Department of Numbers

Cheyenne Wyoming Residential Rent and Rental Statistics

The median monthly gross residential rent in Cheyenne, WY (the Cheyenne metro area) was $950 in 2017 according to the Census ACS survey.1 Average gross rent in Cheyenne was $921 in 2017. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2018 Cheyenne median and average rent data will be released in September of 2019.

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.

Show dollars as: Nominal Real

Real Gross Rent in Cheyenne Wyoming (2017 dollars)2

2017 1 Year Change 3 Year Change
US Median Gross Rent $1,012 +1.61% +5.86%
Wyoming Median Gross Rent $832 -2.46% +2.59%
Cheyenne, WY Median Gross Rent $950 -0.11% +11.24%

Cheyenne, WY Real Gross Rent Trends

Median gross rent for Cheyenne peaked in real terms in 2015 at $953 and is now $3 (0.31%) lower. Average gross rent for Cheyenne peaked in real terms in 2015 at $1,008 and is now $87 (8.63%) lower.

Real Gross Rent in Cheyenne: Cheyenne WY Median, Cheyenne WY Average, Wyoming Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Cheyenne

Date US
Median
Wyoming
Median
Cheyenne, WY
Median
Cheyenne, WY
Average
2017 $1,012 $832 $950 $921
2016 $996 $853 $951 $978
2015 $987 $839 $953 $1,008
2014 $956 $811 $854 $891
2013 $924 $797 $805 $834
2012 $912 $766 $787 $780
2011 $912 $795 $839 $828
2010 $927 $751 $696 $671
2009 $931 $774 $777 $746
2008 $947 $731 $712 $621
2007 $899 $725 $741 $758
2006 $909 $716 $790 $736

Cheyenne Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2017 the rental vacancy rate for Cheyenne Wyoming was 11.69% according to Census ACS data.

Rental Vacancy Rate in Cheyenne Wyoming

2017 1 Year Change 3 Year Change
US 6.18% +0.29% -0.14%
Wyoming 16.11% +5.28% +9.19%
Cheyenne, WY 11.69% +6.16%

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 4.50% to 11.69%. Data records for this series originated in 2005. From a 2015 post peak low of 4.55%, the rental vacancy rate has increased by 7.14%.

Rental Vacancy Rate: Cheyenne WY, Wyoming, US

Rental vacancy rate in Wyoming

Historical Rental Vacancy Rate data for Cheyenne

Date US Wyoming Cheyenne, WY
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%
2008 7.86% 8.05% 16.19%
2007 7.87% 5.25% 8.89%
2006 7.70% 6.09% 11.53%

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 18.40% in 2017 according to the ACS.

Cheyenne Wyoming Median Annual Rent as a Fraction of Median Household Income

2017 1 Year Change 3 Year Change
US 20.13% -0.30% -0.76%
Wyoming 16.52% -0.31% -0.14%
Cheyenne, WY 18.40% +0.35% +1.01%

Trends in Cheyenne, WY Rent as a Fraction of Income

Cheyenne renters paid 18.40% of median household income towards the median monthly gross rent in 2017. This is the highest fraction of median household income going to rent since the series originated in 2005.

Fraction of Income towards Rent: Cheyenne WY, Wyoming, US

Percent of median household income going towards median monthly gross rent in Cheyenne Wyoming

Historical Data for Annual Rent as a Fraction of Income in Cheyenne Wyoming

Date US Wyoming Cheyenne, WY
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%
2008 19.00% 14.34% 13.09%
2007 18.66% 14.75% 14.85%
2006 18.90% 15.21% 15.63%

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 2017 28.33% of households were renters according to Census ACS data.

Cheyenne Fraction of Renters by Household Units

2017 1 Year Change 3 Year Change
US 36.13% -0.75% -0.77%
Wyoming 29.23% -1.95% -3.87%
Cheyenne, WY 28.33% -3.61% -3.71%

Trends in the Cheyenne, WY Renter Fraction

The Cheyenne household renter fraction peaked in in 2015 at 34.64% and is now 6.31% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Cheyenne WY, Wyoming, US

Fraction of renters in Cheyenne

History of Cheyenne Renter Fraction

Date US Wyoming Cheyenne, WY
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%
2008 33.36% 29.91% 28.39%
2007 32.80% 30.74% 31.14%
2006 32.73% 30.48% 30.78%

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.