Cheyenne, Wyoming Short-Term Rental Market
Cheyenne, WY STRs averaged $122/night at 53.0% occupancy in April 2026, with a July Frontier Days demand spike driving the market's annual revenue peak.
Quick Answer: Cheyenne, Wyoming is an active short-term rental market. average occupancy in the Wyoming Area market area is 69%. average monthly revenue in the Wyoming Area market area is $3,143. average daily rate in the Wyoming Area market area is $178. the top operator in the Wyoming Area market area is Evolve with 125 listings. market score is 59/100 (grade C).
Market data reflects the Wyoming Area regional market, which includes Cheyenne. Regulations, taxes, and permit details below are specific to Cheyenne.
Market Score Breakdown
Five dimensions StaySTRA evaluates per market.
Market Overview
Cheyenne is Wyoming’s capital and largest city, home to approximately 65,239 residents, drawing an estimated 1.1 million visitors annually. Tourism is anchored by Cheyenne Frontier Days, held in late July, which draws more than 200,000 attendees and is the world’s largest outdoor rodeo and Western celebration. Beyond that signature event, the city draws heritage and railroad history travelers, state government and capitol visitors, and road-trippers using Cheyenne as a gateway hub at the I-25 and I-80 crossroads roughly 100 miles north of Denver.
The market posted a $122.26 average daily rate and 53.0% occupancy in April 2026, generating $64.74 in RevPAR and $1,678 average monthly revenue. Year-over-year, occupancy declined 5.2% and revenue fell 3.7%, while ADR rose 2.4%. The 3,519 listing records break down by bedroom size: 1-bedroom (1,221), 2-bedroom (1,077), 3-bedroom (728), 4-bedroom (313), and 5-bedroom or larger (178). By listing type, entire-place units account for 3,260 (92.6%), with private rooms at 258 and shared rooms at 1. Channel data shows 2,064 Airbnb-only listings, 1,191 on both platforms, and 264 VRBO-only. Market scores: rental demand 80.7 and seasonality 71.6 are the strongest signals, with investability at 65.8 and revenue growth at 57.9.
Seasonal Patterns
| Month | Occupancy |
|---|---|
| Jan | 45% |
| Feb | 53% |
| Mar | 52% |
| Apr | 52% |
| May | 60% |
| Jun | 66% |
| Jul | 68% |
| Aug | 60% |
| Sep | 56% |
| Oct | 53% |
| Nov | 49% |
| Dec | 49% |
Month-by-month nightly rates and revenue figures for Cheyenne are available to StaySTRA Pro members. Unlock with StaySTRA Pro or analyze a specific address free.
Top Short-Term Rental Operators in Wyoming Area market area
Ranked by total active listings. Useful for understanding the competitive landscape. Operator data is published for the Wyoming Area market as a whole, which includes Cheyenne, so these counts are not Cheyenne-only figures.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Evolve | 125 | 4,967 | ★ 4.81 |
| 2 | Wagon Box Inn Restaurant Cabins | 32 | 220 | ★ 4.73 |
| 3 | Cara Rohde | 27 | 7,014 | ★ 4.70 |
| 4 | Leavetown | 20 | 8 | ★ 4.20 |
| 5 | Cindy Hill | 20 | 125 | ★ 4.92 |
What Kind of STR Should I Buy in Cheyenne?
Revenue and nightly-rate breakdowns by bedroom count, property tier, and dwelling type for Cheyenne are available to StaySTRA Pro members. Unlock with StaySTRA Pro or analyze a specific address free.
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 58.7% |
| vrbo | 7.5% |
| both | 33.8% |
Home Value Trends (Cheyenne)
Typical home values, median sale prices, and the 10-year price trend for Cheyenne are available to StaySTRA Pro members. Unlock with StaySTRA Pro or analyze a specific address free.
Booking Insights
Booking-window and length-of-stay analysis for Cheyenne — how far ahead guests book and how to price around it — is available to StaySTRA Pro members. Unlock with StaySTRA Pro or analyze a specific address free.
Short-Term Rental Regulations
Cheyenne is one of the more STR-permissive markets in the intermountain West. The city defines a short-term rental as renting a dwelling unit or portion thereof for fewer than 30 consecutive days. Operators are expected to obtain a Lodging Facility License under the city’s Unified Development Code and meet basic safety standards. The main operational rule is an occupancy cap of no more than four unrelated adults per unit. There is no owner-occupancy requirement, no primary-residence requirement, and no annual night cap. Enforcement has historically been minimal, and local reporting has indicated the city lacked robust STR-specific licensing authority; officials have discussed introducing a stronger ordinance, but no comprehensive new STR ordinance was confirmed as enacted as of mid-2026.
On taxes, STR operators must register with the Wyoming Department of Revenue and collect applicable state and lodging taxes. As of January 1, 2025, Laramie County imposes the full 7% lodging tax (confirmed in the area profile as the applicable occupancy tax rate), layered on top of approximately 6% in state and county sales taxes, meaning guests typically pay roughly 13% in combined taxes. Operators should verify current license requirements and any new ordinance directly with the City of Cheyenne Planning and Development Department, as the regulatory framework is described as actively evolving.
Market Comparison
Cheyenne’s 53.0% occupancy in April 2026 is modestly below the US STR median of approximately 55%, and its $122.26 ADR is well below the US STR median of approximately $220. RevPAR of $64.74 is below national benchmarks, reflecting Cheyenne’s positioning as a lower-price, moderate-occupancy market. The 2025 full-year average ADR of $145 is similarly below the national median. Cheyenne is not a premium pricing market; its investment case rests on lower property acquisition costs, minimal regulatory friction, Wyoming’s lack of state income tax, and stable year-round government and event demand.
The professional management landscape is modest. Evolve leads with 125 listings and 4,967 reviews (4.81 average rating). Wagon Box Inn Restaurant and Cabins follows with 32 listings and 220 reviews (4.73 rating). Cara Rohde holds 27 listings with 7,014 reviews (4.70 rating). Leavetown manages 20 listings with 8 reviews (4.20 rating). Cindy Hill rounds out the top five with 20 listings and 125 reviews, the highest rating in the top five at 4.92. The top five operators collectively manage 224 listings, representing approximately 6.4% of the 3,519 total listing records, leaving the market strongly dominated by independent hosts.
Frequently Asked Questions About Cheyenne, Wyoming
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What occupancy rates do Cheyenne STRs achieve?
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Is short-term renting legal in Cheyenne, WY?
What taxes apply to Cheyenne short-term rentals?
How does Frontier Days affect the Cheyenne STR market?
Who are the top STR property managers in Cheyenne, WY?
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