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Cheyenne, WY mortgage & affordability calculator

The typical home in Cheyenne, WY is worth about $370,000. With 20% down that's a loan near $296,000 — the calculator is pre-filled with that figure. Wyoming's lack of a state income tax and one of the lowest property tax rates in the country make Cheyenne, the state capital, an increasingly common landing spot for buyers relocating from higher-tax Colorado just an hour south. F.E. Warren Air Force Base is the metro's largest single employer.

$1,921.82 / month

Total interest
$395,854
Total paid
$691,854
Payoff
30.0 years
Balance over YearBalance ends near $0 at 30.$0$74k$148k$222k$296k0612182430Year

How much you need to earn

Cheyenne, WY's median household income is about $70,000 a year. Under standard 28/36 lending rules that supports a home price around $275,254 with 20% down — below the $370,000 typical price, so many buyers need a larger down payment, a co-borrower, or a longer commute.

$275,188 max home price

Max loan amount
$201,188
Housing payment budget
$1,633
P&I budget
$1,306
Bound by
front-end ratio

Uses the 28% front-end / 36% back-end DTI guidelines. Lenders vary.

Typical asking rent in Cheyenne, WY is about $1,350 a month, so owning the median home costs roughly $898 more per month before tax effects, maintenance, and any change in home value.

Frequently asked questions

What is a typical mortgage payment in Cheyenne, WY?
On the metro's roughly $370,000 typical home with 20% down, the loan is about $296,000. Principal and interest run near $1,922 a month at today's rate, and Cheyenne, WY's property tax plus insurance add about $327, for a full payment near $2,248.
Can I afford a home in Cheyenne, WY on the median income?
The median household income is about $70,000 a year. Under standard 28/36 lending rules that supports a home price around $275,254 with 20% down — below the $370,000 typical price, so buyers often need a larger down payment or a co-borrower.
Is it cheaper to rent or buy in Cheyenne, WY?
Typical asking rent is about $1,350 a month. The full owner payment on a median home is near $2,248, so owning costs roughly $898 more per month before tax effects, maintenance, and any appreciation.
How much are property taxes in Cheyenne, WY?
The effective property tax rate in the core county is about 0.60% of market value — roughly $2,220 a year on the typical home. Your exact rate depends on the municipality and any exemptions.
Are home prices in Cheyenne, WY rising or falling?
Home values are up about 3% over the past year. Wyoming's lack of a state income tax and one of the lowest property tax rates in the country make Cheyenne, the state capital, an increasingly common landing spot for buyers relocating from higher-tax Colorado just an hour south. F.E. Warren Air Force Base is the metro's largest single employer.

Nearby metros

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