Laramie 4plexes: Buy a Fourplex and House Hack in Laramie
Laramie is Wyoming's university town, home to the state's only public university at about 7,165 feet of elevation: roughly 32,284 people, median household income of $55,613, and a typical home value of $385,915. The University of Wyoming, the Snowy Range, and the Territorial Prison historic site define the city — and student demand defines its rental market.
Laramie by the Numbers
Laramie is home to about 32,284 people (Census Vintage 2025), the median household earns $55,613, and the typical home value is $385,915. As the smallest city in this batch, its income, rent, and earnings figures below are ACS 2024 5-year estimates, labeled as such in every row. Note the gap: income here is the lowest in Wyoming's top three while value sits near the top, so the rent-to-price comparison below needs a careful read.
| Population | 32,284 (Census Vintage 2025, July 1, 2025) |
|---|---|
| State capital | Cheyenne |
| Median household income | $55,613 (ACS 2024 5-year, B19013) |
| Households earning under $50,000 | 44.4% (ACS 2024 5-year, B19001) |
| Households earning $50,000–$99,999 | 27.3% (ACS 2024 5-year, B19001) |
| Households earning $100,000–$199,999 | 22.5% (ACS 2024 5-year, B19001) |
| Households earning $200,000+ | 5.8% (ACS 2024 5-year, B19001) |
| Median gross rent | $925 per month (ACS 2024 5-year, B25064) |
| Median earnings, all workers 16 and older | $25,641 (ACS 2024 5-year, B20017) |
| Typical home value (ZHVI, September 2026) | $385,915 |
Sources: U.S. Census Bureau, American Community Survey 2024 5-year estimates (tables B19001, B25064, B20017); Zillow Research ZHVI, September 2026.
Weigh the rent against the value: a year of rent at that median ($925 a month) is 2.88% of the typical home value ($385,915). Read that as a rough gauge of the rent-to-price relationship, not income — upkeep, empty months, and taxes all cut into what an owner keeps.
Buying a 4plex in Laramie
Laramie fourplexes concentrate near the university and the downtown historic district around Second Street and Ivinson Avenue, where the 1870 history runs deep — the first women jurors served here, and Louisa Swain cast the first legal vote by a woman in a U.S. general election on September 6, 1870. The Wyoming Territorial Prison State Historic Site and the 'Gem City of the Plains' identity round out a town that is small but nationally distinctive. A typical home value of $385,915 against a median gross rent of $925 a month is the tightest pairing in Wyoming's set, so documented rents and turnover planning matter enormously.
Run the seller's rents, the $925 median, and a stress case that prices in summer turnover gaps between academic years. A Laramie fourplex that only works at full occupancy in May is not a plan; it is a hope.
Buyer Help and Loans in Laramie
Lenders differ on fourplexes, so compare several before deciding. For each, pin down which Loan Types programs they close for 2-4 unit owner-occupied purchases in Wyoming, and which overlays they add beyond the program floor.
Pre-approval through a lender who has closed 2-4 unit owner-occupied purchases is the sensible next step, with FHA, conventional, and — where you qualify — VA compared on the same property. The Loan Types page provides the program facts to bring along, including the 5% minimum down payment set for 2-4 unit conventional and HomeReady/Home Possible deals.
Living in Laramie
Second Street and Ivinson Avenue in downtown Laramie, in the heart of the Laramie Downtown Historic District.
Laramie house hacking works for owners who respect the academic calendar: verify rents, budget for turnover, and buy only when the stress case holds. The university gives the town a durable tenant base; conservative numbers give the owner a durable hold.