Other than Jackson Hole’s natural beauty, the main reason that real estate is so expensive is because of the amount of federally protected land in Teton County.  Teton County encompasses over 2.9 million acres and roughly 97% of this protected land is overseen/owned by the federal government.  Privately owned land in the county amounts to about 76,560 acres, and of this privately owned land, roughly 23% has been placed under a conservation easement restricting future development.