See How Cheyenne Rent Prices Have Exploded Over the Last 15 Years
As someone who doesn't like to spend more than $10 on anything, rent in Cheyenne is crazy. OK, even if I'm not in my weird old man-mode, rent in Cheyenne is high. Looking back over the last 15 years we can see how much the price of housing in Cheyenne has exploded.
The folks at Rentdata crunched the numbers and found the average rent for a two-bedroom in Cheyenne in 2021 is $945. While that is about $100 less than the average in 2020, it is still more expensive than 87% of Wyoming.
In the ancient times of 2006, the average rent on a two-bedroom in Chey-town was $636. Five years later, in 2011, it had grown to $758. By 2016 it was $812 a month, then by 2020, the price of a two-bedroom had ballooned to $1005.
That's not as bad as our friends to the south have it. In Fort Collins, the average rent on a one-bedroom cost $770 in 2011, and by 2021 it was $1,180.
2021 average rent in the Cheyenne area:
- Studio / Efficiency $ 737
- 1-Bedroom $ 742
- 2-Bedroom $ 945
- 3-Bedroom $ 1352
- 4-Bedroom $ 1636
2006 average rent in the Cheyenne area:
- Studio / Efficiency $ 474
- 1-Bedroom $ 508
- 2-Bedroom $ 636
- 3-Bedroom $ 908
- 4-Bedroom $ 1116
The National Low Income Housing Collation (NLIHC) reports that in Wyoming, the 2021 Fair Market Rent for a two-bedroom apartment is $876. Fair Market Rent is the government's "...best estimate of what a household seeking a modest rental home in a short amount of time can expect to pay for rent and utilities in the current market."
According to the NLIHC, a person in Cheyenne would need to make $17.06 an hour to afford Fair Market Rent.
The average hourly pay in Chyenne is in the $16 to $17 range. There is a lot of variety in the average, from the minimum wage of $7.25 up to $29 for some professions.
According to Salary.com the cost of living in Cheyenne is 2.1% higher than the national average. Salary.com explains that the cost of living is the, "...estimated amount that represents the cost of the basic necessities required for an individual to live." They say that the estimate includes things like, "housing, food, energy, medical care, transportation, taxes, and other necessities."
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