CALCMONEY // HOME AFFORDABILITY // WY // LARAMIE
How much house can you afford in Laramie? Based on local median home prices, current WY mortgage rates, and Laramie property tax data.
$310,000
$1,931/mo
$82,756/yr
$200,922
Monthly housing costs of $1,931 represent 40.0% of Laramie's median gross monthly income ($4,833/mo). At 40.0%, median-income buyers in Laramie are significantly stretched — well above the 28% guideline. A larger down payment or higher income is required.
| Median Home Price | $310,000 |
| Down Payment (20%) | $62,000 |
| Loan Amount | $248,000 |
| Monthly PI Payment | $1,642 |
| Monthly Property Tax | $160 |
| Monthly Insurance Est. | $129 |
| Total Monthly PITI | $1,931 |
| Housing Cost % of Income | 40.0% |
| Required Income (28% rule) | $82,756/yr |
| Max Affordable Home | $200,922 |
$10,850
$2,481/mo
Laramie Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $310,000 | Laramie city median |
| Down Payment (20%) | $62,000 | Conventional loan |
| Monthly PITI | $1,931 | 6.95% rate, 30yr fixed |
| Required Income (28% rule) | $82,756 | Annual gross |
| Max Affordable Home | $200,922 | Based on median income |
| FHA Down (3.5%) | $10,850 | Minimum FHA |
| Housing Cost % of Income | 40.0% | Median income: $58,000/yr |
| Property Tax Rate | 0.62% | $1,922/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Laramie is $310,000, with a local 30-year mortgage rate of 6.95%. A buyer putting 20% down carries a loan of $248,000, generating a monthly P&I payment of $1,642. Adding property taxes ($160/mo) and homeowners insurance ($129/mo) brings total monthly PITI to $1,931.
Laramie's property tax rate of 0.62% is among the lower rates in the country, which improves overall affordability by keeping total PITI closer to the principal and interest payment alone. On the Laramie median home, that is $160/month, or $1,922 per year.
Wyoming has no state income tax, improving effective take-home pay for Laramie residents and giving buyers additional capacity relative to equally-priced homes in high-tax states.
Using the 28% rule, a household earning Laramie's median income of $58,000/year can afford up to $1,353/month in total housing costs. Based on Laramie's mortgage rate of 6.95% and property tax rate of 0.62%, that translates to a maximum affordable home price of approximately $200,922 with 20% down on a 30-year loan.
To afford the median Laramie home priced at $310,000, you need an annual gross income of approximately $82,756. Total monthly housing costs (principal and interest of $1,642, property taxes of $160, and insurance of $129) come to $1,931/month, which equals 28% of the required income.
At the median home price of $310,000 and median household income of $58,000, the total monthly housing cost of $1,931 represents 40.0% of gross monthly income. This is well above the standard 28% threshold, making Laramie a challenging market for buyers at median income.
A conventional 20% down payment on the median Laramie home of $310,000 is $62,000. An FHA loan requires just 3.5% down — $10,850 — but adds mortgage insurance of roughly $212/month, bringing total FHA payments to $2,481/month.
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