Total monthly cost of ownership
Cost to Own a Home in Laramie, Wyoming
A $302,000 home here costs
$2,348per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $100,500 a year.
A standard mortgage calculator would have told you $1,646. The real number is $702 higher every month, 43% more than the payment most buyers budget for.
Compare Albany County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Laramie against Albany County and Wyoming
| Measure | Laramie | Albany County |
|---|---|---|
| Median home value | $302,200 | $322,100 |
| Median property tax | $1,779 | $1,846 |
| Effective tax rate | 0.589% | 0.573% |
| Median gross rent | $933 | $936 |
| Population | 31,848 | 37,713 |
The weather behind that power bill
Laramie sits in Albany County, which averages a high of 81.1°F in its hottest month and a low of 10.2°F in its coldest, with 10.52" of precipitation a year and 44% of it in a single three-month stretch. That climate drives 85 cooling and 8,677 heating degree days, which is what sets the $125 electricity line above.
See the full climate breakdown for Albany County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Albany County
No other places of this size are published in Albany County.
Talk to someone who works this market
These are Laramie averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Laramie every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Laramie I already own here and may sell
Common questions
How much does it cost to own a home in Laramie?
A $302,000 home in Laramie, Wyoming costs approximately $2,348 per month with 20% down at 7.24%. That is $1,646 principal and interest, $148 property tax, $109 homeowners insurance, $193 utilities and $252 set aside for maintenance.
What is the property tax rate in Laramie?
Laramie has an effective property tax rate of 0.589%, based on a median home value of $302,200 and median real estate taxes of $1,779. That is higher than the Albany County average of 0.573%.
What is the average home price in Laramie?
The median owner-occupied home value in Laramie, Wyoming is $302,200, against $322,100 across Albany County.
Is it cheaper to rent or buy in Laramie?
Median gross rent in Laramie is $933 a month, against $2,348 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Laramie?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Laramie, Wyoming at today's rate takes a household income of roughly $100,500 a year. That covers the full $2,348 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Laramie, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for Wyoming.
- Electricity price, EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate, Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.