Is it cheaper to live in Laramie or Missoula?

Laramie, WY is cheaper. Its monthly baseline of $890 (1BR rent + utilities) runs about 19% below Missoula, MT's $1,100, mainly because of rent.

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

To keep rent near the recommended 30% of gross income, you'd want to earn roughly $29,000 a year in Laramie versus $38,000 in Missoula.

Which has lower taxes, Laramie or Missoula?

Laramie is taxed under Wyoming's rules (no state income tax and a 4% state sales tax); Missoula under Montana's (a top state income tax rate of 5.65% and no state sales tax).

Laramie vs Missoula Cost of Living 2026

Laramie

Wyoming

$890/mo est.

Missoula

Montana

$1,100/mo est.

Monthly estimate = 1BR rent + electricity + gas

A one-person monthly baseline (1BR rent plus typical utilities) runs $890 in Laramie, WY versus $1,100 in Missoula, MT. Overall, Laramie, WY is roughly 19% cheaper to live in day-to-day than Missoula, MT, driven mainly by rent.

Median household income is $52,414 in Laramie, WY and $65,329 in Missoula, MT — about 20% higher in Missoula, MT. Wyoming has no state income tax and a 4% state sales tax; Montana has a top state income tax rate of 5.65% and no state sales tax.

Laramie, WY

Missoula, MT

Rent

Studio

$667

$755

+13% in Missoula, MT

1 Bedroom

$728

$953

+31% in Missoula, MT

2 Bedroom

$883

$1,176

+33% in Missoula, MT

3 Bedroom

$1,423

$1,676

+18% in Missoula, MT

Buying a Home

Median Home Value

$302,200

$427,400

+41% in Missoula, MT

Income

Median Household Income

$52,414

$65,329

+25% in Missoula, MT

Metro Median Wage (annual)

—

$47,830

People & Lifestyle

Median Age

26.9 yr

34.3 yr

+7.4 yr in Missoula, MT

Homeownership

44.1%

47.8%

+3.7 pp in Missoula, MT

Bachelor's+ (25+)

55.8%

51.7%

+4.1 pp in Laramie, WY

Avg Commute

13.5 min

16.6 min

+3.1 min in Missoula, MT

Crime (per 100k/yr)

Violent Crime

129.6

601.9

+364% in Missoula, MT

Property Crime

1,175.9

3,685.2

+213% in Missoula, MT

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

Climate

Avg Annual Temperature

41.0°F

45.9°F

+4.9°F in Missoula, MT

Annual Precipitation

10.9 in

14.1 in

+3.2 in in Missoula, MT

Gas

Regular Gasoline

$4.27/gal

about equal

Area: Rocky Mountain (PADD 4) vs Rocky Mountain (PADD 4).

Utilities

Electricity (¢/kWh)

15.2

15.1

+1% in Laramie, WY

Natural Gas ($/MCF)

$18.28

$10.12

+45% in Laramie, WY

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

Groceries

Milk (gal)

$4.82

about equal

Bread (lb)

$2.04

about equal

Eggs (doz)

$2.19

about equal

Ground Beef (lb)

$7.36

about equal

Chicken (lb)

$2.01

about equal

Bananas (lb)

$0.70

about equal

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

State Taxes

Sales Tax (WY / MT)

None

+4.0 pp in WY

Income Tax (top rate)

None

5.65%

+5.7 pp in MT

Laramie vs Missoula — FAQ

Is it cheaper to live in Laramie or Missoula?: Laramie, WY is cheaper. Its monthly baseline of $890 (1BR rent + utilities) runs about 19% below Missoula, MT's $1,100, mainly because of rent.
How much more do you need to earn to live in Laramie than in Missoula?: To keep rent near the recommended 30% of gross income, you'd want to earn roughly $29,000 a year in Laramie versus $38,000 in Missoula.
Which has lower taxes, Laramie or Missoula?: Laramie is taxed under Wyoming's rules (no state income tax and a 4% state sales tax); Missoula under Montana's (a top state income tax rate of 5.65% and no 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).