Real Estate Investing in Cheyenne, Wyoming (82009)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 82009 (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 (82009)?
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Market Analysis: 82009 Cheyenne
ZIP 82009 in Cheyenne, WY carries a resilient set of headwinds. Home values near $497K and rents of $1,705/mo sit inside a market where underwriting has to be tight.
Rent of $1,705/mo on a $497K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 82009 sits below the stated 0.0% once reality is priced in.
Regionally, 82009 sits on the difficult end of the WY spectrum. The a credible choice for read — for disciplined operators — is that pricing reflects the difficulty.
Resident income in 82009 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
Strategically, 82009 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
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 82009 Compare?
| Metric | 82009 | Cheyenne | Cheyenne, WY | Wyoming |
|---|---|---|---|---|
| Home Value | $497,484 | $235,196 | N/A | $359,462 |
| 5-Year CAGR | 3.1% | 3.3% | N/A | 6.2% |
| Avg Rent | $1,705 | $1,569 | N/A | - |
| Cap Rate | 2.7% | 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 82009 (Cheyenne, WY). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $497,484 |
| Monthly Rent | $1,705 |
| Price-to-Rent | 24.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.1% |
| Cap Rate | 2.7% |
| 5-Year IRR | 5.8% |
📈 Home Appreciation
| 1-Year | +4.2% ▲ |
| 3-Year CAGR | +3.0% ▲ |
| 5-Year CAGR | +3.1% ▲ |
| 10-Year CAGR | +4.5% ▲ |
🏠 Rent Trends
| 1-Year | +4.6% ▲ |
| 3-Year CAGR | +5.4% ▲ |
| 5-Year CAGR | +5.8% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.7%). 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 82009
Population: 35,355
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 82009
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.
Frequently Asked Questions
Are eviction rules reasonable in Cheyenne, WY?
For rental operators, Cheyenne, WY rates as landlord-friendly. The regulatory environment standard buy-and-hold operations.
Are tenants stable in Cheyenne, WY?
Cheyenne, WY draws a steady base of working renters. Demand at the $1,705/mo rent level is reasonable for standard single-family and small multi rentals.
Is housing expensive in Cheyenne, WY?
Cheyenne, WY home values average about $497K. That price point suits investors targeting rentals with $1,705/mo in monthly income.
What is the best play in Cheyenne, WY?
For Cheyenne, WY, careful cash-flow rentals with hands-on management is the standard investor playbook. The market structure makes it a reasonable default approach.
Can I live-in-and-rent in Cheyenne, WY?
House hacking in Cheyenne, WY is a challenging. With home values around $497K and rents at $1,705/mo, owner-occupants can offset a meaningful share of PITI.
You know 82009 now. You don’t know where it ranks.
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How 82009 ranks in Cheyenne, WY
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