Cheyenne, WY Airbnb Market Data, Statistics, and Occupancy Rates

Cheyenne Short-Term Rental Market Overview

Cheyenne's short-term rental market features 188 active Airbnb listings generating an average annual revenue of $21,443 per property, with an ADR of $125—well below the Wyoming state average of $569. Occupancy sits at 41%, slightly trailing the 48% state benchmark, but a dramatic July revenue spike (driven by Cheyenne Frontier Days) creates a standout seasonal earning opportunity. With average home values around $557,034 and a 174% year-over-year growth in active listings, the market is drawing investor attention even as competition intensifies.

Key Market Statistics

According to Rabbu market data, the Cheyenne short-term rental market shows:

Data sources: Rabbu proprietary analytics as of Apr, 27 2026 and Zillow Home Value Index (ZHVI) as of Mar, 17 2026.

Why Investors Consider Cheyenne

Cheyenne appeals to investors seeking exposure to a niche western market with a pronounced summer peak and relatively low entry costs compared to resort-driven Wyoming destinations.

Expert Market Assessment

"Cheyenne presents a competitive but selective opportunity. The market's ROI score of 41 out of 100 reflects a below-average revenue-to-price ratio and rapid supply growth that has outpaced demand gains, requiring investors to be more strategic about property selection and pricing. Seasonality is pronounced—July revenues of $4,602 are roughly four times the winter lows near $1,020—so cash-flow planning should account for several leaner months. Larger properties consistently outperform on both occupancy and RevPAN, suggesting that investors targeting 4- or 5-bedroom homes are best positioned to capture outsized returns relative to the broader market average."

— Rabbu Market Analysis Team

Key Airbnb Metrics & Trends in Cheyenne

Average revenue by month in Cheyenne

Revenue in Cheyenne follows a sharp seasonal curve, with July standing out at $4,602—roughly 4.5 times the January low of $1,020. Outside of the July spike, the May-through-September window sustains revenues above $1,800, while the November-through-March period generally stays below $1,325, making cash reserves essential for winter months.

Active Airbnb listings by property size in Cheyenne

One-bedroom units dominate Cheyenne's supply with 71 listings (38% of the market), followed by 2-bedrooms at 55. Larger configurations are notably scarce—only 7 five-bedroom and 11 four-bedroom listings exist—which may represent an opportunity given their significantly stronger revenue performance.

Average daily rate (ADR) by property size in Cheyenne

ADR scales steeply with size in Cheyenne, jumping from $82 for 1-bedrooms to $302 for 5-bedroom properties. The sharpest pricing premium appears between 2-bedrooms ($107) and 3-bedrooms ($179), suggesting that the jump to a mid-size family-friendly property commands a meaningful nightly rate increase.

Average RevPAN by property size in Cheyenne

RevPAN rises dramatically with property size: 5-bedroom homes deliver $185 per available night, nearly nine times the $21 RevPAN of studios. Four-bedroom properties also perform well at $91, indicating that larger homes generate substantially more revenue per calendar night even after accounting for their occupancy rates.

Average occupancy rates by property size in Cheyenne

Five-bedroom properties lead occupancy at 61%, well above every other category and nearly three times the 24% studio rate. Mid-range properties (1- through 4-bedrooms) cluster tightly between 39% and 43%, suggesting that beyond a baseline size threshold, occupancy differences are modest until you reach the largest homes.

Average monthly revenue by property size in Cheyenne

Monthly revenue climbs steadily from $898 for studios to $4,055 for 5-bedroom homes, with the most dramatic jump occurring between 3-bedrooms ($2,603) and 4-bedrooms ($3,692). Investors targeting properties with three or more bedrooms can expect monthly earnings well above the market-wide $1,786 average.

Average annual revenue by property size in Cheyenne

Five-bedroom properties top the annual revenue chart at $48,660, more than double the 2-bedroom figure of $20,522. Four-bedroom homes earn $44,307 annually, making both larger configurations the most compelling from a gross revenue standpoint—though investors should weigh these returns against higher acquisition and operating costs.

Most common amenities for Airbnb listings in Cheyenne

Parking is universal at 100% of Cheyenne listings, reflecting a car-dependent market where this amenity is non-negotiable. Kitchen (96%), washer (91%), and dryer (88%) are near-standard, while self check-in (85%) signals strong guest expectations for contactless arrival. Hot tubs (3%) and EV chargers (2%) remain rare, offering potential differentiation opportunities for investors willing to add premium features.

Understanding Cheyenne's ROI Score: 41/100

Rabbu's ROI Score is a proprietary metric that evaluates short-term rental investment potential based on multiple factors.

How the ROI Score is Calculated

What This Means for Investors

Cheyenne's ROI score of 41 out of 100 places it in the 'Competitive Opportunity' band, reflecting above-average occupancy stability but below-average performance on revenue-to-price ratio, market growth trend, and supply/demand balance. The rapid influx of new listings (174% year-over-year growth) has tightened competition, meaning investors need to source deals carefully and target property types—particularly larger homes—where demand outpaces supply. Pairing this data with thorough local regulatory research and a realistic seasonal cash-flow model will be essential before committing capital.

Short-Term Rental Regulations in Cheyenne

Understanding local STR regulations is essential before investing in Cheyenne. Here's the current regulatory landscape:

Permit Requirements

The City of Cheyenne and the State of Wyoming may require short-term rental operators to obtain permits or register their properties before listing. Investors should verify current requirements directly with Cheyenne's municipal offices and the Laramie County clerk, as regulations can change frequently.

Key Restrictions

Common STR restrictions in markets like Cheyenne can include occupancy limits, minimum-stay requirements, noise ordinances, parking mandates, and HOA-specific rules that may override municipal allowances. Investors should also check whether permit caps or zoning overlays apply to their target neighborhoods before committing to a purchase.

Tax Obligations

Wyoming does not levy a state income tax, but STR operators in Cheyenne should expect to collect and remit lodging taxes and any applicable local sales taxes. Many booking platforms handle tax collection automatically, though hosts are responsible for confirming compliance with both state and Laramie County obligations.

Regulations subject to change. Always verify with local authorities before purchasing. A Rabbu partner agent specializing in Cheyenne can provide current regulatory guidance.

Future Outlook & Long-Term Forecast

"Over the next 12–18 months, Cheyenne's STR market is likely to face increasing supply pressure given the 174% year-over-year listing growth, which could keep occupancy rates in the 38–44% range outside of peak season. July will almost certainly remain the revenue anchor, with hosts potentially earning $4,500–$5,000 during that month alone. ADR growth is expected to be modest—perhaps 1–3%—as new supply puts downward pressure on pricing power, making operational efficiency and property differentiation more important than ever for maintaining margins."

— Rabbu Market Analysis Team

Frequently asked questions about Airbnb in Cheyenne, WY

What is the average Airbnb occupancy rate in Cheyenne?

The average Airbnb occupancy rate in Cheyenne is currently 41%, which trails the Wyoming state average of 48%. Occupancy varies significantly by property size—studios average just 24%, while 5-bedroom properties lead at 61%. Seasonality also plays a role, with summer months seeing notably higher demand driven by events and tourism.

How much do Airbnb hosts make in Cheyenne?

On average, Airbnb hosts in Cheyenne earn approximately $1,786 per month or $21,443 per year based on trailing 12-month booking data. Revenue varies widely by property size: studios bring in around $898/month, while 5-bedroom homes average $4,055/month. July is by far the highest-earning month at $4,602 on average, largely fueled by Cheyenne Frontier Days.

Is Cheyenne a good market for Airbnb investment?

Cheyenne earns a Rabbu ROI Score of 41 out of 100, categorized as a 'Competitive Opportunity.' While occupancy stability is above average, the revenue-to-price ratio and market growth trend score below average. Investors who target larger properties and optimize for the July peak season can still find worthwhile returns, but deal sourcing needs to be selective given rising competition from a 174% year-over-year increase in listings.

What is the average daily rate (ADR) for Airbnb in Cheyenne?

The average daily rate in Cheyenne is $125, significantly lower than the $569 Wyoming state average—reflecting Cheyenne's positioning as a more affordable, non-resort market. ADR scales considerably with property size, ranging from $82 for 1-bedroom units up to $302 for 5-bedroom homes.

Are short-term rentals legal in Cheyenne?

Short-term rentals operate in Cheyenne, but hosts should verify current permit and registration requirements with the City of Cheyenne and Laramie County. Regulations can evolve, so it's important to confirm zoning allowances, any HOA restrictions, and tax obligations before listing a property.

When is peak season for Airbnb in Cheyenne?

Peak season in Cheyenne centers squarely on July, when average monthly revenue hits $4,602—more than four times the winter lows of around $1,020 in January. The surge aligns with Cheyenne Frontier Days and summer travel along the I-25 corridor. June through September generally represents the strongest earning window, with revenues ranging from roughly $1,878 to $2,082 outside of July.

How many Airbnbs are there in Cheyenne?

As of April 2026, there are 188 active Airbnb listings in Cheyenne. The market has seen explosive growth with a 174% year-over-year increase in listings. One-bedroom properties make up the largest share of supply at 71 listings, followed by 2-bedrooms (55) and 3-bedrooms (36).

How is Airbnb revenue calculated in Cheyenne?

The annual and monthly revenue figures shown for Cheyenne are derived from the trailing 12 months of historical booking performance for active comparable Airbnb listings in the market—not a forward-looking projection. Rabbu averages each comparable listing's actual revenue per available night (RevPAN) by month over the past year, removes regional outliers, and rolls the results up to a market-level historical average. This approach anchors the figures to what hosts have actually earned recently while naturally reflecting seasonal peaks (like July) and slower months (like January) because each month uses its own historical performance. Individual results can vary based on property quality, pricing strategy, and operational management.

About Rabbu Market Data

Rabbu provides Airbnb and short-term rental market data and statistics across the United States. Our mission is to empower investors with accurate insights and easy-to-use tools, so they can confidently identify and act on the best opportunities in the Airbnb market.

What this data includes

• Regularly updated active Airbnb and STR listing counts for Cheyenne and surrounding areas
• Occupancy rate, average daily rate, and RevPAN trends by property size
• Monthly and annual revenue benchmarks based on trailing 12-month booking data
• Home value estimates sourced from Zillow Home Value Index (ZHVI)
• Supply growth and amenity prevalence data across active listings

Sources and disclaimers

Rabbu proprietary analytics as of Apr, 27 2026 and Zillow Home Value Index (ZHVI) as of Mar, 17 2026. Revenue projections are estimates based on comparable properties and do not guarantee future performance. Data reflects trailing 12-month averages and may not capture very recent market shifts or regulatory changes. Individual property results will vary based on location, condition, pricing strategy, and management quality.