Laramie, WY

Population: 31,767
Average annual home appreciation rate: 6.36%
Total of homes for sale in this market: 9
Median home price: $187,924
Median Rent: $685 per room
Home price range: 41.34% of homes are between $99,001 – $198,000
Median sales price: Still Computing Data
Number of homes: 26
Median foreclosure sales price: Still Computing Data
Foreclosure discount: Still Computing Data
Most common home type: 43.23% of homes are single family detached
Number of vacant homes: 12.62%
Number of renters: 51.32%
Number of owner occupied: 48.68%
Number people living below poverty level: 29.31%
Unemployment rate: 3.60%
Is this area perfect for real estate deals going on right now? There are some great things going on in the Laramie market that could be advantageous for the savvy investor. Even though Laramie is not the highest in appreciation in Wyoming, it’s doing very well overall in comparison to the US as a whole. For instance… 1. Higher renter vs. owner rate. 2. Lower overall home prices 3. Higher than average rental rates. 4. High rate of folks living below poverty level. (Leads to the fact that many of these people can’t afford homes of their own, they have to rent, which means they will need to live in rental properties available in the market.) 5. Multiple vacant (zombie) properties available on the market (great for cash deals with motivated sellers.) There could be some great opportunity in Laramie at this time. As a matter of fact, Laramie is trending up in home appreciation as we speak.

Leave a Reply

Your email address will not be published. Required fields are marked *