Rent to own Homes in Laramie, WY
Laramie is the kind of place that brings beautiful nature in close connection with quality living. With a population of approximately 30,000 people, many residents find Laramie offers close-knit community living without the hassle and congestion of a big city. Residents are proud of the fact that despite Laramie's smaller size, it still boasts plenty of educational opportunities, great cultural activities, and excellent dining options.
Laramie, WY is a great place for affordable rent-to-own homes! With a median household income of over $47,463 and a median rent of $824, the Laramie, WY rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Laramie, WY. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
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82071 rent to own homesBuying a Home in Laramie, WY
Laramie, WY is seeing rapid growth and Laramie, WY's' housing market remains not optimal with an average home price that is 4% above the 2024 national average. Laramie, WY is part of Albany county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2024 for county Albany is 0.65% which is below the national average, which is 0.99%.
Median Home Price in Laramie, WY
Median Rent in Laramie, WY
Top 5 Reasons to Live in Laramie, WY
Majestic nature! With Laramie conveniently located in beautiful Wyoming, outdoor lovers will never be disappointed. There are great national parks, like Yosemite and the Grand Tetons, just a quick drive away. These parks offer plenty of hiking, skiing, rock climbing and cycling to enjoy. For hunters and fishers, Laramie also offers a plethora of options, with clean rivers and huge expanses of unspoiled natural beauty full of plenty of wildlife. Almost anywhere you choose to buy a home in Laramie, you'll find a quick connection to nature, including great local parks like La Bonte Park.
Appreciating the arts! Laramie is home to a fine arts museum located at the University of Wyoming, featuring a wide range of art all the way from 18th-century Japanese Ukiyo-e paintings to contemporary American photography. Of course, the people of Laramie also like to enjoy their art in the beautiful outdoors, which is why the Laramie Parks Association routinely hosts Arts in the Park events where people can come and enjoy local crafts, fine art, and plenty of tasty food. Many people who are looking for a house for sale in Laramie find they love the vibrant arts scene.
Downtown living! Residents of Laramie enjoy their scenic downtown neighborhood, which has a small town Americana feel to it, plenty of historic buildings, and great places to eat. Try Prairie Rose cafe for a great cup of coffee and a slice of homemade pie, or enjoy a thick slice of steak and a local craft brew at Altitude Chophouse and Brewery. Annual cultural events also help bind the town together, with street fairs, parades and rodeos adding a bit of local flair to life in Laramie.
Great spot for both renters and homeowners! Laramie is very evenly split between homeowners and renters, with 51 percent of the homes occupied by a renter and 48 percent occupied by an owner. Many people in Laramie also choose rent to own, giving them more flexibility in terms of paying down their home. No matter how you choose to live, you'll find that Laramie has a strong local economy, with plenty of people choosing to work at the University of Wyoming, one of the largest employers in Laramie. You may also find employment at one of the smaller local establishments, such as the Laramie Plains Museum.
Low taxes all around! Demand for Laramie real estate has grown 6.4 percent in 2013, underlining the popularity of homes for sale and for rent here. Many of the homes in Laramie are selling above their list price as well. Part of this strength is related to the strong economy offered by Wyoming and the fact that Wyoming is a very low tax state. In fact, real estate taxes in Wyoming are some of the lowest in the country, with no tax on the sale of real estate and very low property tax rates, helping residents keep money in their pockets. You can use this extra cash to see a movie at Wyo Theatre or catch a play at University of Wyoming Fine Arts Performing Center.