Market Overview
Home Prices in Cheyenne Wells, CO
The median home value in Cheyenne Wells, CO is $201,880 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's down 0.5% compared to a year ago and up 4.4% from two years prior.
Compared to the U.S. national median of $410,000, homes in Cheyenne Wells are priced51% below average.
Over the past five years, Cheyenne Wells home values have risen by approximately34.6%, reflecting strong long-term appreciation in this market.
Price History
Cheyenne Wells Home Price Trend
2020
$120,290
$120K
—
2021
$149,979
$150K
+24.7%
2022
$179,617
$180K
+19.8%
2023
$185,097
$185K
+3.1%
2024
$194,421
$194K
+5.0%
2025
$202,892
$203K
+4.4%
2026
$201,880
$202K
-0.5%
City Comparison
Cheyenne Wells vs. National Median
🏠 Cheyenne Wells
$201,880
National Median
$410,000
At $201,880, homes in Cheyenne Wells cost 51% below the national median of $410,000. This makes Cheyenne Wells a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Cheyenne Wells?
20% Down Payment
$40,376
on $201,880
Monthly P&I
$1,053/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,337/mo
incl. taxes & insurance
Income Needed
$53,480
gross annual (30% rule)
10% Down Option
$20,188
+ PMI applies
Loan Amount (20% dn)
$161,504
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Cheyenne Wells, CO?
The median home value in Cheyenne Wells is $201,880 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's down 0.5% year-over-year.
How much have home prices changed in Cheyenne Wells?
Over the past year, home values in Cheyenne Wells have decreased by 0.5%. Over five years, prices have risen approximately 34.6%.
How much do I need to earn to buy a home in Cheyenne Wells?
To comfortably afford the median home price of $201,880 with a 20% down payment ($40,376) at today's rates (6.8%), you'd need a gross annual income of approximately $53,480. This assumes keeping total housing costs at or below 30% of gross income.
How does Cheyenne Wells compare to the national average home price?
The national median home value is approximately $410,000. At $201,880, homes in Cheyenne Wells are 51% below the national average.