Laramie County Wyoming Residential Rent and Rental Statistics
The median monthly gross residential rent in Laramie County WY was $841 in 2019 according to the Census ACS survey.1 Average gross rent in Laramie County was $900 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Laramie County median and average rent data will be released in September of 2021.
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.
Real Gross Rent in Laramie County Wyoming (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Wyoming Median Gross Rent | $822 | -1.32% | -6.59% |
| Laramie County WY Median Gross Rent | $841 | -7.48% | -14.18% |
Laramie County WY Real Gross Rent Trends
Median gross rent for Laramie County peaked in real terms in 2015 at $982 and is now $141 (14.36%) lower. Average gross rent for Laramie County peaked in real terms in 2015 at $1,040 and is now $140 (13.46%) lower.
Real Gross Rent: Laramie County WY Median, Laramie County WY Average, Wyoming Median, US Median
Real Gross Rent History for Laramie County
| Date | US Median |
Wyoming Median |
Laramie County WY Median |
Laramie County WY Average |
|---|---|---|---|---|
| 2019 | $1,097 | $822 | $841 | $900 |
| 2018 | $1,077 | $833 | $909 | $922 |
| 2017 | $1,043 | $858 | $980 | $950 |
| 2016 | $1,027 | $880 | $980 | $1,008 |
| 2015 | $1,017 | $865 | $982 | $1,040 |
| 2014 | $986 | $836 | $880 | $918 |
| 2013 | $953 | $821 | $830 | $860 |
| 2012 | $940 | $789 | $812 | $804 |
| 2011 | $941 | $820 | $865 | $853 |
| 2010 | $955 | $774 | $717 | $692 |
| 2009 | $960 | $798 | $801 | $769 |
| 2007 | $927 | $747 | $764 | $781 |
| 2005 | $910 | $671 | $724 | $733 |
Laramie County Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2018 the rental vacancy rate for Laramie County Wyoming was 4.50% according to Census ACS data.
Rental Vacancy Rate in Laramie County Wyoming
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Wyoming | 12.85% | +0.67% | +2.02% |
| Laramie County WY | — | — | — |
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 11.69% to 4.50%. Data records for this series originated in 2005.
Rental Vacancy Rate: Laramie County WY, Wyoming, US
Historical Rental Vacancy Rate data for Laramie County
| Date | US | Wyoming | Laramie County WY |
|---|---|---|---|
| 2019 | 5.97% | 12.85% | — |
| 2018 | 6.15% | 12.18% | 4.50% |
| 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% |
| 2007 | 7.87% | 5.25% | 8.89% |
| 2005 | 7.74% | 3.87% | — |
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 14.30% in 2019 according to the ACS.
Laramie County Wyoming Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Wyoming | 15.17% | -0.76% | -1.66% |
| Laramie County WY | 14.30% | -2.36% | -3.75% |
Trends in Laramie County WY Rent as a Fraction of Income
The fraction of median Laramie County household income required to pay median monthly gross rent peaked in 2017 (relative to the 2005 series origin) at 18.40%. Since then it has fallen by 4.10% to 14.30%.
Fraction of Income towards Rent: Laramie County WY, Wyoming, US
Historical Data for Annual Rent as a Fraction of Income in Laramie County Wyoming
| Date | US | Wyoming | Laramie County WY |
|---|---|---|---|
| 2019 | 20.03% | 15.17% | 14.30% |
| 2018 | 20.50% | 15.94% | 16.66% |
| 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% |
| 2007 | 18.66% | 14.75% | 14.85% |
| 2005 | 18.89% | 13.95% | 15.51% |
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 2019 31.84% of households were renters according to Census ACS data.
Laramie County Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Wyoming | 28.12% | -1.60% | -3.06% |
| Laramie County WY | 31.84% | +3.65% | -0.10% |
Trends in the Laramie County WY Renter Fraction
The Laramie County household renter fraction peaked in in 2015 at 34.64% and is now 2.80% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Laramie County WY, Wyoming, US
History of Laramie County Renter Fraction
| Date | US | Wyoming | Laramie County WY |
|---|---|---|---|
| 2019 | 35.89% | 28.12% | 31.84% |
| 2018 | 36.05% | 29.72% | 28.19% |
| 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% |
| 2007 | 32.80% | 30.74% | 31.14% |
| 2005 | 33.10% | 28.51% | 26.12% |
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. ↩
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