Side-by-side comparison of home prices, mortgage payments, and housing costs between Casper and Cheyenne, Wyoming. Using Wyoming's 0.61% property tax rate and $1,800/year insurance. Updated for 2026.
Casper edges out Cheyenne in affordability, saving you roughly $329/month on total housing costs. Both cities are in Wyoming, so property tax rates and insurance costs are the same — the difference comes down to home prices and what you get for your money in each market.
Estimated PITI payments assuming 10% down, 6.5% rate, 30-year fixed mortgage with PMI. Uses Wyoming's 0.61% property tax rate.
Buying in Casper saves you approximately $329/month ($3,948/year) compared to Cheyenne, based on median home prices with identical loan terms.
Casper is the better choice for first-time buyers, with a median price of $275K versus $325K in Cheyenne. That's $50K less to save for a down payment. You'd need roughly $10K for an FHA 3.5% down payment in Casper, compared to $11K in Cheyenne. Wyoming offers the WCDA Spruce Up Wyoming program (Below-market rate loans) which applies in both cities.
Casper has the better price-to-rent ratio at 21.2x versus 22.2x in Cheyenne. A lower ratio generally signals better rental income relative to purchase price. Average rent in Casper is $1,080/month on a $275K median home, making it a stronger candidate for buy-and-rent investors.
Cheyenne (pop. 65,132) offers more amenities, schools, and services typical of a larger city, while Casper (pop. 58,686) may offer a quieter, more community-oriented lifestyle. Families on a budget may prefer Casper, where lower housing costs free up more income for childcare, education, and savings.