Cost of Living in Laramie County, Wyoming
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Laramie County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Laramie County ranks #2,546 of 3,144 counties for affordability (bottom 19%)
Data Story
About Cost of Living in Laramie County, Wyoming
Laramie County: Close to National Norms
Laramie County's rent-to-income ratio of 16.6% sits just above the national benchmark, suggesting relatively balanced housing costs despite a median income of $77,884 exceeding the national average of $74,755. This county represents one of the few Wyoming markets where renter affordability aligns reasonably well with national patterns.
Better-Than-Average Wyoming Affordability
Laramie County's 16.6% rent-to-income ratio ranks below Wyoming's state average of 15.5% by just 1.1 percentage points, placing it near the middle of the state's affordability spectrum. Higher median income than most Wyoming counties ($77,884) provides cushion that softens housing cost pressure.
Premium Pricing, Premium Wages
Laramie's median rent of $1,080/month runs 15% above the state average and reflects its status as Wyoming's largest metro area, anchored by Cheyenne. Home values hit $324,900—third-highest among surveyed counties—yet higher local wages ($77,884 median) make the math work better than in rural peers.
Laramie's Income Absorbs Housing Costs
Renters dedicate $1,080 monthly while homeowners carry $1,463, yet median household income of $77,884 means families still devote only 16.6% to rent—manageable by modern standards. The wage advantage makes Laramie's higher housing costs feel less punishing than they appear on paper.
Laramie County Rewards Wage-Earners
If you're relocating with a professional salary or remote income, Laramie County offers metro amenities without the coastal cost crisis—and local wages actually exceed the national median. Higher rents reflect real job opportunities; compare your offer against that $77,884 county median before deciding.
Cost of Living Advisory: Laramie County
Affordability Verdict
Laramie County offers affordable rental housing at a median of $1,080/month — about 16.6% of the typical household income here.
Rent vs. Own
At $1,080/month rent versus $1,463/month in owner costs, renting is roughly $383/month cheaper — a 26% difference.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $43,200/year. For owner costs at the 28% rule, the required income is roughly $62,700/year. With a median household income of $77,884, most households can comfortably afford rent here. Notably, 28.0% of renter households in Laramie County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Laramie County sits 11% more expensive than Hot Springs County ($976/month) in terms of median gross rent.
Affordability Calculator
See how your income compares to housing costs in Laramie County
Rent Burden
16.6%
of gross income
Max Housing (28% Rule)
$1,817
per month
Owner Cost Burden
22.5%
of gross income
The median home in Laramie County may be a stretch
Median home value is $324,900. Estimated monthly cost: $2,594 vs. your max of $1,817.
Rent Affordability Guide
Income Needed Calculator
See how much you need to earn to comfortably afford housing
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Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.
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