Cheyenne is the capital and most populous city of Wyoming. So, people who decide to move to this western state will most likely consider moving to Cheyenne. Many experts believe net migration to Wyoming is lower than the number of people leaving. But, things are different in Cheyenne. The city has grown by 1-2% per year for the last ten years. Cheyenne, WY has grown in popularity due to its diverse amenities. Its relaxed lifestyle and recreational opportunities also add to its charm. As a result, there may never be a better time for people to escape the hustle and bustle of city life. Cheyenne stands out as an exceptional place to live with three evident factors. Low taxes, crime rates, and recreational opportunities make the city attractive.
Quick Facts
- The city of Cheyenne came to life on July 4, 1867.
- Cheyenne has an average household income of $81,623 and a poverty rate of 9.09%.
- In recent years, the median rental cost has been $882 per month, with a median house value of $229,100.
- Cheyenne is growing at a rate of 0.86% per year, with a population increase of 1.74%.
- Cheyenne has a population of 66,266 in 2020.
Cheyenne, WY in a Nutshell
Cheyenne is the county seat of Laramie County and one of the few in Wyoming with positive net migration. Since 2010, over 2,800 people have moved to the city. Many experts attribute this sudden boom to the city's continuous economic growth. People who move to Wyoming come from California, Washington, Wisconsin, and Illinois. These are usually young people between the ages of 15 and 24, as well as adults over the age of 45. There are amenities both inside and outside of town. Cheyenne has a Greenway that connects all sides of the city for outdoor enthusiasts. The city has it all for skiers, hikers, bikers, hunters, fishermen, and boaters, all within 100 miles. The Snowy Range or any other Colorado ski area is simple to locate. Trails, hiking, camping, and fishing are all available in Vedauwoo and Curt Gowdy. Glendo Reservoir and Guernsey Reservoir are lovely lakes located north of I-25.
Wyoming may be a place where you can find your perfect job without having to go anywhere else. The state has been attracting people with different education levels, and this trend could continue as statistics show that Wyoming's extractive industry isn't just attractive. There are also opportunities for those seeking higher-paying jobs with more advanced skillsets.
Economy
Cheyenne remains one of the most affordable cities in the United States. According to a cost of living index, it is the most affordable capital city in the United States. It is only 7% higher than the national average. The primary precursor and influencing factors are housing and healthcare. Utilities and transportation are also less expensive in the city. And Cheyenne, Wyoming, has lower food and grocery costs than the national average. Additionally, Cheyenne's economy employs 31.2 thousand people. Health Care, Retail Trade, and Public Administration are the essential industries in Cheyenne. While Mining, Quarrying, and Oil Extraction are some of the high-paying jobs. Agriculture, Forestry, Fishing, and Hunting also offer high salaries. According to people living in the city, the most common job groups are office and admin support. Sales, related occupations, and management are also standard in the city.
Employment
Cheyenne's unemployment rate has been consistent and well below the national average. Although the current rates are above 5%, many new businesses are looking to move here. Employment opportunities abound for its residents as a result. Cheyenne is one of the few Wyoming cities experiencing consistent economic growth. Dentists, pharmacists, chief executives, and managers have the highest pay. Health diagnosing, Treating Practitioners, and other Technical Occupations also offer high-income opportunities. Life, Physical, & Social Science occupations, architecture, and engineering are also high paying. Cheyenne residents say these are the most paid jobs by median earnings. The most developed industries are extraction, agriculture, manufacturing, construction, etc.
Real Estate in Cheyenne, WY
The city of Cheyenne provides residents with open spaces and outstanding recreational opportunities. Cheyenne, Wyoming, has a median home cost of $229,100. Unfortunately, many homes in Wyoming are not available for rent. Only 2% of Cheyenne, Wyoming's houses are open for rent. A studio apartment in Cheyenne costs around $650 per month. A one-bedroom apartment costs around $657 per month. In the city, a two-bedroom apartment costs about $867 per month. Those who want to rent a three or four-bedroom apartment will have a monthly rent of $1,203 and $1,523, respectively. Roughly twenty states in the States have average rental prices of less than $1,000 per month. Wyoming has a lower statewide rental cost. And rental costs in Cheyenne are comparable to rental fees in other Wyoming cities. Of course, these rates do not include utility costs in the rental prices. Residents of Cheyenne will also pay for electricity, cooling, heating, water, and garbage.
Real Estate Trends
Cheyenne real estate prices are higher than national averages. Cheyenne's most common housing type is single-family detached homes. These account for 65.71% of the city's housing units. Other housing types include duplexes and homes converted to apartments. These, along with small apartment buildings, account for about 12.06% of homes. Large apartment complexes or high-rise apartments are around 10.46% of homes. Few row houses and other attached homes come to about 9.39%. Owner-occupied, three and four-bedroom dwellings are the most common house type. These are usually in single-family detached homes in Cheyenne.
The city was a seller's market in July 2022. Cheyenne currently has 21 active home listings and two new homes for sale. Homes are sold for a median price of $458,500 in July 2022 and sold after an average of 268 days on the market. There were 18 homes sold in Cheyenne in July this year.
Final Thoughts
Those thinking about moving to Cheyenne, WY should know the pros and cons of living here. Let us recall the top few reasons people enjoy living in Cheyenne, Wyoming. The number one reason people say is its welcoming, small-town atmosphere. Other reasons include the growing economy and thriving real estate. Cheyenne is in a unique position. Residents can be in the city or the great outdoors in a few minutes. Generally, Cheyenne is a beautiful, welcoming community. The main draws to the Cheyenne area are the slower pace of life, low cost of living, and small-town atmosphere.
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