The typical owner-occupied home in Medicine Bow is worth about $74,600, 76% below the Wyoming median of $309,700 and 78% below the national median of $332,700. Owners pay a median $1,060 a year in property taxes, about 1.42% of their home's value, higher than the Wyoming rate of 0.57%. The median household earns $72,500 a year, so the median home costs 1.0 times the median income (4.1 times for Wyoming). 69% of occupied homes here are lived in by their owners, and 48% of those owners still have a mortgage.
Medicine Bow at a glance
| Medicine Bow | Wyoming | U.S. | |
|---|---|---|---|
| Median home value | $74,600 | $309,700 | $332,700 |
| Median property tax paid per year | $1,060 | $1,767 | $3,119 |
| Property tax as a share of value | 1.42% | 0.57% | 0.94% |
| Median household income | $72,500 | $76,176 | $80,734 |
| Homes lived in by their owners | 69% | 72% | 65% |
| Owner homes with a mortgage | 48% | 56% | 61% |
| Median monthly costs, owners with a mortgage | $1,000 | $1,754 | $1,963 |
| Those costs as a share of the owners' income | 9.0% | 21.0% | 21.0% |
| Median rent | $529 | $992 | $1,413 |
| Rent as a share of renters' income | 23.8% | 27.0% | 30.6% |
| Median year homes were built | 1972 | 1981 | 1980 |
| Vacant homes | 16.5% | 12.2% | 10.1% |
| Population | 442 | 582,397 | 334,922,499 |
What a typical home costs per month in Medicine Bow
At this week's average 30-year rate of 7.11%, buying the median Medicine Bow home of $74,600 with 20% down costs about $521 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $645, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $22,321 for the 20%-down payment. That payment is 9% of the median Medicine Bow household income of $72,500; at that income and 20% down, the 28% guideline points to a home of about $242,000.
The median rent here is $529 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $14,920 |
|---|---|
| Loan amount | $59,680 |
| Principal and interest | $401 |
| Property taxes (1.42% a year) | $88 |
| Homeowners insurance (our estimate, 0.5% a year) | $31 |
| PMI | $0 |
| Total per month | $521 |
Change the numbers in the calculator
| Down payment | $2,611 |
|---|---|
| Loan amount | $73,249 |
| Principal and interest | $493 |
| Property taxes (1.42% a year) | $88 |
| Homeowners insurance (our estimate, 0.5% a year) | $31 |
| FHA mortgage insurance | $33 |
| Total per month | $645 |
Change the numbers in the calculator
Questions about home buying in Medicine Bow
What is the median home value in Medicine Bow?
About $74,600 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Medicine Bow?
Homeowners pay a median $1,060 a year, which is about 1.42% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Medicine Bow?
For the median home with 20% down at 7.11%, the payment is about $521 a month. Keeping that under 28% of gross income takes about $22,321 a year.
More about Medicine Bow
- Mortgage Refinance in Medicine Bow
- Debt Relief in Medicine Bow
- Home Equity Loans in Medicine Bow
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data