.99	20.5%
Phone	$187.74	$192.25	2.3%

Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City	Population	Cost of Living Index	National Avg.
Veteran, WY	0	99	1.3%
Huntley, WY	0	99	1.3%
Lyman, NE	400	80	20.3%
Yoder, WY	166	85	14.5%
Henry, NE	89	86	14.3%
Torrington, WY	6,597	94	6.4%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Marion, SC	6,598	88	12.4%
Pratt, KS	6,595	85	15.0%
Desert Palms, CA	6,599	142	41.7%
Bedford, VA	6,599	92	7.8%
Atlantic, IA	6,600	88	12.5%
Torrington, WY	6,597	94	6.4%

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.

Cost of Living in Torrington, WY