Cheyenne, WY—82007
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 $314,000, with a year-over-year change of 3.9%. This indicates that home prices in Cheyenne, WY are increasing. According to Zillow, the 1-year price projection is -0.7%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $314,000 | 3.9% |
| Single Family | $314,000 | 4.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $324,000 | 3.5% |
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 5.9%. Per bedroom, the median rent as of July '25 in Cheyenne, WY is 1-bedrooms: $1,090, 2-bedrooms: $1,210, 3-bedrooms: $1,560, 4-bedrooms: $2,080. The most common rental property sizes in Cheyenne, WY are 2-bedroom and 3-bedroom, accounting for 37.2% and 37.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,350 | $1,430 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,000 | $1,090 |
| 2 Bed Rent | $1,170 | $1,210 |
| 3 Bed Rent | $1,450 | $1,560 |
| 4 Bed Rent | $2,000 | $2,080 |
% 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 47. This is a increase of 14.0% 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 16.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $450,000 | 3.0% |
Listing Count | 85 | -18.0% |
| Listings as % of Homes | 0.9% | -18.0% |
Days on Market | 47 | 14.0% |
Demographics — Cheyenne, WY
As of the latest ACS Survey released in 2023, Cheyenne, WY has a population of 21,800, which has increased by 1.7% over the past 5 years. Cheyenne, WY is a popular place for families, as children make up 27.6% of the population. The area has a poorly educated workforce, with 16.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 21,800 | 1.7% |
% Under 18 | 27.6% | 10.0% |
% Seniors | 11.8% | 14.6% |
% WFH | 5.4% | 68.8% |
% w/ College Degree | 16.3% | 18.1% |
As of the latest ACS Survey released in 2023, Cheyenne, WY is a predominantly white area, with 65.7% of the population identifying as white. The white population has grown by 0.9% in the last 5 years. The second most common race or ethnicity in Cheyenne, WY is hispanic, making up 26.6% of the population. Foreign-born residents account for 5.2% of the population in Cheyenne, WY, and this percentage has decreased by 16.1% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 65.7% | 0.9% |
% Black | 2.0% | -4.8% |
% Hispanic | 26.6% | -8.9% |
% Asian | 1.0% | 66.7% |
% Foreign Born | 5.2% | -16.1% |
Mortgage and Risk — Cheyenne, WY
According to HUD data as of 2023, there were 411 mortgage originations in Cheyenne, WY, of which 55.0% of loans were conventional mortgages. The average loan-to-value was 69.0%, with 41.0% above 90% LTV (very high). This implies large mortgage risk in Cheyenne, WY. Investor activity is low, as 4.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 411 |
% Conventional Loans | 55.0% |
% Government Loans | 45.0% |
% Investor Loans | 4.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Cheyenne, WY
As of 2024, the percent of homes in Cheyenne, WY under the Section 8 program is 10.1%. 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 and 3-bedroom and 4-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 units do not.
Section 8 Market Size
Total Units under HUD | 359 |
Total Units Section 8 | 326 |
% Rentals under Section 8 | 10.1% |
% Occupied Section 8 | 100.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$30 | $1,000 | $970 |
| 2 Bedroom | $50 | $1,170 | $1,220 |
| 3 Bedroom | $260 | $1,450 | $1,710 |
| 4 Bedroom | $50 | $2,000 | $2,050 |
Affordability — Cheyenne, WY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.2 |
| Median Home Price | $314,000 |
| Median Household Income | $55,500 |