Rent is insane in Cheyenne regardless of the type of dwelling. Always has been. Any military town/city has always been this way as unscrupulous and greedy landlords know GIs have no other option when there is a waiting list for base housing at many installations. It disproportionately affects junior enlisted up to E5s. Housing allowances are better now but don't cover rent. Cheyenne is getting worse as people are moving here with cash in hand to buy outright without a mortgage. I am all about landlords making money for upkeep and profit but some are just downright greedy and and do not reinvest into the property to keep them nice. Slum lords
The mortgage payment on a $300K investment property is about $2100/mo. With minimal cash flow, rent would be around $2,300. I've seen 3 br rentals listed for $1,600, and people scream "GREED"!!. I feel like the average renter has no concept of how much it costs to own at current interest rates. The rent in Cheyenne is relatively reasonable.
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Rent is insane in Cheyenne regardless of the type of dwelling. Always has been. Any military town/city has always been this way as unscrupulous and greedy landlords know GIs have no other option when there is a waiting list for base housing at many installations. It disproportionately affects junior enlisted up to E5s. Housing allowances are better now but don't cover rent. Cheyenne is getting worse as people are moving here with cash in hand to buy outright without a mortgage. I am all about landlords making money for upkeep and profit but some are just downright greedy and and do not reinvest into the property to keep them nice. Slum lords
Rentals are pricey (for what you get) and in short supply all over the state
The mortgage payment on a $300K investment property is about $2100/mo. With minimal cash flow, rent would be around $2,300. I've seen 3 br rentals listed for $1,600, and people scream "GREED"!!. I feel like the average renter has no concept of how much it costs to own at current interest rates. The rent in Cheyenne is relatively reasonable.
Socialism at its finest
Adding $60 a sq ft is insane. People think rent is out of control now?!
@@TheWyomingProject so a small 800sqft apartment would now be roughly $48.000 a month. Yikes.
@@TheWyomingProjectand of course, people will just leave before paying that, causing property values to drop but the politicians don't care.