Department of Numbers

Laramie County Wyoming Residential Rent and Rental Statistics

The median monthly gross residential rent in Laramie County WY was $950 in 2017 according to the Census ACS survey.1 Average gross rent in Laramie County was $921 in 2017. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2018 Laramie County median and average rent data will be released in September of 2019.

Data is also available below for Laramie County rental vacancy rates, Laramie County rent as a percent of median income and the fraction of renters in Laramie County.

Show dollars as: Nominal Real

Real Gross Rent in Laramie County Wyoming (2017 dollars)2

2017 1 Year Change 3 Year Change
US Median Gross Rent $1,012 +1.61% +5.86%
Wyoming Median Gross Rent $832 -2.46% +2.59%
Laramie County WY Median Gross Rent $950 -0.11% +11.24%

Laramie County WY Real Gross Rent Trends

Median gross rent for Laramie County peaked in real terms in 2015 at $953 and is now $3 (0.31%) lower. Average gross rent for Laramie County peaked in real terms in 2015 at $1,008 and is now $87 (8.63%) lower.

Real Gross Rent: Laramie County WY Median, Laramie County WY Average, Wyoming Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Laramie County

Date US
Median
Wyoming
Median
Laramie County WY
Median
Laramie County WY
Average
2017 $1,012 $832 $950 $921
2016 $996 $853 $951 $978
2015 $987 $839 $953 $1,008
2014 $956 $811 $854 $891
2013 $924 $797 $805 $834
2012 $912 $766 $787 $780
2011 $912 $795 $839 $828
2010 $927 $751 $696 $671
2009 $931 $774 $777 $746
2008 $947 $731 $712 $621
2007 $899 $725 $741 $758
2006 $909 $716 $790 $736

Laramie County Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2017 the rental vacancy rate for Laramie County Wyoming was 11.69% according to Census ACS data.

Rental Vacancy Rate in Laramie County Wyoming

2017 1 Year Change 3 Year Change
US 6.18% +0.29% -0.14%
Wyoming 16.11% +5.28% +9.19%
Laramie County WY 11.69% +6.16%

Trends in Laramie County WY Rental Vacancy Rate

The rental vacancy rate in Laramie County peaked in 2008 at 16.19%. Since then it has fallen by 4.50% to 11.69%. Data records for this series originated in 2005. From a 2015 post peak low of 4.55%, the rental vacancy rate has increased by 7.14%.

Rental Vacancy Rate: Laramie County WY, Wyoming, US

Rental vacancy rate in Wyoming

Historical Rental Vacancy Rate data for Laramie County

Date US Wyoming Laramie County WY
2017 6.18% 16.11% 11.69%
2016 5.89% 10.83%
2015 5.85% 9.97% 4.55%
2014 6.32% 6.92% 5.53%
2013 6.49% 8.15%
2012 6.77% 8.13% 9.63%
2011 7.40% 9.05%
2010 8.17% 6.36%
2009 8.43% 7.03% 5.39%
2008 7.86% 8.05% 16.19%
2007 7.87% 5.25% 8.89%
2006 7.70% 6.09% 11.53%

Rent as a Fraction of Income

Using median household income data for Laramie County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Laramie County, median monthly gross rent as a fraction of median household income was 18.40% in 2017 according to the ACS.

Laramie County Wyoming Median Annual Rent as a Fraction of Median Household Income

2017 1 Year Change 3 Year Change
US 20.13% -0.30% -0.76%
Wyoming 16.52% -0.31% -0.14%
Laramie County WY 18.40% +0.35% +1.01%

Trends in Laramie County WY Rent as a Fraction of Income

Laramie County renters paid 18.40% of median household income towards the median monthly gross rent in 2017. This is the highest fraction of median household income going to rent since the series originated in 2005.

Fraction of Income towards Rent: Laramie County WY, Wyoming, US

Percent of median household income going towards median monthly gross rent in Laramie County Wyoming

Historical Data for Annual Rent as a Fraction of Income in Laramie County Wyoming

Date US Wyoming Laramie County WY
2017 20.13% 16.52% 18.40%
2016 20.43% 16.83% 18.05%
2015 20.63% 16.24% 18.34%
2014 20.89% 16.66% 17.39%
2013 20.78% 15.93% 15.34%
2012 20.65% 16.22% 16.90%
2011 20.70% 16.17% 17.78%
2010 20.50% 15.54% 15.79%
2009 20.12% 15.95% 16.96%
2008 19.00% 14.34% 13.09%
2007 18.66% 14.75% 14.85%
2006 18.90% 15.21% 15.63%

Renter Fraction in Laramie County Wyoming

You can calculate the renter fraction in Laramie County in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Laramie County as a fraction of total Laramie County households. In 2017 28.33% of households were renters according to Census ACS data.

Laramie County Fraction of Renters by Household Units

2017 1 Year Change 3 Year Change
US 36.13% -0.75% -0.77%
Wyoming 29.23% -1.95% -3.87%
Laramie County WY 28.33% -3.61% -3.71%

Trends in the Laramie County WY Renter Fraction

The Laramie County household renter fraction peaked in in 2015 at 34.64% and is now 6.31% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Laramie County WY, Wyoming, US

Fraction of renters in Laramie County

History of Laramie County Renter Fraction

Date US Wyoming Laramie County WY
2017 36.13% 29.23% 28.33%
2016 36.88% 31.18% 31.94%
2015 36.97% 32.04% 34.64%
2014 36.90% 33.10% 32.04%
2013 36.50% 30.94% 31.58%
2012 36.09% 30.95% 32.57%
2011 35.42% 29.35% 31.74%
2010 34.65% 30.31% 33.26%
2009 34.13% 29.08% 30.99%
2008 33.36% 29.91% 28.39%
2007 32.80% 30.74% 31.14%
2006 32.73% 30.48% 30.78%

1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability.

2. Real dollars are calculated using the CPI-U less shelter series.

3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied.