Cheyenne, WY

Below Avg · 86

Wyoming · Population 64,976 · Updated March 2026

$1,035
Median Rent / Month
$77,176
Median Income
$311,200
Median Home Value
$1,276
Owner Costs / Month

Affordability

How far your income goes in Cheyenne

16.1%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Wyoming

State-level tax rates that affect your costs

0%
Income Tax (Top Rate)
4.0%
Sales Tax
0.56%
Property Tax Rate

Estimated Annual Costs

$12,420
Annual Rent
$0
State Income Tax
$1,743
Property Tax (est.)

Cost of Living Overview

Cheyenne offers a below-average cost of living, giving residents more purchasing power compared to many US cities. With a cost index of 86 (where 100 equals the national median), Cheyenne residents can expect to pay median rent of $1,035/month while earning a median household income of $77,176/year.

The median home value in Cheyenne, WY is $311,200, with typical monthly owner costs around $1,276 including mortgage, insurance, and taxes. The median rent-to-income ratio of 16.1% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Wyoming has no state income tax, which can represent significant savings compared to high-tax states. Combined with a 4.0% sales tax rate and 0.56% effective property tax rate, the overall tax environment helps keep costs manageable in Cheyenne.

Frequently Asked Questions

Common questions about living costs in Cheyenne

What is the cost of living in Cheyenne, WY?
The cost of living index in Cheyenne, WY is 86 (US average = 100). Median monthly rent is $1,035, median household income is $77,176/year, and the median home value is $311,200.
Is Cheyenne, WY affordable?
Yes, Cheyenne is more affordable than the national average with a cost index of 86. The rent-to-income ratio is 16.1%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Cheyenne, WY?
The median gross rent in Cheyenne, WY is $1,035 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $12,420.
What is the median household income in Cheyenne?
The median household income in Cheyenne, WY is $77,176 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Wyoming?
Wyoming has a top income tax rate of 0%, a sales tax of 4.0%, and an effective property tax rate of 0.56%. Notably, there is no state income tax.