Location: Cheyenne, WY | Metro: Cheyenne, WY MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $900 |
| 1 Bedroom | $1,010 |
| 2 Bedrooms | $1,290 |
| 3 Bedrooms | $1,790 |
| 4 Bedrooms | $2,160 |
| 5 Bedrooms | $2,506 |
| 6 Bedrooms | $2,807 |
| 7 Bedrooms | $3,032 |
| 8 Bedrooms | $3,184 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,790 | $333,347 | 0.54% | F |
U.S. Census Bureau data (2024)
The real estate landscape in ZIP 82007 reveals a market where pricing power is likely to remain strong over the next 12 to 24 months. The median home value stands at $321,234, indicating a stable housing market. With only 0.2% of listings being reduced, it's clear that sellers are holding firm on their asking prices, suggesting a resilient demand environment. The median days on market (DOM) is just 8 days, which is a strong indicator of rapid sales and high buyer interest.
On the rental side, the forward-moving rent (FMR) for ZIP 82007 in fiscal year 2024 is projected at $1,240. This is notably lower than the current market rent, measured by the Zillow Observed Rent Index (ZORI), which is $1,564. This gap between FMR and ZORI suggests that rental prices are currently above what might be expected in the near future, possibly due to short-term market conditions or temporary supply constraints.
For long-hold investors, the data points towards a cautious approach regarding appreciation expectations. While the current market conditions support robust pricing power, the low percentage of price reductions and quick sales indicate a saturated demand phase. As the rental market stabilizes around the FMR levels, the pressure on home values to increase rapidly diminishes. However, the strong sales velocity and minimal price adjustments also imply that there is little risk of a significant downturn in property values.
The setup here is one where ZIP 82007 offers a relatively safe haven for investors seeking stability rather than explosive growth. Home values are unlikely to depreciate given the current demand, but the potential for substantial appreciation is limited by the projected rental market trends. Long-term investors should focus on maintaining properties and ensuring they are competitive within the local rental market to sustain returns.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.