Cody offers an attractive cost of living profile that combines Wyoming's tax advantages with reasonable living expenses. According to Sperling's Best Places, Cody's overall cost of living index is 98.7, slightly below the national average of 100, making it an economically advantageous choice for healthcare professionals. This affordability becomes even more apparent when compared to nearby major cities: Cody's cost of living is 32% lower than Denver, Colorado, 28% lower than Bozeman, Montana, and 45% lower than Jackson, Wyoming.
Housing costs in Cody are particularly favorable compared to other regional medical centers. The median home cost in Cody is approximately $375,000, significantly lower than Bozeman ($725,000) and Jackson ($1.2 million). This housing market provides physicians with the opportunity to invest in quality homes while maintaining financial flexibility. Property taxes in Park County are notably low, with an effective tax rate of 0.61% of assessed value, among the lowest in the region.
One of the most significant financial advantages of living in Cody is Wyoming's tax structure. The state has no personal or corporate income tax, allowing healthcare professionals to retain more of their earnings. Additionally, Wyoming has no state estate tax or inheritance tax, making it an excellent choice for long-term financial planning. Sales tax in Cody is a modest 4% state rate plus a 1% local option tax, significantly lower than many surrounding states.
Utility costs in Cody are approximately 5% below the national average, with relatively stable rates throughout the year. Transportation costs benefit from Wyoming's typically lower fuel prices compared to neighboring states, and commuting costs are minimal due to the city's compact size and lack of traffic congestion.
Healthcare costs in Cody are approximately 3% below the national average, while groceries and daily necessities align closely with national averages. The presence of multiple grocery chains and retail options helps maintain competitive pricing for everyday items. Many residents also find additional savings by taking advantage of Wyoming's abundant outdoor recreation opportunities, many of which are free or low-cost.
For physicians relocating to Cody, the combination of high earning potential and lower living costs creates an opportunity for significant financial advantage. The absence of state income tax alone can result in substantial savings compared to practicing medicine in surrounding states such as Montana (6.75% top marginal rate) or Colorado (4.55% flat rate). When combined with the lower housing costs and overall cost of living, physicians in Cody can enjoy a higher standard of living while maximizing their earning potential.
The real estate market in Cody offers diverse housing options that cater to various lifestyles and preferences, from historic homes in established neighborhoods to new construction in developing areas. The median home price of approximately $375,000 provides physicians with excellent value compared to other regional medical communities, while premium properties and luxury homes are available for those seeking high-end amenities.
Several distinct neighborhoods are particularly popular among medical professionals. The Canal View subdivision, located on the west side of Cody, features newer custom homes on larger lots with mountain views and easy access to hiking trails. The Sunset Elementary area, known for its well-maintained properties and tree-lined streets, offers a mix of ranch-style and two-story homes in an established neighborhood setting. The Mountain View subdivision provides upscale housing options with spectacular views of the Absaroka Mountain Range.
For those seeking proximity to Cody Regional Health, the neighborhoods surrounding the hospital offer a variety of housing options within walking distance or a short drive. The Alger Heights area features well-maintained homes on generous lots, while the nearby Goodtimes subdivision offers newer construction with modern amenities.
Rural properties and ranchettes are available in the surrounding areas, particularly along the South Fork and North Fork corridors. These properties typically range from 2 to 40 acres and offer privacy, views, and space for horses or other livestock. The Sage Creek area, approximately 10 minutes from downtown, provides rural living while maintaining easy access to medical facilities.
The rental market in Cody includes both apartments and single-family homes. Luxury apartment complexes like The Reserves at Cody offer modern amenities including fitness centers and covered parking, with monthly rents ranging from $1,200 for one-bedroom units to $1,800 for three-bedroom apartments. Single-family home rentals typically range from $1,500 to $2,500 per month, depending on size and location.
New construction continues in several areas around Cody. The Copper Creek subdivision, one of the newest developments, features energy-efficient homes with modern floor plans and mountain views. The Monument Hill area offers custom building opportunities on larger lots with panoramic views of the Bighorn Basin.
For physicians interested in historic properties, the downtown residential district includes beautifully maintained homes from the early 1900s, many of which have been thoughtfully updated while preserving their historic character. The Residence Hill neighborhood, featuring homes built in the 1920s and 1930s, offers character and charm within walking distance of downtown amenities.
Several real estate agencies in Cody specialize in helping medical professionals find suitable housing. Local firms like Western Real Estate, Real Estate Roundup, and Hall Realty maintain comprehensive listings and can arrange virtual tours for out-of-state buyers. The Cody Board of Realtors website (www.codyre.com) provides access to the Multiple Listing Service (MLS) and current market information.
For those considering building a custom home, several well-established local builders specialize in high-end residential construction. The building season typically runs from April through November, with the permit process streamlined through the City of Cody Planning and Zoning Department.
More affordable housing options can be found in nearby Powell, approximately 25 miles from Cody. Powell offers similar amenities with median home prices about 15% lower than Cody, providing an alternative for those seeking more affordable housing while maintaining easy access to Cody's medical facilities.
Cody consistently ranks as one of the safest communities in Wyoming, making it an ideal location for healthcare professionals and their families. The city's crime rate is approximately 65% lower than the national average, with violent crime rates significantly below both state and national averages. This exceptional safety record reflects both the community's strong values and the effectiveness of local law enforcement.
The Cody Police Department, staffed by 24 full-time officers, provides responsive 24/7 coverage throughout the city. The department maintains an average response time of under four minutes for emergency calls, significantly faster than the national average. Officers engage actively with the community through programs such as neighborhood watch initiatives, business security consultations, and youth outreach efforts. The department's community policing approach has resulted in strong relationships between law enforcement and residents, contributing to the city's safe environment.
Park County Sheriff's Office provides additional law enforcement coverage for the surrounding areas, working in close cooperation with the Cody Police Department. The sheriff's office maintains specialized units including search and rescue teams, crucial for both resident and visitor safety in the region's outdoor recreation areas. Their mounted patrol unit provides security during community events and assists with backcountry emergencies.
The city's safest neighborhoods include the Canal View subdivision, Mountain View area, and the Sunset Elementary district, all of which report minimal criminal activity. The downtown residential areas benefit from regular police patrols and well-lit streets, contributing to their safety record. The neighborhoods surrounding Cody Regional Health enjoy additional security oversight due to the hospital's 24/7 security protocols.
Emergency medical response in Cody is exceptional, with West Park Hospital EMS providing advanced life support services throughout the area. The EMS team maintains an average response time of six minutes within city limits, with additional air ambulance services available for critical situations. The city's fire department, staffed by both career and volunteer firefighters, maintains an ISO rating of 3, placing it in the top 3% of fire departments nationally.
Cody's commitment to public safety extends beyond law enforcement to include comprehensive emergency management planning. The city maintains updated emergency response plans for various scenarios, including natural disasters and severe weather events. The Emergency Operations Center coordinates responses between various agencies, ensuring efficient communication and rapid response to any situation.
The community's safety is further enhanced by design elements incorporated throughout the city. Well-maintained streets, adequate lighting, and clear signage contribute to traffic safety and pedestrian security. The extensive network of sidewalks and walking paths provides safe routes for children walking to school and residents enjoying outdoor activities.
Compared to nearby major cities, Cody's safety metrics are particularly impressive. The city's crime rate is 45% lower than Billings, Montana, 55% lower than Casper, Wyoming, and 60% lower than Denver, Colorado. This superior safety record makes Cody particularly attractive to physicians and their families relocating from urban areas.
The city's small-town atmosphere contributes significantly to its safety, fostering a community where neighbors know and look out for each other. Local businesses participate in safety initiatives through the Chamber of Commerce, maintaining well-lit parking areas and security protocols that enhance overall community safety. The strong sense of community connection means unusual activities are quickly noticed and reported, contributing to crime prevention efforts.
