Published on Wednesday, May 04, 2016 by Land Century
Population and Climate
As of 2010, Rawlins has a population of 9,259 with about 1,123.7 resident per square mile. Of the 3,445 households in the city, about 35.5% had children under 18 living with them. The population has seen modest growth since 2000, when there were 8,538 people living in Rawlins. At the time, the median income for households was $36,600, and only about 13.7% of the population lived below the poverty line.
Interestingly, new data shows that about 20% of the population in Rawlins earns between $100,000 and $150,000 about 8% higher than the national percentage. About 14.29% earns $75,000 and $100,000. Only 8% of the population earns less than $15,000 compared to 12.61% on a national level. About 79% of people in Rawlins own their homes, and 35% are single. About 21% are college-educated, and the median age is 37 primetime for buying a home. Thats good news for land investors because demand for new homes or rental properties will be higher due to higher wages.
Back when the city first developed in 1870, there were just 612 people living in Rawlins. By 1880, the population had jumped up to 1,451. The citys population has been growing ever since, with 1980 seeing one of the biggest jumps when the number of residents jumped by 47% from 10 years prior.
The climate in Rawlins is semi-arid, which means temperatures can get pretty warm in the summer, and drop down low in the winter (or in the evening in the summer).
* Average high temperature in July and August is about 85 degrees Fahrenheit.
* Average high temperature in December and January is about 33 degrees Fahrenheit.
* Record highs can soar to 98, while record lows can dip all the way down to -36.
On average, the area receives about 9.74 inches of precipitation each year, with the wettest month being May.
Economic Data for Rawlins
Rawlins has a very low unemployment rate of just 3.7%, and job growth is modest at 2.48%. Over the next decade, job growth is expected to rise 41.3%.
As for jobs, sales, construction and transportation/production are the most prominent occupations:
* Sales/Office/Administrative Support: 23.9%
* Production/Transportation/Material Moving: 19.72%
* Construction/Extraction/Maintenance/Repair: 16.63%
* Management/Business/Finance: 8.77%
* Food Preparation/Serving: 7.48%
* Firefighters/Law Enforcement: 4.49%
The local economy is faring well, and residents earn higher wages, on average, compared to the rest of the country. But what about the local real estate market?
Rawlins, Wyoming Real Estate Market
In Rawlins, the median listing price for homes is $152,000, which equates to about $83 per square foot. The average (different than the median) is $172,015. The median closing price is $110,000, so homes are still affordable even though a large percentage of residents earn high incomes. Rental prices are about $1,000-$1,200 a month, so there is some potential to earn a nice return form rental properties. Recent data shows no increase in rent prices, but there is a 1% week-over-week increase in home prices.
Where to Find Bargain Deals on Land
Rawlins real estate market is doing well, but what about the land market? Finding land directly in the city isnt easy, but just outside, youll find great opportunities to get your hands on dirt cheap land (and lots of it). Just take a look at one of our recent listings:
* 40 acres for sale in Sweetwater County is selling for $7,999. Taxes are just $30.44. This property is zoned recreational and dirt road access is available.
Thats a lot of land that you can buy at dirt cheap prices. Granted, these properties are zoned recreational, but theres still great opportunity to generate income from these vacant lots. How, you ask? Lease the land for hunting. Sweetwater County has a long tradition of hunting big game and birds, including elk, mule deer, moose, sage grouse and waterfowl. With 40 acres, there is more than enough space for hunting. Depending on the location, you may also be able to build a small cottage, which you can rent out to hunters or people looking for a getaway. Now, since land is very cheap in Sweetwater County, lets take a minute to look at the statistics for this area.
Population and Climate
Sweetwater County boasts a population of 43,806, and it sits just west of Rawlins. Its the largest county in Wyoming, and is home to Rock Springs, a micropolitan. As of the 2010 census, there were about 18,735 homes in the county, and the median age was 32.8 years a relatively young city.
Theres even more great news: land prices are low, but people in this area earn a lot. The median household income was $69,828, and the median family income was $79,527. As for the real estate market, theres quite a range when it comes to the average listing price for homes. Like any other county in America, some areas have homes with higher values, and others have lower values.
The top four zip codes in Sweetwater County had average listing prices of:
* $240,673 (82935)
* $219,000 (82336)
* $216,520 (82901)
* $125,975 (82932)
There are two zip codes in which home prices are significantly lower:
* $69,900 (82322)
* $50,000 (82938)
The great news is that the majority of areas have homes that are at or above the national average, and if land is dirt cheap, you can make a nice return on your investment if you choose to build a home and sell it. Recreational land can earn you income, too, if theres a high demand for hunting land in the area.
The Rawlins, WY area is rich in possibilities, and you can find some real gems when browsing the land market. But dont be afraid to venture out into other areas, too, like Sweetwater County, where you can find even more land for lower prices.