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Colorful Western Haven Draws Retirees
Seeking Conservative Values, Fresh Air and Spectacular Scenery
Real Estate | Overview
Cost of Living: Meets the National Average
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Cody real estate comes in all shapes and
sizes; much of the real estate in town is ranch-style,
frame houses, although there are also some higher-end
neighborhoods with brick homes on larger lots.
Many of the more expensive homes are on acreage on the
outskirts of town, primarily to the east. Small
ranches are father to the east of these, and the large
spreads are still father out. It's common to see
homes with horse corrals and stables in and around
town. The median price of a two bedroom, two bath
home is $220,000, but it is quite possible to find
residences below that price.
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In town, modest, 1,000 square foot homes with
one to two bedrooms and one bath sell for around
$120,000 to $150,000. Homes with 1,500 square foot, a
single level, three bedrooms, two baths and frame
construction are priced in the $180,000 to $200,000
range. These are not luxurious but are comfortable and
in pleasant, average neighborhoods. In town,
higher-end homes with 4,500 square feet, four bedrooms and
three baths go for $425,000, but these are not the
norm. Out of town, two to three bedroom homes with
1,500 square feet sell for $250,000 to
$280,000. They also can go for much more,
particularly if they come with acreage for horses or other
livestock. Ranch prices depend size, but $2 million
can purchase 800 acres with on-site water and mountain
views. $7 million can buy 5,000 acres. The
Bureau of Land Management (BLM) owns a lot of land around
Cody, and much of it is leased by ranchers. Other property
abuts national forest land.
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Cody has a handful of mobile home communities, and Mountainview
Village Mobile Home Park is one for those 55 and above. At
this writing, no homes were for sale. There are also a
number of apartment complexes, and rents seem to average around
$400 per month for one bedroom units, but we would not recommend
any of these complexes for retirees.
Wyoming is a
"fractional assessment" state, which means, in short,
that a home is taxed on 9.5% of its value. A $200,000 home
would have taxes levied on $19,000 at a mill levy rate of
66.36%. There is no homestead exemption, but there is a
veteran's exemption and the Wyoming Department of Health provides
annual tax refunds to elderly and disabled residents.
Wyoming does have a homeowner's tax
credit program, but it is not always funded. There is no
state personal income tax, and retirement pensions are not taxed.
Cody,
Wyoming Overview
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