Cheyenne WY Rental market

[David Napier]

Hello BP, I'm looking for my first deal (buy and hold) and I having been looking at Cheyenne WY. Just checking if anyone is currently renting in that market? Trying to find out how the rental market is there.

[Daniel Holbrook]

Hi David. Rents have steadily increased in recent years. There is a strong new-construction pipeline, but rent demand is keeping up or even outpacing supply. I haven't seen anything close to the 1% rule in MLS, but people are finding a few good deals. I have a couple properties that are moderate for cash-flow, but good for appreciation. Appreciation in Cheyenne is over 5% per year by most metrics.