The relationship between “Teton Valley,” Idaho (which is comprised of Victor, Driggs, and Tetonia) and Jackson, Wyoming, is an interesting one.

For you skiers out there, think about the resorts and cities that come to mind when you go through your Rolodex in North America.  You know “Whistler,” of course.  You know Banff, but you’re more familiar with the name of the ski town itself than Mt. Norquay.  You know Mount Tremblant in Quebec as well.  South of the border, you know Park City, Utah, as it was the host to the 2002 Olympics (Salt Lake City was technically the host, but most of the events were in Park City), you know about Vail and Aspen, and you’ve heard there’s skiing on the east coast, but you don’t actually know anybody that’s been to Stowe, Vermont.  Then, of course, you know Jackson Hole, in Wyoming.

But what about Grand Targhee?

Where?

Grand Targhee.

A little-known resort in Idaho.

Wait, that’s not entirely true.

It’s actually in Wyoming.

But it’s basically, essentially, de-facto, in Idaho, since you access it from Idaho; it just happens to be across the Wyoming border.

Here, take a look:

That blue dot is where I am right now, halfway between Victor and Driggs, in “Teton Valley.”

You can take I-33 south into Highway-22 and drive up through the mountain, through Wilson, to Teton Village – and that’s where the world-class Jackson Hole Ski Resort is located.

But to access Grand Targhee Resort, in Wyoming, you’re actually leaving from Victor, Driggs, Tetonia, or wherever else you may be staying.

As you can see from the map, Victor and Driggs are both “border towns.”  From our front door to the base of Jackson is about 35-minutes, and that’s going way up into the mountains, through a pass that can be treacherous in the winter.

But the reality for many people who live within a 30 KM radius is: life is lived on both sides of the border.

Most of the folks that live on the Idaho side actually work in Wyoming.

I hear it every summer, “Nobody wants to work on this side,” I’m told, and that’s in reference to everything from delivering pizzas to building homes.

The guy who runs our local golf course told me this week that he can’t find anybody to build the new clubhouse.  “It’s $225 per square foot here; they’re getting $650 per square over in Jackson.”

He said contractors were laughing at the prospect of taking on the project.

“Framers who make $15 an hour here are making $28, $29, $30 an hour over there,” he told me.

Oh, and there’s one more thing.  And this one is a doozie, folks:

Wyoming is 1 of only 9 states that do not tax individual wage income.

Yes, you read that correctly.

The state of Wyoming does not levy a personal or corporate income tax.  (see source HERE)

So with THAT in mind, perhaps we can discuss why there’s such a massive difference in value between properties in Teton Valley, and properties in Jackson?

Don’t get me wrong, I see the difference.

I love our quaint, middle-of-nowhere home here in (between) Victor, but the action is in Jackson.  At least in the summer, which is when I come down.  In the winter, if you’re here for skiing, then being in Teton Valley is fantastic.  The cost of living is lower for those who live and work here, and access to Grand Targhee is easy.  But in the summer, the valley is dry.

With the action over in Jackson, it’s no wonder the real estate costs more.

Downtown Jackson, Wyoming, is one of my favourite places in the world.  If you want to see a real, authentic midwest down (with just a hint of touristy-flavour), head to Jackson Square.

So what does it cost to live here?

A pretty penny, to say the least.

HERE is a house for just shy of $27 Million, USD.

There are no shortage of insane houses, estates, and ranches.

But if you’re a “normal” person, looking for something toward the lower end of the spectrum, what will it cost you?

“Jackson” means a lot of things to a lot of different people, and nearby Wilson and Kelly get thrown into the same boat.  But if you want to be close to the action, and for reference, I’ll use Jackson Town Square as our starting point, what will it cost you?

Take a look at the map, and the property I’ve found on East Pearl Avenue:

That location is fantastic.

It’s two blocks “up” from the square (meaning east), and one block “over” (south).

It’s literally a 5-minute walk from the upscale coffee shop that both residents and tourists love.

And there’s a bus stop right outside, although I never see anybody on the bus.  I didn’t even know they had buses until this week.

So what does that house cost?

$950,000, USD.

And what do you get?

This:

Doesn’t the FORD in the driveway just “fit” in that incredibly stereotypical way?  I think this could be the inspiration for many-a country song.

So in case it’s not obvious, that house is essentially land value.

Land value for $950,000 USD.

What about condos in new developments?

I feel like we’re on Million Dollar Listing here.

Check out this location on South Glenwood Street:

This is still an A+ location within downtown Jackson, and this area is more retail/commercial/residential than the last listing, which is on a street with only houses.

There are currently eight units for sale in this building, which was completed in 2017.

A 1-bedroom, 1-bathroom unit, measuring 1,044 square feet (just think – in Toronto, 1,044 square feet would be a 3-bedroom in today’s new developments…) is priced at $992,000.

That’s $950 per square foot, USD of course, but it makes a fun comparison to Toronto.

And what do you get?

Oh boy – check it out:

There’s a 2-bed, 2-bath, 1,325 square feet for $1,524,000, or $1,150/sqft.

And they have an even larger one-bedroom layout – a whopping 1,407 square feet.  Try finding that in Toronto!

Now just for fun, and because I can’t control myself, let me show you one more property.

This one isn’t in Jackson, but I think that’s exactly the point.

This is about a 12 minute drive to Jackson, but only because you have to wind up through the mountains:

And what lays there at 1515 Lower Ridge Road?

A 5-bedroom, 5-bathroom house, measuring 6,329 square feet on a 3.76 acre lot.

Built in 2016.  All one-level.

For $11,750,000.

But this isn’t just any piece of fantasy real estate.  Those $27 Million homes I alluded to earlier can’t hold a candle to this.

Tell me if I’m wrong:

The view out the window of one of those photos is literally a framed picture I own.

It’s so ironic that this person has that out their window.

Anyways, there’s a crash course in Jackson real estate.

But the story isn’t complete without a comparison to what you get here in Victor.

The 1-bed, 1-bath condo in Jackson was $992,000, correct?

So how much for a 3-bed, 2-bath house here in Victor?

Check out the photos, and then guess the price:

What was your guess?

Be honest – and feel free to post below.

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This house is priced at $325,000, and it’s been reduced, and continues to sit.

I would think they’re negotiable, but this isn’t my market.

How about $300,000 for that home?

How does that compare to the $950,000 land value in Jackson?

And before you make the suggestion, I assure you, we are not comparing downtown Toronto to Ajax here.  There’s no question that Jackson and Victor are different places, and that the whole of Teton Valley pales in comparison to Jackson.

But think of the opportunity for the year-round residents who live in Victor – in their $300,000 houses, work and earn a living in Wyoming, and are home every day by 5:30pm.

Anyways, that’s it for me today.

Hope you enjoyed!