Cheyenne is a welcoming and friendly community, and looking better than ever.
All who come to Cheyenne start to feel instantly a part of the family. Cheyenne is naturally a welcoming and friendly community because while it is a large city for the State of Wyoming, it has a rich small town feel. You can look at Cheyenne as being the unique and fun bed and breakfast with customized hospitality service, where as many of the communities to the South are your cookie cutter chain hotels. Cheyenne is authentic and in the way that will leave a lasting impression. For residents, unemployment is less than 2% which is a clear indicator that the economy is strong. Additionally, in an economic downtown for the State because of the reduction in energy, especially coal. The City of Cheyenne grew significantly and was the only community in the State of Wyoming to do so.
2004 is the total number of homes sold in 2017 and it is projected to have 4% growth in 2018. New developments will include Sweetgrass which is a recent annexation conducted by the City of Cheyenne and Whitney Ranch Development. Both are projected to be the largest developments in 2018. Additionally, developers understand there is a high demand for homes which are between $190k and $225k. An increase in housing options adhere to this price range is likely to surface at a new level. More builds within this threshold may have an impact on available rentals for the area too. Average rental rate for the City of Cheyenne is $1000/month and this is compared to NOCO’s average of $1,300 for a single family home.
While interest rates are low, we encourage everyone to dive into home ownership instead of renting. This is an important takeaway because when rates are up then the purchasing power of buyers go down. Less home purchases will result in less inventory for rentals. So, buy your homes while the market is good. Right now, the market is extraordinary. Which is even better!
Consult one of our Agents today and check out Cheyenne’s inventory at www.CheyenneHomeStore.com.