Home Values in Exclusive Jackson Hole Explode Up to 2,000% in 30 Years

Since the 1990s, home prices throughout the country have skyrocketed—but the increase in home values in one exclusive, ultraluxury territory far exceeds the national average.

Nationally, home values rose about 300% from 1995 to 2025, according to data from the Case-Shiller home price index.

Meanwhile, in the exclusive resort town of Jackson Hole, WY, home values have exploded up to 2,000% over the same 30-year period, according to a new analysis of property transactions in the area.

While the area has become popular in recent years as a world-class destination for hunting, fishing, and skiing, Jackson Hole has a unique feature that sets it apart even from similar resort communities: scarcity. 

“In Teton County, we are surrounded by approximately 97% of protected lands. So we have the national forest, we have the national park, we have properties that people have privately put into conservation,” real estate agent Ashley DiPrisco of Evans & DiPrisco tells Realtor.com®.

“So we really don’t have the opportunity to completely explode, like some other mountain towns, as far as urban sprawl because we have such a limited supply. And then that’s just basic economics, right? You have a limited supply and a lot of demand, then your pricing structure just gets crazy,” says DiPrisco.

In its semiannual Jackson Hole Report, the Viehman Group compared more than 100 comparable properties that were sold between 1995 and 1999 and then sold again between 2024 and 2025 in order to identify price trends over 30 years.

The single-family home in the report with the highest appreciation, found in Spring Creek Resort, was sold for $525,000 in 1996. It was sold again in 2024 for $10.95 million—a staggering 2,085% gain.

The single-family home in the report with the lowest appreciation was also located in Spring Creek Resort. The home was sold for $1.595 million in 1999, and again in 2025 for $5.1 million. This home’s value increased by 320%—still higher than the national average for the same period.

The report notes that both properties underwent improvements over the 30-year period, but no changes were made to their square footage. This was consistent among most of the homes included in the study.

Across the valley, single-family homes saw an average appreciation of 1,118% over the three-decade span. Condominium and townhome values appreciated by an average of 742% across the valley.

Even the value of vacant property with no improvements appreciated by an average of 896%. One 5.43-acre parcel of land north of the town of Jackson was sold for $275,000 in 1997 and resold for $5.45 million in 2025: a 1,982% increase despite no changes to the land.

In recent years, Jackson Hole has become an increasingly popular destination for the ultrawealthy, which is reflected in area home values.

The area’s luxury market, defined as condos, townhomes, and vacant residential lots priced at over $5 million and home sales priced at over $10 million, registered 30 sales during the first half of 2026, up 15% from the same period in 2025. 

During the first six months of 2026, 33 single-family homes were sold for over $5 million, while only two homes were sold for under $1 million. To compare, 42 homes were sold for under $1 million in the first six months of 2018, according to the Viehman Group.

Of the current available inventory of townhomes and condos, only 16% are listed for less than $1 million.

Both homes and townhouses or condos are appealing to the wide range of people looking to join in the Jackson Hole lifestyle.

“Everything’s desirable. We have a lot of young people coming in their 20s who find the townhome or the condo appealing, and then we have the grandparents looking for the place with the big yard and the wildlife for when the family comes to visit,” says DiPrisco, who grew up and is now raising a family in the exclusive area.

The appeal of Jackson Hole

Wealthy buyers are looking to Jackson Hole not just for its prestigious reputation.

Wyoming doesn’t have a state income tax, which makes becoming a resident very attractive. The state also has no corporate income tax, estate tax, or real estate transfer tax, giving buyers added advantages.

“Wyoming’s tax environment has become an increasingly important part of that demand” says real estate broker Latham Jenkins from Live Water Properties. “I am working with more buyers who are looking not just for a second home, but for a place where they can establish residency and make a long-term investment in their family’s lifestyle and wealth planning.”

Jenkins says that as more states consider measures such as wealth taxes or additional income taxes on high earners, affluent families are becoming much more thoughtful about where they choose to live.

“For the ultrahigh net worth buyer who wants a Rocky Mountain home, estate, or ranch, Wyoming is extraordinarily difficult to compete with,” he says. “You have the Tetons, national parks, national forests, world-class recreation, and an exceptionally favorable tax environment. Then add the fact that private land is incredibly scarce. That combination is what continues to support values.”

The area is also a four-season destination, providing skiing in the winter and access to world-class hiking and fishing during the summer. Fine dining restaurants and art galleries add more amenities for affluent families.

“You can go to the lake, you can go float the river, you can go climb a mountain, and then you can go get a fabulous dinner downtown,” says DiPrisco.

The combination of the attractive lifestyle and tight inventory of buildable land, all while offering impressive tax benefits for residents, has made Jackson Hole the ultimate destination for well-to-do homebuyers.