Cost of Living in Cheyenne County, Colorado
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Cheyenne County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Cheyenne County ranks #196 of 3,144 counties for affordability (top 6%)
Data Story
About Cost of Living in Cheyenne County, Colorado
Cheyenne offers rare housing affordability
Cheyenne County's rent-to-income ratio of 15.3% is well below the national average, making it one of Colorado's most affordable rental markets. Renters here spend less than one-sixth of their income on rent, significantly better than typical American households.
Colorado's most affordable county by far
Cheyenne ranks among Colorado's most affordable counties, with a 15.3% rent-to-income ratio beating the state average of 20.2% by 5 percentage points. The median rent of $862 is the lowest among these eight counties and $391 below Colorado's median.
Eastern Colorado's bargain housing market
Cheyenne's $862 median rent is the cheapest in this region, undercutting Conejos County by $138 and Costilla County by $5. This rural eastern county offers unmatched affordability for those willing to embrace a less urban lifestyle.
Just 15% of income goes to rent
On a median household income of $67,768, Cheyenne renters spend only $862 monthly—15.3% of earnings, leaving substantial room for savings and other expenses. Homeowners fare even better, dedicating just 11.4% of income to monthly ownership costs.
Relocating to Cheyenne? You'll save.
This eastern county offers unbeatable housing affordability for remote workers and retirees seeking lower cost of living without Colorado's mountain-town price tags. Median home values of $187,100 make ownership realistic for middle-income households.
Cost of Living Advisory: Cheyenne County
Affordability Verdict
Cheyenne County is affordable for renters, with a median gross rent of $862/month representing approximately 15.3% of median household income. The rent burden (GRAPI) stands at 20.0%.
Rent vs. Own
Renters in Cheyenne County pay $862/month on average, compared to $643/month for homeowners. This market favors buyers by about 25%.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $34,480/year. For owner costs at the 28% rule, the required income is roughly $27,557/year. With a median household income of $67,768, most households can comfortably afford rent here. Notably, 20.0% of renter households in Cheyenne County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Cheyenne County sits 6% less expensive than Kit Carson County ($916/month) in terms of median gross rent.
Affordability Calculator
See how your income compares to housing costs in Cheyenne County
Rent Burden
15.3%
of gross income
Max Housing (28% Rule)
$1,581
per month
Owner Cost Burden
11.4%
of gross income
You can likely afford the median home in Cheyenne County
Median home value is $187,100. Estimated monthly cost: $1,494 vs. your max of $1,581.
Rent Affordability Guide
Income Needed Calculator
See how much you need to earn to comfortably afford housing
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Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.
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