Laramie, Wyoming Housing Market Prices
Laramie Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 93% below the Wyoming median$17,500
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Median rent 6% below the Wyoming median$931
Housing Market Overview
| Metric | Laramie | Wyoming Avg | US Average |
|---|---|---|---|
| Median Home Price | $17,500 | $262,084 | $248,835 |
| Price Trend (Annual %) | -14.7% | 6.9% | 7.5% |
| Median Gross Rent | $931 | $991 | $1,407 |
| Rent Trend (Annual %) | 3.5% | 2.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Laramie is about 93% lower than in Wyoming. Rent is about 6% lower than the Wyoming average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Home prices and rent are moving in opposite directions in Laramie: home prices fell about 14.7% a year while rent rose about 3.5% a year. That is an unusual pattern worth watching.
Median rent in Laramie rose about 30.5% between 2015 and 2024, from $714 to $931. Over the same span, rent in Wyoming rose about 25.7%.
Affordability
On average, housing unit costs 0.3 yearly household incomes in Laramie.
Buying the median-priced home in Laramie costs roughly 1.6 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Laramie. The price-to-rent ratio in Wyoming is about 22.0.
| Metric | Laramie | Wyoming Avg | US Average |
|---|---|---|---|
| Median Home Price | $17,500 | $262,084 | $248,835 |
| Median Household Income | $54,025 | $76,390 | $80,455 |
| Price-to-Income Ratio | 0.3 | 3.4 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Laramie fell about 89.2%, while median household income rose about 44.5% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Laramie | Wyoming Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 40.0% | 63.0% | 58.5% |
| Rental Rate | 54.3% | 24.8% | 31.2% |
| Vacancy Rate | 5.7% | 12.2% | 10.2% |
| Median Tenure (years) | 8.0 | 14.0 | 15.0 |
| Median Year Moved In | 2018 | 2012 | 2011 |
Laramie has a homeownership rate of 40.0%, lower than the Wyoming average of 63.0%. Its housing vacancy rate is 5.7%, compared with 12.2% in Wyoming.
Housing Stock
| Metric | Laramie | Wyoming Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.06 people | 2.34 people | 2.53 people |
| Median Structure Built Year | 1971 | 1980 | 1978 |
| Median Number of Rooms | 5.1 | 5.8 | 5.5 |
The typical housing unit in Laramie was built around 1971. On average, 2.1 people live in a home with about 5.1 rooms, staying for about 8.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Laramie, Wyoming.
What is the median home price in Laramie, Wyoming?
The median home price in Laramie, Wyoming is $17,500, lower than the Wyoming average of $262,084.
What is the average home price in Laramie, Wyoming?
The typical home price in Laramie, Wyoming, reported as the median sale price, is $17,500. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Laramie, Wyoming?
The median gross rent in Laramie, Wyoming is $931 per month, lower than the Wyoming average of $991.
What was the median gross rent in Laramie in 2020?
In 2020, the median gross rent in Laramie, Wyoming was $815 per month.
What is the price-to-rent ratio in Laramie, Wyoming?
The price-to-rent ratio in Laramie, Wyoming is about 1.6, meaning it would take roughly 1.6 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Laramie.
Are home prices or rent rising faster in Laramie, Wyoming?
Home prices and rent are moving in opposite directions in Laramie: home prices fell about 14.7% a year while rent rose about 3.5% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Laramie, Wyoming?
40.0% of households in Laramie, Wyoming own their home, lower than the Wyoming average of 63.0%.
What is the vacancy rate in Laramie, Wyoming?
The housing vacancy rate in Laramie, Wyoming is 5.7%, lower than the Wyoming average of 12.2%.
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