Mortgage payment estimates, closing cost breakdowns, and homebuying data for Cheyenne, Wyoming.
Median Home Price
$325K
Population
65K
Avg Monthly Rent
$1,220
Property Tax Rate
0.61% *
* Property tax shown is the Wyoming state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Cheyenne.
Cheyenne vs Wyoming Median
The median home price in Cheyenne is $325,000, which is roughly in line with the Wyoming state median of $340,000.
Mortgage Calculator — Cheyenne, WY
Pre-filled with Cheyenne median home price and Wyoming tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $325K home using Wyoming's 0.61% tax rate and $1,800/yr insurance.
5% Down
$2,447/mo
Down: $16,250
Loan: $309K
P&I: $1,952
Tax: $165
Insurance: $150
PMI: $180
10% Down
$2,335/mo
Down: $32,500
Loan: $293K
P&I: $1,849
Tax: $165
Insurance: $150
PMI: $171
20% Down (No PMI)
$1,959/mo
Down: $65,000
Loan: $260K
P&I: $1,643
Tax: $165
Insurance: $150
Income needed (28% rule): $84K/year with 20% down, $100K/year with 10% down.
Rent vs Buy in Cheyenne
Rent
$1,220/mo
vs
Buy (10% down)
$2,335/mo
Price-to-rent ratio: 22.2 — At a ratio above 20, renting may be more economical in Cheyenne for shorter stays. Buying costs $1,115 more per month than renting, and it typically takes 5-7 years to break even on the transaction costs of buying.
The median home price in Cheyenne is $325,000, roughly in line with the Wyoming state median of $340,000. With a population of 65,132, Cheyenne is a smaller market where home prices tend to be more accessible than in many parts of Wyoming.
Property taxes in Wyoming average 0.61% annually. This low property tax rate is a significant advantage for Cheyenne buyers, keeping your monthly costs well below what you'd pay in higher-tax states. Homeowners insurance in Wyoming runs approximately $1,800 per year. This is within the normal range nationally.
Average rent in Cheyenne is $1,220/month. With a price-to-rent ratio above 20, renting could be more economical in the short term — use our Rent vs Buy calculator to model your specific timeline.
Cheyenne presents moderate affordability. The $325K median puts homeownership within reach for median-income households, though down payment savings and closing costs require planning.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Cheyenne.