Is it cheaper to live in Laramie or Paterson?

Laramie, WY is cheaper. Its monthly baseline of $890 (1BR rent + utilities) runs about 38% below Paterson, NJ's $1,430, mainly because of rent.

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

To keep rent near the recommended 30% of gross income, you'd want to earn roughly $29,000 a year in Laramie versus $47,000 in Paterson.

Which has lower taxes, Laramie or Paterson?

Laramie is taxed under Wyoming's rules (no state income tax and a 4% state sales tax); Paterson under New Jersey's (a top state income tax rate of 10.75% and a 6.625% state sales tax).

Laramie vs Paterson Cost of Living 2026

Laramie

Wyoming

$890/mo est.

Paterson

New Jersey

$1,430/mo est.

Monthly estimate = 1BR rent + electricity + gas

A one-person monthly baseline (1BR rent plus typical utilities) runs $890 in Laramie, WY versus $1,430 in Paterson, NJ. Overall, Laramie, WY is roughly 38% cheaper to live in day-to-day than Paterson, NJ, driven mainly by rent.

Median household income is $52,414 in Laramie, WY and $53,766 in Paterson, NJ — about 3% higher in Paterson, NJ. Wyoming has no state income tax and a 4% state sales tax; New Jersey has a top state income tax rate of 10.75% and a 6.625% state sales tax.

Laramie, WY

Paterson, NJ

Rent

Studio

$667

$786

+18% in Paterson, NJ

1 Bedroom

$728

$1,183

+63% in Paterson, NJ

2 Bedroom

$883

$1,468

+66% in Paterson, NJ

3 Bedroom

$1,423

$1,729

+22% in Paterson, NJ

Buying a Home

Median Home Value

$302,200

$335,400

+11% in Paterson, NJ

Income

Median Household Income

$52,414

$53,766

+3% in Paterson, NJ

Metro Median Wage (annual)

—

$61,430

People & Lifestyle

Median Age

26.9 yr

33.3 yr

+6.4 yr in Paterson, NJ

Homeownership

44.1%

26.2%

+17.9 pp in Laramie, WY

Bachelor's+ (25+)

55.8%

12.5%

+43.3 pp in Laramie, WY

Avg Commute

13.5 min

23.1 min

+9.6 min in Paterson, NJ

Crime (per 100k/yr)

Violent Crime

129.6

1,010.1

+679% in Paterson, NJ

Property Crime

1,175.9

2,391.4

+103% in Paterson, NJ

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

52.2°F

+11.2°F in Paterson, NJ

Annual Precipitation

10.9 in

49.0 in

+38.1 in in Paterson, NJ

Gas

Regular Gasoline

$4.27/gal

$3.94/gal

+8% in Laramie, WY

Area: Rocky Mountain (PADD 4) vs East Coast (PADD 1).

Utilities

Electricity (¢/kWh)

15.2

24.9

+64% in Paterson, NJ

Natural Gas ($/MCF)

$18.28

$17.68

+3% in Laramie, WY

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

Groceries

Milk (gal)

$4.82

$4.31

+10% in Laramie, WY

Bread (lb)

$2.04

$1.92

+6% in Laramie, WY

Eggs (doz)

$2.19

about equal

Ground Beef (lb)

$7.36

$6.90

+6% in Laramie, WY

Chicken (lb)

$2.01

$2.19

+9% in Paterson, NJ

Bananas (lb)

$0.70

$0.69

about equal

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

State Taxes

Sales Tax (WY / NJ)

6.625%

+2.6 pp in NJ

Income Tax (top rate)

None

10.75%

+10.8 pp in NJ

Laramie vs Paterson — FAQ

Is it cheaper to live in Laramie or Paterson?: Laramie, WY is cheaper. Its monthly baseline of $890 (1BR rent + utilities) runs about 38% below Paterson, NJ's $1,430, mainly because of rent.
How much more do you need to earn to live in Laramie than in Paterson?: To keep rent near the recommended 30% of gross income, you'd want to earn roughly $29,000 a year in Laramie versus $47,000 in Paterson.
Which has lower taxes, Laramie or Paterson?: Laramie is taxed under Wyoming's rules (no state income tax and a 4% state sales tax); Paterson under New Jersey's (a top state income tax rate of 10.75% and a 6.625% 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).