Cheyenne Wyoming Residential Rent and Rental Statistics
The median monthly gross residential rent in Cheyenne, WY (the Cheyenne metro area) was $841 in 2019 according to the Census ACS survey.1 Average gross rent in Cheyenne was $900 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Cheyenne median and average rent data will be released in September of 2021.
Data is also available below for Cheyenne rental vacancy rates, Cheyenne rent as a percent of median income and the fraction of renters in Cheyenne.
Real Gross Rent in Cheyenne Wyoming (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Wyoming Median Gross Rent | $822 | -1.32% | -6.59% |
| Cheyenne, WY Median Gross Rent | $841 | -7.48% | -14.18% |
Cheyenne, WY Real Gross Rent Trends
Median gross rent for Cheyenne peaked in real terms in 2015 at $982 and is now $141 (14.36%) lower. Average gross rent for Cheyenne peaked in real terms in 2015 at $1,040 and is now $140 (13.46%) lower.
Real Gross Rent in Cheyenne: Cheyenne WY Median, Cheyenne WY Average, Wyoming Median, US Median
Real Gross Rent History for Cheyenne
| Date | US Median |
Wyoming Median |
Cheyenne, WY Median |
Cheyenne, WY Average |
|---|---|---|---|---|
| 2019 | $1,097 | $822 | $841 | $900 |
| 2018 | $1,077 | $833 | $909 | $922 |
| 2017 | $1,043 | $858 | $980 | $950 |
| 2016 | $1,027 | $880 | $980 | $1,008 |
| 2015 | $1,017 | $865 | $982 | $1,040 |
| 2014 | $986 | $836 | $880 | $918 |
| 2013 | $953 | $821 | $830 | $860 |
| 2012 | $940 | $789 | $812 | $804 |
| 2011 | $941 | $820 | $865 | $853 |
| 2010 | $955 | $774 | $717 | $692 |
| 2009 | $960 | $798 | $801 | $769 |
| 2007 | $927 | $747 | $764 | $781 |
| 2005 | $910 | $671 | $724 | $733 |
Cheyenne Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2018 the rental vacancy rate for Cheyenne Wyoming was 4.50% according to Census ACS data.
Rental Vacancy Rate in Cheyenne Wyoming
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Wyoming | 12.85% | +0.67% | +2.02% |
| Cheyenne, WY | — | — | — |
Trends in Cheyenne, WY Rental Vacancy Rate
The rental vacancy rate in Cheyenne peaked in 2008 at 16.19%. Since then it has fallen by 11.69% to 4.50%. Data records for this series originated in 2005.
Rental Vacancy Rate: Cheyenne WY, Wyoming, US
Historical Rental Vacancy Rate data for Cheyenne
| Date | US | Wyoming | Cheyenne, WY |
|---|---|---|---|
| 2019 | 5.97% | 12.85% | — |
| 2018 | 6.15% | 12.18% | 4.50% |
| 2017 | 6.18% | 16.11% | 11.69% |
| 2016 | 5.89% | 10.83% | — |
| 2015 | 5.85% | 9.97% | 4.55% |
| 2014 | 6.32% | 6.92% | 5.53% |
| 2013 | 6.49% | 8.15% | — |
| 2012 | 6.77% | 8.13% | 9.63% |
| 2011 | 7.40% | 9.05% | — |
| 2010 | 8.17% | 6.36% | — |
| 2009 | 8.43% | 7.03% | 5.39% |
| 2007 | 7.87% | 5.25% | 8.89% |
| 2005 | 7.74% | 3.87% | — |
Rent as a Fraction of Income
Using median household income data for Cheyenne, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Cheyenne, median monthly gross rent as a fraction of median household income was 14.30% in 2019 according to the ACS.
Cheyenne Wyoming Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Wyoming | 15.17% | -0.76% | -1.66% |
| Cheyenne, WY | 14.30% | -2.36% | -3.75% |
Trends in Cheyenne, WY Rent as a Fraction of Income
The fraction of median Cheyenne household income required to pay median monthly gross rent peaked in 2017 (relative to the 2005 series origin) at 18.40%. Since then it has fallen by 4.10% to 14.30%.
Fraction of Income towards Rent: Cheyenne WY, Wyoming, US
Historical Data for Annual Rent as a Fraction of Income in Cheyenne Wyoming
| Date | US | Wyoming | Cheyenne, WY |
|---|---|---|---|
| 2019 | 20.03% | 15.17% | 14.30% |
| 2018 | 20.50% | 15.94% | 16.66% |
| 2017 | 20.13% | 16.52% | 18.40% |
| 2016 | 20.43% | 16.83% | 18.05% |
| 2015 | 20.63% | 16.24% | 18.34% |
| 2014 | 20.89% | 16.66% | 17.39% |
| 2013 | 20.78% | 15.93% | 15.34% |
| 2012 | 20.65% | 16.22% | 16.90% |
| 2011 | 20.70% | 16.17% | 17.78% |
| 2010 | 20.50% | 15.54% | 15.79% |
| 2009 | 20.12% | 15.95% | 16.96% |
| 2007 | 18.66% | 14.75% | 14.85% |
| 2005 | 18.89% | 13.95% | 15.51% |
Renter Fraction in Cheyenne Wyoming
You can calculate the renter fraction in Cheyenne in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Cheyenne as a fraction of total Cheyenne households. In 2019 31.84% of households were renters according to Census ACS data.
Cheyenne Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Wyoming | 28.12% | -1.60% | -3.06% |
| Cheyenne, WY | 31.84% | +3.65% | -0.10% |
Trends in the Cheyenne, WY Renter Fraction
The Cheyenne household renter fraction peaked in in 2015 at 34.64% and is now 2.80% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Cheyenne WY, Wyoming, US
History of Cheyenne Renter Fraction
| Date | US | Wyoming | Cheyenne, WY |
|---|---|---|---|
| 2019 | 35.89% | 28.12% | 31.84% |
| 2018 | 36.05% | 29.72% | 28.19% |
| 2017 | 36.13% | 29.23% | 28.33% |
| 2016 | 36.88% | 31.18% | 31.94% |
| 2015 | 36.97% | 32.04% | 34.64% |
| 2014 | 36.90% | 33.10% | 32.04% |
| 2013 | 36.50% | 30.94% | 31.58% |
| 2012 | 36.09% | 30.95% | 32.57% |
| 2011 | 35.42% | 29.35% | 31.74% |
| 2010 | 34.65% | 30.31% | 33.26% |
| 2009 | 34.13% | 29.08% | 30.99% |
| 2007 | 32.80% | 30.74% | 31.14% |
| 2005 | 33.10% | 28.51% | 26.12% |
1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability. ↩
2. Real dollars are calculated using the CPI-U less shelter series. ↩
3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied. ↩
