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City Report · WY

Cheyenne

Pop. 65,239·1st most expensive in Wyoming·Rental market data updated monthly for Cheyenne, WY
Median rent (all units)
$1,494/mo
Year-over-Year
+0.7%
Month-over-Month
+1.5%
vs US Median
-$471
Rising (Monthly)
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Most AffordableMost Expensive
Cheyenne · $1,494
More affordable than 76% of US cities · National median $1,965/mo
Rent Reality Score
47/100
Fairly priced
OverheatedFairGreat value

Rents are right about where Cheyenne's 10-year trend predicts.

Actual rent
$1,494/mo
Expected by trend
$1,472/mo
The Rent Reality Score compares today's median rent to where Cheyenne's own long-run trajectory projects it should be. See the full rankings →
Medians by bedroom

Rent by unit size

Studio
$790
1 BR
$913
2 BR
$1,150
3 BR
$1,613
4 BR+
$1,930
Research median
$1,150/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$17,928/yr
At $1,494/mo median
Rent Market Meter
Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are climbing (0.7% YoY), so leverage tilts toward landlords. Act sooner rather than later.
Based on rent-price momentum (+0.7% YoY, +1.5% MoM), not inventory.
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Demographics

Who lives here

Cheyenne, WY is majority owner-occupied, 33.6% of residents hold a bachelor's degree or higher.

Population
65,239
Median income
$78,839
Median age
38.9
Renters
32.9%
Age distribution
20.7%
24.8%
24.1%
12.3%
18.2%
Under 1820.7%
18–3424.8%
35–5424.1%
55–6412.3%
65+18.2%
Gender
49.8%
50.2%
Male49.8%
Female50.2%
Race & ethnicity
79.8%
16.8%
White79.8%
Black2.8%
Hispanic16.8%
Asian1.2%
Education (25+)
24.2%
38%
33.6%
No HS diploma4.3%
HS diploma24.2%
Some college38%
Bachelor's+33.6%
Housing tenure
67.1%
32.9%
Owner67.1%
Renter32.9%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Cheyenne, WY has changed in 5 years

Rent
$1,108 → $1,494
up 34.8%
Income
$70,705 → $78,839
up 11.5%
Population
64,610 → 65,239
up 1.0%
Renter share
30.9% → 32.9%
+2.0 pts
Bachelor's+
31.5% → 33.6%
+2.1 pts
Median age
38 → 38.9
+0.9 yrs

Across the past five years, the going rent in Cheyenne, WY has shifted from $1,108 to $1,494, up 34.8% 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.

Community

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View Cheyenne rent history (2015–2026) →
Salary vs rent

Can you afford rent in Cheyenne on your salary?

At $1,494/mo, how Cheyenne rent compares to typical pay (30% rule).

By apartment size

Cheyenne rent by bedroom count

Median rent for each apartment size in Cheyenne. Click any size for full breakdown.

Local insights

Tips for renters in Cheyenne

About renting in Cheyenne, WY

Last updated: July 20, 2026

The median rent in Cheyenne is $1,494/mo as of July 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 0.7% over the past year.

FAQ

Frequently asked questions

Is Cheyenne an affordable city for renters?

Cheyenne is considered very affordable for renters. At $1,494/mo, rent takes approximately 23% of the local median household income ($78,839/yr). The standard benchmark is 30%. Cheyenne falls comfortably within that range.

How much income do you need to rent in Cheyenne?

To keep rent at or below 30% of gross income, you would need to earn at least $60,000/year (~$29/hour full-time) to afford the median rent of $1,494/mo in Cheyenne. The local median household income is $78,839/yr, meaning the typical Cheyenne household meets that threshold.

Is rent going up or down in Cheyenne?

Rent in Cheyenne has increased 0.7% over the past year as of July 2026, putting upward pressure on renter budgets.

Which Cheyenne neighborhoods have the lowest rent?

The most affordable ZIP codes in Cheyenne are 82001 ($1,395/mo), 82007 ($1,522/mo), and 82009 ($1,669/mo). Citywide, the median rent in Cheyenne is $1,494/mo.

How does Cheyenne rent compare to other cities in Wyoming?

Cheyenne is one of the pricier cities in Wyoming for rent, ranking #1 out of 9 tracked cities at $1,494/mo.

What percentage of Cheyenne residents rent vs. own?

According to Census data, approximately 32.9% of Cheyenne households are renters, while 67.1% are owner-occupied. Cheyenne leans toward homeownership, which can mean a smaller rental inventory.

How does Cheyenne rent compare to the national average?

Cheyenne's median rent of $1,494/mo is $471 (24%) below the US national median of $1,965/mo. Within Wyoming, it ranks #1 out of 9 tracked cities.
Income Affordability
23%
VERY AFFORDABLE

At $1,494/mo, rent takes ~23% of Cheyenne's median household income ($78,839/yr). The standard benchmark is 30%.

Cheyenne 23%Benchmark 30%
State income taxNone
Run the Cheyenne affordability calculator →
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Cheyenne, WY

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