Is it cheaper to live in Austin or Laramie?

Laramie, WY is cheaper. Its monthly baseline of $890 (1BR rent + utilities) runs about 46% below Austin, TX's $1,660, mainly because of rent.

How much more do you need to earn to live in Austin than in Laramie?

To keep rent near the recommended 30% of gross income, you'd want to earn roughly $58,000 a year in Austin versus $29,000 in Laramie.

Which has lower taxes, Austin or Laramie?

Austin is taxed under Texas's rules (no state income tax and a 6.25% state sales tax); Laramie under Wyoming's (no state income tax and a 4% state sales tax).

Austin vs Laramie Cost of Living 2026

Austin

Texas

$1,660/mo est.

Laramie

Wyoming

$890/mo est.

Monthly estimate = 1BR rent + electricity + gas

A one-person monthly baseline (1BR rent plus typical utilities) runs $1,660 in Austin, TX versus $890 in Laramie, WY. Overall, Laramie, WY is roughly 46% cheaper to live in day-to-day than Austin, TX, driven mainly by rent.

Median household income is $91,461 in Austin, TX and $52,414 in Laramie, WY — about 43% higher in Austin, TX. Texas has no state income tax and a 6.25% state sales tax; Wyoming has no state income tax and a 4% state sales tax.

Austin, TX

Laramie, WY

Rent

Studio

$1,348

$667

+51% in Austin, TX

1 Bedroom

$1,457

$728

+50% in Austin, TX

2 Bedroom

$1,776

$883

+50% in Austin, TX

3 Bedroom

$2,127

$1,423

+33% in Austin, TX

Buying a Home

Median Home Value

$512,700

$302,200

+41% in Austin, TX

Income

Median Household Income

$91,461

$52,414

+43% in Austin, TX

Metro Median Wage (annual)

$56,950

—

People & Lifestyle

Median Age

34.5 yr

26.9 yr

+7.6 yr in Austin, TX

Homeownership

44.4%

44.1%

+0.3 pp in Austin, TX

Bachelor's+ (25+)

58.2%

55.8%

+2.4 pp in Austin, TX

Avg Commute

24.0 min

13.5 min

+10.5 min in Austin, TX

Crime (per 100k/yr)

Violent Crime

476.1

129.6

+73% in Austin, TX

Property Crime

3,290.7

1,175.9

+64% in Austin, TX

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

Climate

Avg Annual Temperature

67.2°F

41.0°F

+26.2°F in Austin, TX

Annual Precipitation

34.9 in

10.9 in

+24.0 in in Austin, TX

Gas

Regular Gasoline

$3.58/gal

$4.27/gal

+19% in Laramie, WY

Area: Texas vs Rocky Mountain (PADD 4).

Public Transit

Base Fare (one-way)

$1.25

—

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

Utilities

Electricity (¢/kWh)

15.9

15.2

+4% in Austin, TX

Natural Gas ($/MCF)

$31.89

$18.28

+43% in Austin, TX

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

Groceries

Milk (gal)

$4.00

$4.82

+20% in Laramie, WY

Bread (lb)

$1.75

$2.04

+17% in Laramie, WY

Eggs (doz)

$2.21

$2.19

+1% in Austin, TX

Ground Beef (lb)

$6.45

$7.36

+14% in Laramie, WY

Chicken (lb)

$1.90

$2.01

+6% in Laramie, WY

Bananas (lb)

$0.62

$0.70

+14% in Laramie, WY

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

State Taxes

Sales Tax (TX / WY)

6.25%

+2.3 pp in TX

Income Tax (top rate)

None

about equal

Austin vs Laramie — FAQ

Is it cheaper to live in Austin or Laramie?: Laramie, WY is cheaper. Its monthly baseline of $890 (1BR rent + utilities) runs about 46% below Austin, TX's $1,660, mainly because of rent.
How much more do you need to earn to live in Austin than in Laramie?: To keep rent near the recommended 30% of gross income, you'd want to earn roughly $58,000 a year in Austin versus $29,000 in Laramie.
Which has lower taxes, Austin or Laramie?: Austin is taxed under Texas's rules (no state income tax and a 6.25% 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).