The typical owner-occupied home in Cheyenne County is worth about $187,500, 65% below the Colorado median of $539,400 and 44% below the national median of $332,700. Owners pay a median $887 a year in property taxes, about 0.47% of their home's value, close to the Colorado rate of 0.48%. The median household earns $70,865 a year, so the median home costs 2.6 times the median income (5.6 times for Colorado). 73% of occupied homes here are lived in by their owners, and 42% of those owners still have a mortgage.
Cheyenne County at a glance
| Cheyenne County | Colorado | U.S. | |
|---|---|---|---|
| Median home value | $187,500 | $539,400 | $332,700 |
| Median property tax paid per year | $887 | $2,602 | $3,119 |
| Property tax as a share of value | 0.47% | 0.48% | 0.94% |
| Median household income | $70,865 | $95,470 | $80,734 |
| Homes lived in by their owners | 73% | 66% | 65% |
| Owner homes with a mortgage | 42% | 69% | 61% |
| Median monthly costs, owners with a mortgage | $1,360 | $2,326 | $1,963 |
| Those costs as a share of the owners' income | 19.0% | 22.1% | 21.0% |
| Median rent | $926 | $1,761 | $1,413 |
| Rent as a share of renters' income | 21.3% | 31.4% | 30.6% |
| Median year homes were built | 1968 | 1988 | 1980 |
| Vacant homes | 20.4% | 8.3% | 10.1% |
| Population | 1,741 | 5,862,189 | 334,922,499 |
What a typical home costs per month in Cheyenne County
At this week's average 30-year rate of 7.11%, buying the median Cheyenne County home of $187,500 with 20% down costs about $1,161 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,473, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $49,741 for the 20%-down payment. That payment is 20% of the median Cheyenne County household income of $70,865; at that income and 20% down, the 28% guideline points to a home of about $267,000.
The median rent here is $926 a month, so owning the median home costs about $235 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $37,500 |
|---|---|
| Loan amount | $150,000 |
| Principal and interest | $1,009 |
| Property taxes (0.47% a year) | $73 |
| Homeowners insurance (our estimate, 0.5% a year) | $78 |
| PMI | $0 |
| Total per month | $1,161 |
Change the numbers in the calculator
| Down payment | $6,562 |
|---|---|
| Loan amount | $184,104 |
| Principal and interest | $1,238 |
| Property taxes (0.47% a year) | $73 |
| Homeowners insurance (our estimate, 0.5% a year) | $78 |
| FHA mortgage insurance | $83 |
| Total per month | $1,473 |
Change the numbers in the calculator
Questions about home buying in Cheyenne County
What is the median home value in Cheyenne County?
About $187,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Cheyenne County?
Homeowners pay a median $887 a year, which is about 0.47% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Cheyenne County?
For the median home with 20% down at 7.11%, the payment is about $1,161 a month. Keeping that under 28% of gross income takes about $49,741 a year.
More about Cheyenne County
- Mortgage Refinance in Cheyenne County
- Debt Relief in Cheyenne County
- Home Equity Loans in Cheyenne County
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data