Cost of Living in Cheyenne Wells, CO

With a cost of living index of 75, Cheyenne Wells, CO is one of the most affordable cities in the country. Living here is 25% cheaper than the national average and 39% below the Colorado state average of 114. Cheyenne Wells is a small community of 949 residents.

Housing costs are the biggest factor in Cheyenne Wells's cost of living. The median monthly rent is $867 (34% below the US median of $1,319), and the median home value sits at $159,800 (48% below the national median of $304,900). At current prices, the median home costs roughly 2.6x the median household income — well within traditional affordability guidelines.

The median household income in Cheyenne Wells is $61,705, which is 18% lower than the national median of $75,149. Residents spend roughly 17% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.