You say you're willing to commute, but wait till the snow starts flying, and you'll probably change your mind. I also thought about living outside of town when I first got orders here back in 2006, but that changed when I actually drove out and looked at properties out near Burns, Carpenter, Horse Creek, areas. If you like flat open prairie with no trees in sight, go for it.
I live in a newer (2004) development on the "decent" side of South Cheyenne, when a house goes up for sale in this neighborhood it doesn't stay on the market long. I'd say the houses that have recently sold have been in the low $200k range. There are currently three newer developments in this area: Harmony Hills, Harmony Meadows, Harmony Point. Most of these houses were built in the early 2000s. Multiple elementary schools, Junior high, and high school smack dab in the center of this part of Cheyenne. If you never been here, then you may find it refreshing to be able to drive from one side of town to the other in only a few minutes. Morning and afternoon rush hours maybe last about 30 minutes for city streets, and basically non-existent for the interstate.
North, North East Cheyenne is where you'll find the McMansions, and Ranchettes, prices will be in the $300+ ranges.
Not much crime in Cheyenne, especially violent crimes/murders/homicides/etc. Sure we have crime, but no where near as much as you'd hear about on the news in a place like Phoenix. Honistly, I've lived here since 2006, and the only crime committed against me was someone stole some change out of my car...which I had left unlocked overnight by accident.
For places to shoot, I'd say look into joining the Otto Road Shooting Range. They shut the NF down for shooting during the summer because there are so many folks up there this time of year. You'd think CO doesn't have any camping areas based on the amount of CO license plates you see. Fishing you have some like right here in town, and Crow, Crystal, Granite Reservoirs about 17 miles to the west. If you like to catch Brook trout, the beaver ponds up in the Pole Mountain area have a bunch. Deer, Antelope, Elk, Moose, Coyote, Grey/Red Fox, and all kinds of other animals roam around in the mountains and prairies around here.
Hopefully your job allows you free time to enjoy the area.