Close Menu
Truth Republican
  • Home
  • News
  • Politics
  • Business
  • Guns & Gear
  • Healthy Tips
  • Prepping & Survival
  • Videos
Facebook X (Twitter) Instagram
Truth Republican
  • Home
  • News
  • Politics
  • Business
  • Guns & Gear
  • Healthy Tips
  • Prepping & Survival
  • Videos
Newsletter
Truth Republican
You are at:Home»Business»Wyoming’s secret weapon in the battle for wealthy homebuyers is working
Business

Wyoming’s secret weapon in the battle for wealthy homebuyers is working

Buddy DoyleBy Buddy DoyleJune 20, 2025No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp
Wyoming’s secret weapon in the battle for wealthy homebuyers is working
Share
Facebook Twitter LinkedIn Pinterest Email

Wyoming’s tax policies are a boon for wealthy homebuyers. 

The state’s lack of an income tax and the permissibility of dynasty trusts have provided significant appeal to residents and homebuyers with deep pockets over the years, Realtor.com reported. 

A dynasty trust “facilitates the transfer of wealth to future generations while minimizing taxes” for the future recipients of the wealth and can therefore help “enable long-term wealth growth,” according to U.S. Bank. 

Other states such as South Dakota, Nevada and Delaware also have favorable terms for dynasty trusts. 

Latham Jenkins of real estate firm Live Water Jackson Hole told Realtor.com that Wyoming “is the most tax-friendly state.” 

SMALL REAL ESTATE INVESTORS REACH RECORD MARKET SHARE, NOW DOMINATE 59% OF INVESTOR PURCHASES

“Retirement benefits are not taxed at the state level, and it’s one of the most business-business-friendly states in the nation,” he added. 

Homes on the market in Wyoming had a median price of $495,000 in May but the state was still home to properties with asking prices well-above that, according to Realtor.com.

The real estate marketplace pegged the median asking price of Teton County, the county that encompasses Jackson Hole and parts of the Grand Teton and Yellowstone National Parks, at $2.95 million. Of the nearly 70 properties for sale in the county in May, 57 had an asking price of over $5 million. 

Welcome to Wyoming highway sign along Interstate 90 north of Sheridan. (Photo by: Don & Melinda Crawford/Education Images/Universal Images Group via Getty Images)

Wyoming overall had a larger proportion of properties on the market upwards of $5 million last month than the neighboring states of Idaho and Montana, with about 3% of the state’s 2,200 for-sale homes carrying a $5 million-plus price tag, per Realtor.com.

The real estate marketplace reported Wyoming has seen a difference in buyers and sellers when it comes to properties with asking prices above $10 million and those seeking $1 million. 

Those shopping for homes above $10 million have a higher propensity for strategic home acquisitions that they intend to hold onto thanks to the state’s tax advantages and using cash for their transactions, according to Realtor.com. Sellers in that category also reportedly tend to not have mortgages and be patient about offloading their properties. 

THE NEW PALM BEACH? JUPITER, FL, IS DRAWING LUXURY HOMEBUYERS

Mortgages are more common among owners of homes less than $10 million. 

The median number days a Wyoming home asking at least $5 million remained up for grabs was higher than Idaho and Montana, coming in at 187, according to Realtor.com.

“People are more bullish in their prices, and more confident,” Prugh Real Estate broker Margi Barrie said to Realtor.com. “A lot of people aren’t leveraged on their property so that they can sell them, or not.” 

THESE STATES SEE THE MOST ALL-CASH HOME PURCHASES

Jackson Hole saw 15 sales of homes above $10 million over the course of 2024, according to a report from Compass. 

More than 587,600 people called Wyoming home as of July 2024, per the U.S. Census Bureau.

 

Read the full article here

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Previous ArticleJudge orders anti-Israel ringleader Mahmoud Khalil to be released on bail
Next Article Pennsylvania And Virginia Finalize New Concealed Carry Reciprocity Agreement

Related Articles

Ackman backs Adams to stop socialist Mamdani, calls on Cuomo to drop out

Ackman backs Adams to stop socialist Mamdani, calls on Cuomo to drop out

July 3, 2025
US hits Iran’s ‘shadow fleet’ and oil smuggling network with sanctions

US hits Iran’s ‘shadow fleet’ and oil smuggling network with sanctions

July 3, 2025
Mortgage rates fall for fifth straight week, lowest since mid-April

Mortgage rates fall for fifth straight week, lowest since mid-April

July 3, 2025
Nissan issues massive recall as faulty part threatens engine failure

Nissan issues massive recall as faulty part threatens engine failure

July 3, 2025
Best and worst times to travel during the Fourth of July weekend

Best and worst times to travel during the Fourth of July weekend

July 3, 2025
Inside the CBO score that became ammo for both sides and nearly blew up the GOP’s flagship bill

Inside the CBO score that became ammo for both sides and nearly blew up the GOP’s flagship bill

July 3, 2025
Job growth picked up in June despite economic uncertainty

Job growth picked up in June despite economic uncertainty

July 3, 2025
Fireworks sales boom as Americans gear up for Fourth of July celebrations

Fireworks sales boom as Americans gear up for Fourth of July celebrations

July 3, 2025
Del Monte Foods files for bankruptcy

Del Monte Foods files for bankruptcy

July 3, 2025
Don't Miss
TOP 5 AMAZING CAMPING COOKING GEAR

TOP 5 AMAZING CAMPING COOKING GEAR

Ackman backs Adams to stop socialist Mamdani, calls on Cuomo to drop out

Ackman backs Adams to stop socialist Mamdani, calls on Cuomo to drop out

Justice Alito’s warning about nationwide injunction ‘loophole’ looms over Trump cases

Justice Alito’s warning about nationwide injunction ‘loophole’ looms over Trump cases

Dem lawmakers to inspect ‘Alligator Alcatraz’ detention center, citing safety concerns

Dem lawmakers to inspect ‘Alligator Alcatraz’ detention center, citing safety concerns

Latest News
U.S. Suspends Military Aid To Kiev

U.S. Suspends Military Aid To Kiev

July 3, 2025
US hits Iran’s ‘shadow fleet’ and oil smuggling network with sanctions

US hits Iran’s ‘shadow fleet’ and oil smuggling network with sanctions

July 3, 2025
From New York to Arizona, migrant facilities shuttering in wake of Trump’s border crackdown

From New York to Arizona, migrant facilities shuttering in wake of Trump’s border crackdown

July 3, 2025
M worth of cocaine, marijuana intercepted by Coast Guard

$20M worth of cocaine, marijuana intercepted by Coast Guard

July 3, 2025
Top 5 Crossbows That Are At Another Level

Top 5 Crossbows That Are At Another Level

July 3, 2025
Copyright © 2025. Truth Republican. All rights reserved.
  • Privacy Policy
  • Terms of use
  • Contact

Type above and press Enter to search. Press Esc to cancel.