Department of Numbers

Cheyenne, Wyoming Home Affordability

The data below measures home affordability for the Cheyenne, Wyoming metropolitan area using price-to-income and price-to-rent metrics.1 The maximum affordable loan amount for the median household income is also calculated. You can also compare Cheyenne home affordability to other cities.

Cheyenne, Wyoming Home Price-to-Income Ratios

The second chart shows a history of the ratio as an index calculated from the Federal Housing Finance Agency's Cheyenne HPI series. Median household income data for Cheyenne is from the Census American Community Survey.

Price-to-Income Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Cheyenne, Wyoming Home Price-to-Income Ratio History

Date FHFA (Index Ratio)
December 2011 128.1
September 2011 126.5
June 2011 127.0
March 2011 128.0
December 2010 127.2
September 2010 128.6
June 2010 127.6
March 2010 126.2
December 2009 123.0

Cheyenne, Wyoming Home Price-to-Rent Ratios

The chart below shows an index of the rent ratio calculated from the metro FHFA HPI series and the Cheyenne median contract rent data from the Census ACS.

Price-to-Rent Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Cheyenne, Wyoming Home Price-to-Rent Ratio History

Date FHFA (Index Ratio)
December 2011 120.2
September 2011 118.6
June 2011 119.2
March 2011 120.0
December 2010 119.3
September 2010 120.6
June 2010 119.7
March 2010 118.3
December 2009 108.3

Cheyenne, Wyoming Inferred Affordable Mortgage

The inferred affordable mortgage value is determined by taking the median household income for Cheyenne, Wyoming and calculating the mortgage 30% of that income could afford. Traditionally, 30% of income is the maximum amount a homeowner could use towards a home loan. Inferred affordable loan values are calculated from ACS median household income and average monthly mortgage rates.

Inferred Affordable Mortgage

Cheyenne, Wyoming Inferred Affordable Mortgage History

Date Inferred Mortgage
January 2012 $257,944
December 2011 $256,697
November 2011 $255,767
October 2011 $253,313
September 2011 $252,098
August 2011 $247,327
July 2011 $239,296
June 2011 $240,419
May 2011 $236,798
April 2011 $231,385
March 2011 $231,385
February 2011 $228,487
January 2011 $233,527

1. Specifically, home prices are from the non seasonally adjusted FHFA all-transactions quarterly series. Dollar ratios are calculated using NAR metro prices when available. Rent and income data are from the Census ACS and are carried forward into the following year prior to release of the new data. ↩

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