Department of Numbers

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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 2013 122.9
September 2013 117.7
June 2013 120.5
March 2013 118.6
December 2012 118.1
September 2012 116.3
June 2012 116.6
March 2012 114.3

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 2013 102.7
September 2013 98.4
June 2013 100.7
March 2013 99.1
December 2012 98.7
September 2012 97.2
June 2012 97.5
March 2012 95.6

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
February 2014 $273,768
January 2014 $269,593
December 2013 $268,643
November 2013 $275,072
October 2013 $277,376
September 2013 $267,698
August 2013 $268,643
July 2013 $271,508
June 2013 $281,394
May 2013 $300,212
April 2013 $303,591
March 2013 $299,098
February 2013 $300,585

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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