Step inside Jackson Hole, Wyoming, where the ultra-rich live and vacation

Business Insider’s reporter went to Jackson Hole, Wyoming, to see how some of America’s wealthiest live and vacation.

In the valley below the Teton mountain range, some of the wealthiest people in America kick back on their terraces and look out at a vast mountain landscape where mansions are hidden in the towering evergreen trees.

They have saunas in their houses and spend thousands on custom-made cowboy hats with diamond bands.

I’m talking about the wealthy enclave of Jackson Hole in Teton County, Wyoming — one of the richest counties in the US.

Jackson Hole has long been a billionaire hideout and the city with the most unequal income in the US. According to the Economic Policy Institute, the top 1% of residents in the metro area earn 132 times the income of the bottom 99% of residents. The average income of the top 1% sits above a cool $16 million.

A-listers from Kanye West and the Kardashians to Sandra Bullock and Harrison Ford have bought property in Jackson Hole.

Still, I recently visited the city for the first time to see what makes this place so coveted for high earners.

Lower taxes and mountain views draw wealthy DINKs and boomers to Jackson Hole.

Pedestrians stroll through Downtown Jackson. 

From Texas to California, affluent Americans are buying up property in Jackson Hole, a luxurious Wyoming escape.

The city has fewer than 11,000 residents where mansions dot mountain ranges, and a stroll downtown feels like the Wild West — if you ignore the hoodies, baseball caps, and automobiles.

Jackson Hole real-estate agent Sam Haack told Business Insider that his clients are usually boomers or DINKs (dual-income, no kids).

“The baby boomers have largely gained their wealth through their appreciation of assets over the years like their equity portfolios, other homes, and businesses,” he said. “Some of these clients may still work W2 jobs in finance, consulting, or real estate but are usually business owners and entrepreneurs.”

Haack added that about 40% of his sales are for full-time residents, and the other 60% are second homes and investment properties.

Sotheby’s Jackson Hole-based real-estate agent Laurie Huff told B-17 that her clientele is similar.

“Our clients in the past few years have ranged in age from 30 to 60 years and come from high-net-worth backgrounds,” she said in a statement. “A finance/business background seems to account for a large percentage.”

She added that about half of her clients move in full-time. “Others stay for six-plus months and then spend part of the year in a warmer climate,” she wrote.

Jackson Hole is located in Teton County, Wyoming.

Jackson Hole is on the western edge of Wyoming.

Jackson Hole is a 60-mile-long valley in Teton County, Wyoming, that includes the towns of Jackson, Moose, Teton Village, and Wilson.

Kelly is a small, census-designated place in the greater Jackson Hole area that’s worth mentioning because it’s home to the most expensive listing in Wyoming right now, a $65,000,000 luxury ranch.

Only 3% of the entire county can be built on — making the real estate inherently a buyer’s market.

A wealthy neighborhood in Jackson Hole.

According to Viehman Group’s 2024 third-quarter Jackson Hole Real Estate report, the average price of a listing in the city over the last three months was $6.42 million. Today, the most expensive house on the market is a six-bedroom, seven-bathroom home on more than 9,100 square feet that is listed at $40 million.

“As a buyer, it is so competitive because of simple supply and demand,” Haack told B-17. “We have always had much more demand than supply because, well, it’s one of the most beautiful places in the US, and the lifestyle is unmatched.”

The supply is very limited — only 3% of the county is private land that can be built on. “The rest is public land owned by the federal, state, or local governments,” he added.

Because of the scarcity of available land, Haack said buyers “tend to hang onto these properties for the appreciation and tax advantages, leading to even less inventory and supply.”

I understood why millionaires want to live in Jackson Hole, Wyoming, before my plane even landed.

A view from a plane descending into Jackson Hole.

As we put our seats in the upright position to prepare for landing on my flight to Jackson Hole, I looked out the window to see Grand Teton National Park from above.

Mountain ranges went on for miles between valleys and bodies of water. It was one of the most epic views I’ve seen from a plane.

People who live here get this view on every flight home into Jackson Hole Airport, one of the smallest and most luxurious in the country, located inside Teton National Park. It’s so small that passengers enter and exit the plane from outside.

When I stepped onto the tarmac, I was immediately taken by the freshness of the air. I smelled hints of pine trees as the wind blew through my hair. Before heading into the airport to exit, I spun around for a 360-degree view of the mountains.

The most developed part of the valley is the town of Jackson.

Million Dollar Cowboy Bar is in Downtown Jackson.

Home to the famous Million Dollar Cowboy Bar, Jackson is a small town with shops, restaurants, and architecture reminiscent of the American West.

When I visited, the downtown area was full of tourists, but retail seemed to cater to locals, too. There were home furniture and decor stores on every block. And I think tourists shouldn’t miss the celebrity-loved, luxury cowboy hat store, Kemo Sabe. Staff members mold the hats and customize them with bands, features, and branding right in the store.

Haack told B-17 that families tend to move to East Jackson, which is conveniently located near the town square. According to Sotheby’s International Realty, the area has a mix of condos, townhouses, and single-family homes costing as much as $8.7 million.

“You’ll find young families that ride their e-bikes to work and to get ice cream in the summer,” he said of the area.

From Wilson to Teton Village, the other parts of Jackson Hole are more remote — and expensive.

A mansion sits on a hill in Jackson Hole.

The richest residents in Jackson Hole tend to live in the more remote areas around Jackson in the greater Jackson Hole region: Kelly, Moose, Teton Village, and Wilson.

Haack told B-17 that Teton Village and Wilson typically have the largest and most expensive homes in Jackson Hole.

“These two areas are popular due to their more quiet nature as well as being outside of the now traffic-filled town of Jackson,” he added.

These homes can be up to three stories high and have stunning architecture, water features, and, of course, views.

A mega mansion in Jackson Hole.

During my trip, I saw a mix of luxury cabins and modern mansions in these neighborhoods.

“The two main categories of architecture we see in Jackson Hole are log cabin (old Jackson style) and Mountain Modern (new Jackson style),” Haack told B-17. “Log cabins never go out of style but do require a lot more maintenance.”

I saw modern homes with mixed materials, sleek exteriors, flat roofs, and patios with water features like fountains and mini falls. I even went inside a mansion and found unique features — from an indoor sauna to a double-sided fireplace.

Due to zoning constrictions, Jackson Hole’s mega mansions can only be up to three stories tall, so many are sprawled out like ranches on vast properties.

It seems like no matter where the rich choose to live in Jackson, they have incredible views.

Mountains are visible behind a street in Jackson.

After seeing Jackson Hole for myself, I can see why people want to move and vacation there. The ultra-luxury vibe with Western flair seems like an ideal place to escape.

And now that I’ve seen those mountains, I know I’ll be back.