Cost Of Living In Cheyenne, WY (Taxes, Housing & More)
As the capital city of Wyoming, Cheyenne and offers excellent recreation options, an abundance of wide-open spaces, mountain views, and a low population density. If you like a lot of space, beautiful views, and avoiding over-populated areas, Cheyenne might just be your perfect city. It’s a rugged but modern Western-style town, which became popular when the Union Pacific Railroad made Cheyenne a stop on its route west in the mid-1800s.
Cheyenne sits at the northernmost area of the Southern Rocky Mountain front. Cheyenne is near Crow Creek and Dry Creek, so access to water activities, like fishing and rafting, are available. Cheyenne has a cool, dry climate and can see some snowfall for about six months during the year, yet spring and summer are temperate with warm days and cool evenings.
The median home cost of living in Cheyenne, Wyoming is $253,900. However, this does not cover other living costs, such as child care, utilities, groceries, and taxes. With a cost of living index of 105.6, it is a little more expensive than the US average of 100.0.
Wyoming’s minimum wage is $7.25 an hour, while the livable wage is $13.19 an hour. Many people will have a range of pay bases to help them afford to live in Cheyenne. Cheyenne’s cost is considerably less than living in San Francisco or New York City, but costs do add up. Here’s a breakdown of precisely what you might spend to live monthly in Cheyenne, WY.
Homeownership Costs in Cheyenne, Wyoming
Owning a home in Cheyenne is comparatively less than in other areas of the country. Most homes in Cheyenne cost around $253,900. The average price of a home in the US is $284,600, so Cheyenne is approximately 9% lower than the national average.
Median Home Prices in Cheyenne, Wyoming Compared
|Location||Median Home Price||Homeownership Rate|
There are some expensive homes in Cheyenne where the price goes up to $2.2 million. But this is for custom-built, large homes on large tracts of land. There are plenty of affordable homes in Cheyenne and something to fit virtually anyone’s budget. If you don’t think you can afford it, try renting!
Rental Costs in Cheyenne, Wyoming
When you move to Cheyenne, you will notice there are a few homes to rent. In fact, 2.3% of houses and apartments in Cheyenne are available to rent. Here’s what you can expect to pay, based on the size of the home:
|Style of Home||Price Per Month|
There are about twenty-one states with average monthly rental prices under $1,000. With Wyoming’s statewide average rent of just $855 per month, the state is one of the most affordable places for renters. In fact, between 2019 and 2020, rent for a one-bedroom apartment dropped in Wyoming.
In Cheyenne, however, the average monthly rent is even lower, at just $750. To put things in perspective, the following table outlines how the average monthly rent in Cheyenne compares to other cities in the state of Wyoming:
Taxes in Cheyenne, Wyoming
With no state income tax, taxpayers on Cheyenne, Wyoming pay only two main forms of state and local tax: local property taxes, and state and local sales taxes. The state has one of the lowest base sales taxes in the country, and average effective property tax rates are also on the low end.
Sales Tax in Cheyenne, Wyoming
Wyoming’s base sales tax rate is tied for the second-lowest rate of any state with a sales tax, at just 4%. Though, counties in Wyoming can also impose local sales taxes on top of that rate of up to 2%. Laramie County, where Cheyenne is located, imposes an additional county rate of 2.0%.
This means that Cheyenne residents pay the maximum for sales tax in the state, at 6.0%.
Property Taxes in Cheyenne, Wyoming
Wyoming’s average effective property tax rate, or the annual taxes as a percentage of home value, is only 0.57%. This rate is the 10th lowest in the country and Wyoming homeowners pay an average of $1,352 in property taxes annually. One property tax exception is elderly or disabled homeowners. These groups may be eligible for a property tax exemption.
Income Taxes in Cheyenne, Wyoming
Fortunately, one of the advantages of living in Cheyenne, Wyoming is the lack of state income tax. Wyoming is among a select few states in the country that do not have a personal income tax. This means that whether you’re a teacher, doctor, carpenter, rancher, or dog-walker, you don’t have to pay any sort of income tax on your personal income – including capital gains and income from interest. For Cheyenne residents, once you finish your federal tax return, your taxes are complete for the year.
Utility Costs in Cheyenne, Wyoming
In every single state you move to, you will have to pay utilities. If you are renting a home or apartment, sometimes utility fees are rolled into monthly rental payments, but you will have to check your rental contract to be sure. For a small apartment of 915 sq ft, you can expect to pay $148.59 a month for the basic utilities. What do utilities include?
There may be certain places that do not include garbage, and you will have to find your way to dispose of your trash. Some places will cover this cost, but you must provide your garbage cans that still need to meet community requirements.
Child Care Costs in Cheyenne, Wyoming
Caring for children can be expensive; for working parents, child care is a necessity. Child care is a part of daily life that many people don’t talk about or think about because it just has to be done. But it can be a considerable expense.
In Cheyenne, the average cost of full-time daycare per week is $335. Prices will vary depending on the age of the child. You can expect to pay approximately $1,399 per month per child for care in Cheyenne. If you are looking at a private daycare that may also teach your children or prep them for school, you will end up paying much more. It all depends on what you want and what you are looking for.
Food & Grocery Costs in Cheyenne, Wyoming
Something we sometimes overlook when moving to a new area is the cost of food. Grocery shopping is something most of us do weekly, and sometimes monthly. The bigger your family is, the most you will pay for food.
Here is a list of some grocery items and prices in Cheyenne; this can be a good starting place to figure out what you eat and how much you’ll spend a week or a month.
|1 Gallon of Milk||$2.58|
|1 Loaf of White Bread||$1.67|
|1 Carton of Eggs||$2.23|
|1 Pound of Chicken||$3.33|
|1 Pound of Onion||$1.51|
|1 Head of Lettuce||$1.76|
|1 Bottle of Mid-Range Wine||$9.50|
|0.5 Liters of Domestic Beer||$1.25|
Entertainment Costs in Cheyenne, Wyoming
Cheyenne has a lot to see and do, so after moving you will likely want to start going to do fun activities and exploring the area. Most of these activities will cost money. What is there to do, and how much does it cost? The truth is there are many different things to do, a wide variety of things to do. You will need to set yourself a budget and stick with it. Here is a list of activities that can help you determine that budget.
|Restaurants (2 people/mid-range)||$25.00|
|Fitness Club (one adult, monthly fee)||$28.75|
|Movies (1 adult ticket)||$12.00|
Depending on where and when you go, activities fees will vary. There can always be extra expenses with activities, depending on the time of day, day of the week, number of people attending, etc.
Education Costs in Cheyenne, Wyoming
Educating kids is expensive, even more so if you’re interested in sending them to private school. There are so many costs that add up every year we want to make sure you are as prepared as possible.
On average, Cheyenne schools have approximately 14 kids per class and spend about $18,090 per student. However, that does not mean you have to pay that amount; it means that’s what it costs the school. Here are some other things to keep in mind when looking at education costs in Cheyenne.
There are six top private schools in Cheyenne, Wyoming. The average private school tuition in Wyoming is $3,644 for elementary school and $15,417 per high school per year. Prices of private schools in Cheyenne may be slightly higher or lower.
Universities and Colleges
Laramie County Community College is an excellent option for many locals. If you are thinking of attending a university or college, this may be a budget-friendly option compared to other states. Franklin University is another college in Cheyenne is a private four-year school.
If you become a Wyoming resident who attends Laramie County Community College in Cheyenne, you will spend around $4,433 for tuition alone. However, this does not cover costs or room and board, or any textbook fees.
How much do you need to live comfortably in Cheyenne?
On average, to live comfortably in Cheyenne, you will need to make at least $27,425 a year. This means you would need to make $2,285 a month to live on your own in Cheyenne. The bigger your family is, the more you will need to make.
Is Cheyenne a good place to live?
Whether you’re a young professional just starting your career or family or a retiree looking for a great place to live after a long career, Cheyenne is a very good place to live. It’s a friendly and welcoming city with lots of things to see and do. There is a strong sense of community in Cheyenne which makes it a wonderful place to raise children. Cheyenne has access to some of the most beautiful mountains in the US.
What are the main industries in Cheyenne?
Industries in Cheyenne include manufacturing, agriculture, the military and government, tourism, and transportation.
Is Cheyenne WY Right for You?
Cheyenne has a lot to offer and it’s a very desirable place to live. With an elevation of 6,063 feet above sea level, Cheyenne is a true mountain city on the Rocky Mountain front range. Cheyenne offers museums, botanical gardens, restaurants, entertainment venues, and a lot of outdoor activities like mountain biking, hiking, fishing, rafting, hunting, and access to great ski areas.
Cheyenne may be cheaper than other areas of Wyoming to live, compared to major cities like nearby Denver, Colorado. However, depending on the size of the house you choose and the size of your family, it may also be expensive, so you’ll want to keep that in mind when choosing where to live.
Cheyenne is a growing, thriving area with lots to see and do. Cheyenne is an enjoyable area to visit with nightlife and activities if you are a single person. It’s also a great place to raise a family.
If you’re not completely sold on Cheyenne but are still considering relocating to Wyoming, check out What Are The Pros and Cons of Living In Wyoming?
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