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Cheyenne, WY
Generally Investor Friendly
Local STR Agent
Local STR Agent

Important note on allowed status
Tax overview matrix (for quick planning)
Notes and cautions
Cheyenne hosts earn a median $23,364/year with $100 ADR and 85% occupancy.
Top performers pull in $30,961+ per year.
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Revenue data, top neighborhoods, seasonal trends, and the key regulations for Cheyenne, Wyoming in one email.




Cheyenne is the capital of Wyoming and the seat of Laramie County, home to a population of roughly 65,000. Set on the high plains at the foot of the Laramie Range, it carries a strong Western character that mixes Old West history with the bustle of a working state capital. The city is best known for its annual Cheyenne Frontier Days celebration, one of the largest outdoor rodeos in the world, and serves as a convenient northern gateway to Denver and the Front Range of Colorado, sitting about 100 miles north of Denver. It also offers easy access to outdoor recreation in the surrounding Rocky Mountain foothills, the Snowy Range, and the Medicine Bow National Forest.
Each July, Cheyenne Frontier Days transforms the city into a hub of rodeo competition, Western heritage, concerts, and carnival rides. The ten-day event draws visitors from across the country and is widely regarded as the "Daddy of 'em All" among rodeos, giving short-term rentals a reliable peak-season booking window for travelers who want a front-row seat to the action.
Just outside the city, Terry Bison Ranch offers a taste of Wyoming ranching life with bison tours, horseback rides, and a Western-style restaurant. Located about ten minutes south of downtown along Interstate 25, the ranch is a popular stop for families and a fitting complement to the rodeo experience, especially for guests who want a half-day activity without venturing far from the city.
For travelers looking to trade city streets for pine forest and open water, Curt Gowdy State Park sits roughly 25 miles west of Cheyenne between the city and Laramie. The park wraps around two reservoirs with hiking trails, mountain biking paths, fishing, and campgrounds, making it a popular day trip or overnight escape for outdoor-minded guests who still want a comfortable home base in town.
Back in town, the Wyoming State Capitol anchors the downtown core and welcomes visitors for free tours of its historic chambers and dome. The surrounding civic district, paired with the restored Cheyenne Depot plaza and downtown's small museums and storefronts, gives the city center an easy-to-explore layout that works well for short-stay guests.
For investors and hosts, Cheyenne offers a steady mix of seasonal demand drivers: the summer rodeo rush, fall foliage trips into the Snowy Range and Vedauwoo, and winter travelers passing through on I-25 between Denver and the northern Rockies. Its combination of genuine Western character, government employment stability, and proximity to both Denver and Wyoming's outdoor playgrounds makes it an under-the-radar base with consistent year-round potential for short-term rental occupancy.
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