Wyoming Carpenters Earn an Adjusted $57K, Slightly Above U.S. Median

The construction and real estate industries are undergoing significant shifts in 2024. While the residential sector experienced a boom during the COVID-19 pandemic, new home construction has now declined from its 2022 peak. In contrast, public sector construction has seen steady growth, fueled by major legislative efforts like the Bipartisan Infrastructure Law and the Inflation Reduction Act.

For carpenters and other skilled trade workers, this evolving landscape can influence job opportunities and wages, with some cities offering more lucrative prospects than others.

Price Trends for Wood & Lumber Products

Lumber prices have stabilized after record increases during the COVID-19 pandemic

Source: Construction Coverage analysis of U.S. Bureau of Labor Statistics data | Image Credit: Construction Coverage

Despite strong overall demand, the construction industry continues to contend with high material costs and labor shortages. Lumber prices, which surged during the pandemic, have stabilized but remain significantly higher than pre-pandemic levels. The shortage of skilled workers, particularly carpenters, persists, with over 60% of builders reporting shortages according to the National Association of Home Builders. To attract and retain workers, many employers are raising wages, providing a favorable outlook for carpenters.

Regional Differences in Carpenter Wages

Hawaii boasts the highest wages for carpenters

Source: Construction Coverage analysis of U.S. Bureau of Labor Statistics data | Image Credit: Construction Coverage

Carpenters already make good wages compared to other professions with similar educational requirements. The median annual wage for carpenters in 2023 was $56,350 (up nearly 10% year-over-year). This exceeds the median not only for other construction trades ($52,000) but also for all occupations ($48,060). With employers feeling the pressure to raise wages and keep up with demand for construction, the occupation’s position could improve even further.

As with other professions, carpenters command significantly better pay in certain locations than in others. Hawaii offers carpenters a cost-of-living adjusted median annual wage of $74,017—nearly $6,500 higher than the next state, 31% higher than the national median, and the only state with an adjusted wage above $70,000. Hawaii has the highest union membership rate of any state and also has strong prevailing wage laws . Other top states include Illinois ($67,551) and Washington ($65,645), both of which have a strong union presence and high state minimum wages. Overall, the Midwest and West Coast regions generally offer the highest wages for carpenters after adjusting for cost of living.

Unsurprisingly, at the metro level, several locations in these regions are also among the best-paying for carpenters. Among major metropolitan areas with populations of one million or more, Chicago, Minneapolis, and San Francisco rank as the top three best-paying locations for carpenters.

This analysis was conducted by Construction Coverage , a website that provides construction insurance guides, using data from the U.S. Bureau of Labor Statistics. To determine the best-paying locations for carpenters, researchers calculated the median annual earnings for carpenters, adjusted for cost-of-living differences.

Here is a summary of the data for Wyoming:

Median annual wage for carpenters (adjusted): $56,581Median annual wage for carpenters (actual): $52,000Median annual wage for all workers (actual): $47,250Relative concentration of carpenters (compared to average): +101.0%Relative cost of living (compared to average): -8.1%

For reference, here are the statistics for the entire United States:

Median annual wage for carpenters (adjusted): $56,350Median annual wage for carpenters (actual): $56,350Median annual wage for all workers (actual): $48,060Relative concentration of carpenters (compared to average): N/ARelative cost of living (compared to average): N/A

For more information, a detailed methodology, and complete results, see The Best-Paying American Cities for Carpenters on Construction Coverage.