Living Cost Compare
Albuquerque

New Mexico

$1,040/mo est.

vs
Laramie

Wyoming

$890/mo est.

Monthly estimate = 1BR rent + electricity + gas

A one-person monthly baseline (1BR rent plus typical utilities) runs $1,040 in Albuquerque, NM versus $890 in Laramie, WY. Overall, Laramie, WY is roughly 14% cheaper to live in day-to-day than Albuquerque, NM, driven mainly by rent.

Median household income is $65,604 in Albuquerque, NM and $52,414 in Laramie, WY — about 20% higher in Albuquerque, NM. New Mexico has a top state income tax rate of 5.90% and a 4.875% state sales tax; Wyoming has no state income tax and a 4% state sales tax.

Albuquerque, NM
Laramie, WY

Rent

Studio
$797
$667
+16% in Albuquerque, NM
1 Bedroom
$889
$728
+18% in Albuquerque, NM
2 Bedroom
$1,140
$883
+23% in Albuquerque, NM
3 Bedroom
$1,459
$1,423
+2% in Albuquerque, NM

Buying a Home

Median Home Value
$266,700
$302,200
+13% in Laramie, WY

Income

Median Household Income
$65,604
$52,414
+20% in Albuquerque, NM
Metro Median Wage (annual)
$48,060
—

People & Lifestyle

Median Age
38.7 yr
26.9 yr
+11.8 yr in Albuquerque, NM
Homeownership
61.5%
44.1%
+17.4 pp in Albuquerque, NM
Bachelor's+ (25+)
38.7%
55.8%
+17.1 pp in Laramie, WY
Avg Commute
22.2 min
13.5 min
+8.7 min in Albuquerque, NM

Crime (per 100k/yr)

Violent Crime
1,194.3
129.6
+89% in Albuquerque, NM
Property Crime
4,766.6
1,175.9
+75% in Albuquerque, NM

FBI Crime Data Explorer. Offenses per 100,000 residents per year; agency reporting practices vary, so this is approximate.

Climate

Avg Annual Temperature
57.2°F
41.0°F
+16.2°F in Albuquerque, NM
Annual Precipitation
9.4 in
10.9 in
+1.5 in in Laramie, WY

Gas

Regular Gasoline
$3.62/gal
$4.27/gal
+18% in Laramie, WY

Area: Gulf Coast (PADD 3) vs Rocky Mountain (PADD 4).

Public Transit

Base Fare (one-way)
Free
—

Adult base one-way fare — ABQ RIDE vs — (2026).

Utilities

Electricity (¢/kWh)
15.1
15.2
+1% in Laramie, WY
Natural Gas ($/MCF)
$9.31
$18.28
+96% in Laramie, WY

Residential, state-level averages (EIA). MCF = 1,000 cubic feet.

Groceries

Milk (gal)
$4.82
$4.82
about equal
Bread (lb)
$2.04
$2.04
about equal
Eggs (doz)
$2.19
$2.19
about equal
Ground Beef (lb)
$7.36
$7.36
about equal
Chicken (lb)
$2.01
$2.01
about equal
Bananas (lb)
$0.70
$0.70
about equal

Average prices — West vs West (BLS). Regional where available, otherwise U.S. average.

State Taxes

Sales Tax (NM / WY)
4.875%
4%
+0.9 pp in NM
Income Tax (top rate)
5.90%
None
+5.9 pp in NM

Albuquerque vs Laramie — FAQ

Is it cheaper to live in Albuquerque or Laramie?
Laramie, WY is cheaper. Its monthly baseline of $890 (1BR rent + utilities) runs about 14% below Albuquerque, NM's $1,040, mainly because of rent.
How much more do you need to earn to live in Albuquerque than in Laramie?
To keep rent near the recommended 30% of gross income, you'd want to earn roughly $36,000 a year in Albuquerque versus $29,000 in Laramie.
Which has lower taxes, Albuquerque or Laramie?
Albuquerque is taxed under New Mexico's rules (a top state income tax rate of 5.90% and a 4.875% state sales tax); Laramie under Wyoming's (no state income tax and a 4% state sales tax).

Sources: US Census Bureau, ACS 5-Year (rent, income, home value, demographics); NOAA Climate Normals 1981–2010 (climate); EIA weekly retail (gas); Tax Foundation 2026 (state taxes).