Rental Benchmark Overview
2-Bedroom Benchmark Rent
$1,174$14,088 per year · HUD Fiscal Year 2026Fair market rent & 30% rule in Cheyenne, WY
Official HUD Fair Market Rents evaluated against local household income benchmarks.
Fair Market Rent Schedule & Wage Requirements: Cheyenne, WY
Calculations assume standard housing affordability guidelines where shelter costs consume no more than 30% of gross income, based on full-time employment of 2,080 annual working hours.
| Bedroom Type | Monthly Rent | Annual Rent | Min. Annual Income | Hourly Wage (40h/wk) |
|---|---|---|---|---|
| Studio / Efficiency | $809 | $9,708 | $32,360 | $15.56/hr |
| 1-Bedroom Apartment | $917 | $11,004 | $36,680 | $17.63/hr |
| 2-Bedroom ApartmentStandard Benchmark | $1,174 | $14,088 | $46,960 | $22.58/hr |
| 3-Bedroom Home | $1,633 | $19,596 | $65,320 | $31.40/hr |
| 4-Bedroom Home | $1,969 | $23,628 | $78,760 | $37.87/hr |
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Frequently Asked Questions About Rent in Cheyenne, WY
What is the Fair Market Rent for a 2-bedroom in Cheyenne, WY?
For Fiscal Year 2026, the official HUD Fair Market Rent for a 2-bedroom home in Cheyenne, WY is $1,174 per month ($14,088 per year).
What hourly wage is needed to afford rent in Cheyenne, WY?
To comfortably afford a 2-bedroom apartment at $1,174/month without exceeding 30% of income on rent, a full-time worker (40 hours/week, 52 weeks/year) must earn at least $22.58 per hour ($46,960/year).
What are the HUD Fair Market Rents by bedroom count in Cheyenne, WY?
Official 2026 HUD rents in Cheyenne, WY are: Studio: $809/mo, 1-Bedroom: $917/mo, 2-Bedroom: $1,174/mo, 3-Bedroom: $1,633/mo, and 4-Bedroom: $1,969/mo.
How do HUD Fair Market Rents compare to local incomes in Cheyenne, WY?
At the local Census ACS median household income of $78,839/year ($6,570/month), the benchmark 2-bedroom Fair Market Rent represents 17.9% of monthly income.
How is the 30% housing affordability standard calculated in Cheyenne, WY?
The federal 30% rule states that housing costs should not exceed 30% of gross household income. For a 2-bedroom rent of $1,174/month, the required minimum annual gross income is calculated as ($1,174 × 12) ÷ 0.30 = $46,960 per year.