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Cheyenne, WY DSCR LoansAppreciation Market

DSCR Loans in Cheyenne, WY

Finance investment properties in Cheyenne with a DSCR loan. Qualify based on rental income, not tax returns. Median rent at $1,200/mo with +3.0% annual growth.

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$1,200/mo
Median Rent
$320K
Median Home Price
+3.0%
Rent Growth (YoY)
65K
Metro Population

Market data updated 2026-01-30

Cheyenne Market Snapshot

Why Invest in Cheyenne?

  • State capital with government and F.E. Warren Air Force Base driving demand
  • No state income tax and low property taxes make Wyoming investor-friendly
  • Frontier Days festival generates significant annual STR revenue

Key Economic Drivers

GovernmentMilitary (F.E. Warren AFB)HealthcareTechnology
Median Rent
$1,200/mo
Rent Growth
+3.0%

Property Types We Finance

Single FamilyMulti-FamilyTownhomes

Popular Investment Areas

DowntownSouth CheyenneNorth CheyenneEast Side

Metro Population

65K

Cheyenne metro area — a strong tenant pool for rental property investors.

DSCR Analysis

Example DSCR Calculation for Cheyenne, WY

Here's how a typical DSCR loan works using Cheyenne's actual market data.

Loan Structure

Purchase Price$320,000
Down Payment (20%)$64,000
Loan Amount$256,000
Interest Rate7.5%

Monthly Costs (PITIA)

Principal & Interest$1,790
Property Tax (0.61% rate)$163
Insurance$142
Total PITIA$2,095

DSCR Result

Monthly Rent
$1,200
÷
Monthly PITIA
$2,095
=
DSCR Ratio
0.57

Based on Cheyenne's median home price of $320,000 and median rent of $1,200/month, a typical DSCR investment produces a challenging DSCR ratio. Investors may need a larger down payment (25-30%) to improve the ratio, or should target properties priced below the median. With a 20% down payment of $64,000, the monthly PITIA (principal, interest, taxes, insurance) comes to $2,095. The local property tax rate of 0.61% and annual insurance cost of $1,700 are factored into this calculation.

Estimated Cap Rate
2.7%
Cheyenne's estimated cap rate is 2.66%, indicating a premium market where investors rely primarily on appreciation.
Market Comparison

Cheyenne vs. Wyoming Average

How Cheyenne's rental market compares to the Wyoming statewide average.

Median Rent
$1,200/mo
↑ 9.1% above state avg
Median Home Price
$320K
↑ 14.3% above state avg

Cheyenne's median rent of $1,200/month is 9.1% above the Wyoming state average of $1,100/month. Home prices at $320,000 are 14.3% above the state average of $280,000.

Investment Strategy

Cheyenne Investment Strategy: Appreciation

Cheyenne represents a smaller-market appreciation strategy where local fundamentals like government and military (F.E. Warren AFB) drive steady value gains. With $1,200/mo rents and $320K prices yielding a 4.50% ratio, investors benefit from both cash flow and modest appreciation. Target Downtown for premium tenants or South Cheyenne for better cap rates.

DSCR Ratio
0.57
Cap Rate
2.7%
Vacancy Rate
5.8%
Tax Rate
0.61%
FAQ

DSCR Loan Questions for Cheyenne

What is the minimum DSCR ratio for a loan in Cheyenne?
Standard DSCR requirements in Cheyenne range from 1.0 to 1.25 depending on the lender and loan terms. With Cheyenne's median rent at $1,200/mo and vacancy rate of 5.8%, lenders factor in market stability when evaluating ratios. Stronger markets like Cheyenne may qualify for more flexible terms.
What's the minimum down payment for DSCR loans in Cheyenne?
Yes, 20% down is sufficient for most Cheyenne DSCR loans if the property meets DSCR requirements. That's $64,000 for a median-priced $320K property. However, Cheyenne's above-average rents means many properties qualify even at lower down payments.
Where should I buy an investment property in Cheyenne, WY?
Top investment neighborhoods in Cheyenne include Downtown, South Cheyenne, North Cheyenne. Each area offers a different investor profile ranging from cash flow to appreciation, so aligning your strategy with the right neighborhood is essential for maximizing DSCR loan performance.
Is Cheyenne a good market for DSCR-financed vacation rentals?
Airbnb and VRBO properties can qualify for DSCR loans in Cheyenne when lenders use projected STR income (often from AirDNA or similar platforms) for qualification. Cheyenne's permissive regulations make it relatively straightforward to operate vacation rentals.
How do property taxes impact investment returns in Cheyenne?
Budget $1,952 annually ($163/month) for property taxes on a median-priced Cheyenne property. The 0.61% rate is relatively low, helping investors maintain positive DSCR.
What's the typical cash-on-cash return for Cheyenne rentals?
Cheyenne is primarily a appreciation market. Cheyenne represents a smaller-market appreciation strategy where local fundamentals like government and military (F.E. Warren AFB) drive steady value gains. With $1,200/mo rents and $320K prices yielding a 4.50% ratio, investors benefit from both cash flow and modest appreciation. Target Downtown for premium tenants or South Cheyenne for better cap rates.
What appreciation rate can I expect in Cheyenne?
Cheyenne's historical appreciation has outpaced state and national averages, driven by Government and Military (F.E. Warren AFB) employment growth. While past performance doesn't guarantee future returns, Cheyenne's state capital with government and f.e. warren air force base driving demand suggests continued upward pressure on values. DSCR investors should focus on total return (appreciation + income) rather than cash flow alone.

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