Cheyenne, WY—82009
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 $481,000, with a year-over-year change of 3.3%. This indicates that home prices in Cheyenne, WY are increasing. According to Zillow, the 1-year price projection is -0.5%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $481,000 | 3.3% |
| Single Family | $486,000 | 3.4% |
| Condos | $315,000 | 6.4% |
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 | 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 $1,850, with a year-over-year rent change of 15.6%. Per bedroom, the median rent as of July '25 in Cheyenne, WY is 1-bedrooms: $1,320, 2-bedrooms: $1,280, 3-bedrooms: $2,030, 4-bedrooms: $2,340. The most common rental property sizes in Cheyenne, WY are 2-bedroom and 1-bedroom, accounting for 37.7% and 25.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,900 | $1,850 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,100 | $1,320 |
| 2 Bed Rent | $1,050 | $1,280 |
| 3 Bed Rent | $2,100 | $2,030 |
| 4 Bed Rent | $2,400 | $2,340 |
% 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 44. This is a increase of 6.0% 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 23.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $601,000 | 8.0% |
Listing Count | 252 | 8.0% |
| Listings as % of Homes | 1.3% | 8.0% |
Days on Market | 44 | 6.0% |
Demographics — Cheyenne, WY
As of the latest ACS Survey released in 2023, Cheyenne, WY has a population of 35,400, which has increased by 3.2% over the past 5 years. Cheyenne, WY is a moderately popular place for families, as children make up 22.4% of the population. The area has a moderately educated workforce, with 41.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 35,400 | 3.2% |
% Under 18 | 22.4% | -3.9% |
% Seniors | 22.1% | 16.3% |
% WFH | 10.0% | 122.2% |
% w/ College Degree | 41.3% | 7.6% |
As of the latest ACS Survey released in 2023, Cheyenne, WY is a predominantly white area, with 82.9% of the population identifying as white. The white population has shrunk by 2.8% in the last 5 years. The second most common race or ethnicity in Cheyenne, WY is hispanic, making up 9.0% of the population. Foreign-born residents account for 3.5% of the population in Cheyenne, WY, and this percentage has increased by 66.7% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 82.9% | -2.8% |
% Black | 1.5% | -50.0% |
% Hispanic | 9.0% | 20.0% |
% Asian | 1.5% | 15.4% |
% Foreign Born | 3.5% | 66.7% |
Mortgage and Risk — Cheyenne, WY
According to HUD data as of 2023, there were 983 mortgage originations in Cheyenne, WY, of which 73.0% of loans were conventional mortgages. The average loan-to-value was 58.0%, with 23.0% 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. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 983 |
% Conventional Loans | 73.0% |
% Government Loans | 27.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% 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 10.4%. 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 | 405 |
Total Units Section 8 | 260 |
% Rentals under Section 8 | 10.4% |
% Occupied Section 8 | 97.8% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$210 | $1,100 | $890 |
| 2 Bedroom | $70 | $1,050 | $1,120 |
| 3 Bedroom | -$530 | $2,100 | $1,570 |
| 4 Bedroom | -$520 | $2,400 | $1,880 |
Affordability — Cheyenne, WY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.4 |
| Median Home Price | $481,000 |
| Median Household Income | $103,000 |