Total monthly cost of ownership
Cost to Own a Home in Cheyenne, Wyoming
A $311,000 home here costs
$2,327per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,599. The real number is $728 higher every month — 46% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Cheyenne against Laramie County and Wyoming
| Measure | Cheyenne | Laramie County |
|---|---|---|
| Median home value | $311,200 | $324,900 |
| Median property tax | $1,862 | $1,893 |
| Effective tax rate | 0.598% | 0.583% |
| Median gross rent | $1,035 | $1,080 |
| Population | 64,976 | 100,661 |
The weather behind that power bill
Cheyenne sits in Laramie County, which averages a high of 84.1°F in its hottest month and a low of 18.1°F in its coldest, with 15.41" of precipitation a year and 44% of it in a single three-month stretch. That climate drives 399 cooling and 6,959 heating degree days, which is what sets the $133 electricity line above.
See the full climate breakdown for Laramie County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Laramie County
Full Laramie County cost breakdown · Every county in Wyoming
Common questions
How much does it cost to own a home in Cheyenne?
A $311,000 home in Cheyenne, Wyoming costs approximately $2,327 per month with 20% down at 6.66%. That is $1,599 principal and interest, $155 property tax, $113 homeowners insurance, $201 utilities and $259 set aside for maintenance.
What is the property tax rate in Cheyenne?
Cheyenne has an effective property tax rate of 0.598%, based on a median home value of $311,200 and median real estate taxes of $1,862. That is higher than the Laramie County average of 0.583%.
What is the average home price in Cheyenne?
The median owner-occupied home value in Cheyenne, Wyoming is $311,200, against $324,900 across Laramie County.
Is it cheaper to rent or buy in Cheyenne?
Median gross rent in Cheyenne is $1,035 a month, against $2,327 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Cheyenne — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Wyoming.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.