Mortgage payment estimates, closing cost breakdowns, and homebuying data for Laramie, Wyoming.
Median Home Price
$295K
Population
33K
Avg Monthly Rent
$1,120
Property Tax Rate
0.61% *
* Property tax shown is the Wyoming state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Laramie.
Laramie vs Wyoming Median
The median home price in Laramie is $295,000, which is 13% below the Wyoming state median of $340,000.
Mortgage Calculator — Laramie, WY
Pre-filled with Laramie median home price and Wyoming tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $295K home using Wyoming's 0.61% tax rate and $1,800/yr insurance.
5% Down
$2,235/mo
Down: $14,750
Loan: $280K
P&I: $1,771
Tax: $150
Insurance: $150
PMI: $163
10% Down
$2,133/mo
Down: $29,500
Loan: $266K
P&I: $1,678
Tax: $150
Insurance: $150
PMI: $155
20% Down (No PMI)
$1,792/mo
Down: $59,000
Loan: $236K
P&I: $1,492
Tax: $150
Insurance: $150
Income needed (28% rule): $77K/year with 20% down, $91K/year with 10% down.
Rent vs Buy in Laramie
Rent
$1,120/mo
vs
Buy (10% down)
$2,133/mo
Price-to-rent ratio: 21.9 — At a ratio above 20, renting may be more economical in Laramie for shorter stays. Buying costs $1,013 more per month than renting, and it typically takes 5-7 years to break even on the transaction costs of buying.
The median home price in Laramie is $295,000, 13% below the Wyoming state median of $340,000. With a population of 32,711, Laramie is a smaller market where home prices tend to be more accessible than in many parts of Wyoming.
Property taxes in Wyoming average 0.61% annually. This low property tax rate is a significant advantage for Laramie buyers, keeping your monthly costs well below what you'd pay in higher-tax states. Homeowners insurance in Wyoming runs approximately $1,800 per year. This is within the normal range nationally.
Average rent in Laramie is $1,120/month. With a price-to-rent ratio above 20, renting could be more economical in the short term — use our Rent vs Buy calculator to model your specific timeline.
Laramie presents moderate affordability. The $295K median puts homeownership within reach for median-income households, though down payment savings and closing costs require planning.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Laramie.