Rents are 3% above what Cheyenne's 10-year trend predicts — running hotter than its own history.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,529 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: October 17, 2026
What the numbers show
January. Asking rents in Cheyenne usually run 0.6% below trend in January and 0.5% above it in September, about $17 a month apart at today's median. Based on 11 years of data.
Rent in Cheyenne is at its highest level since Zillow's records here began in January 2015.
From 2019 to 2024, rent in Cheyenne rose 31.2% while median household income rose 22% ($64,598 to $78,839). Rent outpaced income.
Rent in Cheyenne is 41.4% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent has risen 7 months in a row, and rose in 11 of the last 12 months.
30% of the median household income ($78,839) is $1,971 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($1,930).
The priciest of 3 ZIP codes in Cheyenne, 82009 ($1,864/mo), costs 39% more than the cheapest, 82001 ($1,341/mo).
From Zillow's monthly rent index (ZORI) for Cheyenne. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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Who lives here
Cheyenne, WY is majority owner-occupied, 33.6% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Cheyenne, WY has changed in 5 years
Across the past five years, the going rent in Cheyenne, WY has shifted from $1,132 to $1,529, up 35.1% since 2021. Census figures show median household income at $78,839 today, compared with $70,705 five years earlier. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. Census counts show Cheyenne, WY adding about 629 residents over the five-year window, up 1.0% on net. The renter share has risen from 30.9% to 32.9%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 31.5% to 33.6% across the same window. The combined trend lines point to a market that has changed measurably from where it stood in early 2021.
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At $1,529/mo, how Cheyenne rent compares to typical pay (30% rule).
Cheyenne rent by bedroom count
Median rent for each apartment size in Cheyenne. Click any size for full breakdown.
Tips for renters in Cheyenne
Last updated: October 17, 2026
The median rent in Cheyenne is $1,529/mo as of October 2026. A studio apartment averages $790/mo while a 2-bedroom runs $1,150/mo. One-bedroom apartments average $913/mo and 3-bedroom units go for $1,613/mo.
At 23% of local median household income ($78,839/yr), Cheyenne ranks as affordable compared to the national benchmark of 30%. Rents have increased 6.6% over the past year.
Frequently asked questions
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How does Cheyenne rent compare to other cities in Wyoming?
At $1,529/mo, rent takes ~23% of Cheyenne's median household income ($78,839/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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