Basin has a cold desert climate. The town had the highest temperature ever recorded in Wyoming,, on August 8, 1983, and also holds the state record high temperatures for April and July. In general, the eastern portion of the Bighorn Basin is hotter than the rest of Wyoming during the summer months. Due to frequent low humidity, daily temperature ranges are large, whilst due to the very dry conditions snowfall is among the lightest in the northern Rockies and Plains region – it is not uncommon for no measurable precipitation to fall in a month between September and April. There are an average of 50.9 days annually with highs of or higher and an average of 186.0 nights with lows of or lower. The all-time record low for Basin was on January 30, 1951. The wettest calendar year in Basin was 2005 with and the driest 1902 with. The most precipitation in one month was in June 1967. The most precipitation in 24 hours was on June 29, 1909. The most snowfall in one season was between July 1958 and June 1959, whilst the most snow in one month was during September 1984.
As of the census of 2010, there were 1,285 people, 520 households, and 333 families residing in the town. The population density was. There were 571 housing units at an average density of. The racial makeup of the town was 94.2% White, 0.5% African American, 1.9% Native American, 0.5% Asian, 1.6% from other races, and 1.3% from two or more races. Hispanic or Latino of any race were 5.4% of the population. There were 520 households, of which 25.0% had children under the age of 18 living with them, 51.9% were married couples living together, 8.3% had a female householder with no husband present, 3.8% had a male householder with no wife present, and 36.0% were non-families. 31.5% of all households were made up of individuals, and 15.8% had someone living alone who was 65 years of age or older. The average household size was 2.27 and the average family size was 2.83. The median age in the town was 46.4 years. 20.1% of residents were under the age of 18; 6.7% were between the ages of 18 and 24; 21.5% were from 25 to 44; 27.2% were from 45 to 64; and 24.4% were 65 years of age or older. The gender makeup of the town was 50.0% male and 50.0% female.
2000 census
As of the census of 2000, there were 1,238 people, 504 households, and 330 families residing in the town. The population density was 613.7 people per square mile. There were 565 housing units at an average density of 280.1 per square mile. The racial makeup of the town was 96.77% White, 0.08% African American, 1.05% Native American, 0.24% Asian, 0.97% from other races, and 0.89% from two or more races. Hispanic or Latino of any race were 2.26% of the population. There were 504 households, out of which 22.2% had children under the age of 18 living with them, 56.3% were married couples living together, 6.3% had a female householder with no husband present, and 34.5% were non-families. 31.3% of all households were made up of individuals, and 16.5% had someone living alone who was 65 years of age or older. The average household size was 2.20 and the average family size was 2.74. In the town, the population was spread out, with 20.1% under the age of 18, 5.5% from 18 to 24, 19.6% from 25 to 44, 27.9% from 45 to 64, and 26.9% who were 65 years of age or older. The median age was 48 years. For every 100 females, there were 90.8 males. For every 100 females age 18 and over, there were 86.6 males. The median income for a household in the town was $33,519, and the median income for a family was $42,768. Males had a median income of $33,942 versus $20,139 for females. The per capita income for the town was $17,890. About 6.1% of families and 11.6% of the population were below the poverty line, including 17.5% of those under age 18 and 12.7% of those age 65 or over.
Public education in the town of Basin is provided by Big Horn County School District #4. The district has four campuses – Laura Irwin Elementary School, Manderson Elementary School, Cloud Peak Middle School, and Riverside High School. Basin has a public library, a branch of the Big Horn County Library System.
