Cheyenne, WY—82001
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Cheyenne, WY
As of Oct '25, the median home price in Cheyenne, WY is $336,000, with a year-over-year change of 3.4%. This indicates that home prices in Cheyenne, WY are increasing. According to Zillow, the 1-year price projection is -0.8%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $336,000 | 3.4% |
| Single Family | $337,000 | 3.7% |
| Condos | $273,000 | 0.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $268,000 | 4.3% |
3 Bed | N/A | N/A |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Cheyenne, WY
As of July '25, Rentcast reports the average rent in Cheyenne, WY is $1,430, with a year-over-year rent change of 4.4%. Per bedroom, the median rent as of July '25 in Cheyenne, WY is studios: $688, 1-bedrooms: $1,040, 2-bedrooms: $1,170, 3-bedrooms: $1,880, 4-bedrooms: $2,230. The most common rental property sizes in Cheyenne, WY are 2-bedroom and 3-bedroom, accounting for 33.4% and 26.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,220 | $1,430 |
| Studio Rent | $625 | $688 |
| 1 Bed Rent | $925 | $1,040 |
| 2 Bed Rent | $1,060 | $1,170 |
| 3 Bed Rent | $1,900 | $1,880 |
| 4 Bed Rent | $2,100 | $2,230 |
% of Rental Stock
Property Listings — Cheyenne, WY
As of Oct '25, Realtor.com reports that the median days on market for a home in Cheyenne, WY is 42. This is a increase of 9.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 19.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $375,000 | 2.0% |
Listing Count | 178 | -8.0% |
| Listings as % of Homes | 0.8% | -8.0% |
Days on Market | 42 | 9.0% |
Demographics — Cheyenne, WY
As of the latest ACS Survey released in 2023, Cheyenne, WY has a population of 38,000, which has increased by 5.0% over the past 5 years. Cheyenne, WY is a moderately popular place for families, as children make up 20.6% of the population. The area has a moderately educated workforce, with 32.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 38,000 | 5.0% |
% Under 18 | 20.6% | -9.3% |
% Seniors | 14.6% | 2.8% |
% WFH | 8.8% | 175.0% |
% w/ College Degree | 32.2% | 14.2% |
As of the latest ACS Survey released in 2023, Cheyenne, WY is a predominantly white area, with 74.7% of the population identifying as white. The white population has shrunk by 6.4% in the last 5 years. The second most common race or ethnicity in Cheyenne, WY is hispanic, making up 16.2% of the population. Foreign-born residents account for 2.5% of the population in Cheyenne, WY, and this percentage has remained stable as of the ACS Survey 5 years prior, suggesting immigration has remained steady.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 74.7% | -6.4% |
% Black | 3.2% | 52.4% |
% Hispanic | 16.2% | 23.7% |
% Asian | 0.9% | -30.8% |
% Foreign Born | 2.5% | 0.0% |
Mortgage and Risk — Cheyenne, WY
According to HUD data as of 2023, there were 951 mortgage originations in Cheyenne, WY, of which 64.0% of loans were conventional mortgages. The average loan-to-value was 61.0%, with 32.0% above 90% LTV (very high). This implies large mortgage risk in Cheyenne, WY. Investor activity is low, as 3.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 951 |
% Conventional Loans | 64.0% |
% Government Loans | 36.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 13.0% |
Loan Activity
Rentals and Section 8 — Cheyenne, WY
As of 2024, the percent of homes in Cheyenne, WY under the Section 8 program is 10.6%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Cheyenne, WY, because HUD payments exceed market rent, while 1-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 822 |
Total Units Section 8 | 685 |
% Rentals under Section 8 | 10.6% |
% Occupied Section 8 | 99.2% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$45 | $925 | $880 |
| 2 Bedroom | $50 | $1,060 | $1,110 |
| 3 Bedroom | -$340 | $1,900 | $1,560 |
| 4 Bedroom | -$240 | $2,100 | $1,860 |
Affordability — Cheyenne, WY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.2 |
| Median Home Price | $336,000 |
| Median Household Income | $74,100 |