Cost of living in Laramie research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Laramie is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Wyoming, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Laramie is 98, with 100 being the average.
The cost of living index in Laramie is 1.0x lower than the national average.
Laramie ranks as the #9 cheapest in Wyoming out of 18.
Laramie ranks as the #2,890 cheapest out of 6,412 in the US.
The median home value in Laramie is $234,500.
The median income in Laramie is $45,299.
According to the most recent data on the cost of living, Laramie has an overall cost of living index of 98, which is 1.0x lower than the national index of 100.
Compared to Wyoming, Laramie has a cost of living index that's 1.1x higher than Wyoming's index of 92.
The standard of living in Laramie ranks as #9 most affordable out of the 18 places we measured in Wyoming. By definition, that implies Laramie ranks as the #9 most expensive place in the Equality State.
For more reading on life in Laramie, check out:
Six factors go into calculating the cost of living index in Laramie. Here is how it fairs on each of the criteria:
The Services index in Laramie is 98.
The Groceries index in Laramie is 104.
The Health index in Laramie is 93.
The Housing index in Laramie is 100.
The Transportation index in Laramie is 84.
The Utilities index in Laramie is 84.
|Living Expense||Laramie||Wyoming||National Average|
Housing swings affordability the most between places in Wyoming, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Laramie is $234,500.
The Median Rent in Laramie is $850.
The Median Income in Laramie is $45,299.
The Home Value To Income in Laramie is 5.2x.
The Rent To Monthly Income in Laramie is 0.23x.
|Median Home Value||$234,500||$237,900||$244,900|
|Home Value To Income||5.2x||3.5x||3.5x|
|Rent To Monthly Income||0.23x||0.15x||0.2x|
The cost of living varies in the cities and towns around Laramie. Here's a quick look at the cost of living in the most populous nearby places:
Cheyenne, WY has a cost of living index of 97, 1.0x Laramie.
Ranchettes, WY has a cost of living index of 119, 1.2x Laramie.