Keep in mind when comparing there are many grades of laminate flooring. Some are much less expensive than real wood... However, sometimes you get what you pay for.
I've seen laminate installed that looks absolutely gorgeous... For a few weeks... And then, because it either shrinks or it scratches easily, it starts to become a regrettable choice.
Then there are high quality laminates that are even more resilient than wood, and far easier to install, which saves on labor.