Real Estate Investing in Cheyenne, Wyoming (82007)
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Should you buy in 82007 (Cheyenne, WY)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
What’s happening in Cheyenne, WY (82007)?
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Market Analysis: 82007 Cheyenne
ZIP 82007 inside Laramie County looks affordable on the surface — median value of $326K — but the discount exists for reasons that a careful buyer should understand before committing.
The 82007 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
Meanwhile, 82007 offers a low basis, the region around Cheyenne has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
The 82007 ZIP's population of 21,800 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that stands at the need for careful underwriting.
Experienced landlords with local relationships tend to find 82007 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Cheyenne:
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 82007 Compare?
| Metric | 82007 | Cheyenne | Cheyenne, WY | Wyoming |
|---|---|---|---|---|
| Home Value | $326,310 | $235,196 | N/A | $359,462 |
| 5-Year CAGR | 3.2% | 3.3% | N/A | 6.2% |
| Avg Rent | $1,592 | $1,569 | N/A | - |
| Cap Rate | 3.8% | 3.2% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 82007 (Cheyenne, WY). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $326,310 |
| Monthly Rent | $1,592 |
| Price-to-Rent | 17.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.9% |
| Cap Rate | 3.8% |
| 5-Year IRR | 7.0% |
📈 Home Appreciation
| 1-Year | +5.5% ▲ |
| 3-Year CAGR | +3.5% ▲ |
| 5-Year CAGR | +3.2% ▲ |
| 10-Year CAGR | +5.3% ▲ |
🏠 Rent Trends
| 1-Year | +14.8% ▲ |
| 3-Year CAGR | +7.7% ▲ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.8%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 82007
Population: 21,800
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 82007
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 1,042 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How much does a house cost in Cheyenne, WY?
Homes in Cheyenne, WY typically sell near $326K. Prices have moved at a 0.0% 5-year CAGR, which steady long-term demand.
What is the renter demographic in Cheyenne, WY?
Tenant quality in Cheyenne, WY ranks as solid. Landlords generally report consistent occupancy at market rents of $1,592/mo.
What are vacancy rates like in Cheyenne, WY?
Cheyenne, WY sees elevated vacancy, which is reasonable relative to the broader WY rental market.
Is Cheyenne, WY better for rentals, flips, or BRRRR?
Cheyenne, WY investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($326K prices, $1,592/mo rents) make it a reasonable choice.
How strict are landlord regulations in Cheyenne, WY?
Rental owners in Cheyenne, WY deal with a landlord-friendly legal framework. Most standard eviction processes run on reasonable timelines.
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