Laramie, WY

Below Avg · 77

Wyoming · Population 31,848 · Updated March 2026

$933
Median Rent / Month
$52,414
Median Income
$302,200
Median Home Value
$990
Owner Costs / Month

Affordability

How far your income goes in Laramie

21.4%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Wyoming

State-level tax rates that affect your costs

0%
Income Tax (Top Rate)
4.0%
Sales Tax
0.56%
Property Tax Rate

Estimated Annual Costs

$11,196
Annual Rent
$0
State Income Tax
$1,692
Property Tax (est.)

Cost of Living Overview

Laramie is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 77 (where 100 equals the national median), Laramie residents can expect to pay median rent of $933/month while earning a median household income of $52,414/year.

The median home value in Laramie, WY is $302,200, with typical monthly owner costs around $990 including mortgage, insurance, and taxes. The median rent-to-income ratio of 21.4% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Wyoming has no state income tax, which can represent significant savings compared to high-tax states. Combined with a 4.0% sales tax rate and 0.56% effective property tax rate, the overall tax environment helps keep costs manageable in Laramie.

Frequently Asked Questions

Common questions about living costs in Laramie

What is the cost of living in Laramie, WY?
The cost of living index in Laramie, WY is 77 (US average = 100). Median monthly rent is $933, median household income is $52,414/year, and the median home value is $302,200.
Is Laramie, WY affordable?
Yes, Laramie is more affordable than the national average with a cost index of 77. The rent-to-income ratio is 21.4%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Laramie, WY?
The median gross rent in Laramie, WY is $933 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $11,196.
What is the median household income in Laramie?
The median household income in Laramie, WY is $52,414 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Wyoming?
Wyoming has a top income tax rate of 0%, a sales tax of 4.0%, and an effective property tax rate of 0.56%. Notably, there is no state income tax.