Is It Worth Buying a Home in Cheyenne, WY?
The decision to rent or buy in Cheyenne, Wyoming depends on how long you plan to stay, your down payment, and current mortgage rates. With a median home price of $335,000 and median monthly rent of $1,450, the math plays out differently depending on your personal situation.
Cheyenne has an average property tax rate of 0.57% annually, which adds approximately $159/month to the cost of homeownership on a median-priced home.
Historically, home values in Cheyenne have appreciated at roughly 2.5% per year, which works in favor of buyers who plan to stay long-term. Use the calculator above to find your personal break-even point.
Key Factors for Cheyenne Buyers
- Down payment of 20% on a median home = $67,000
- Monthly mortgage (30yr at 6.99%) ≈ $1,781/mo
- Property tax ≈ $159/mo
- Estimated maintenance ≈ $279/mo