Cheyenne is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Cheyenne are considered greater risk due to market dynamics. Interest rates for multifamily loans in Cheyenne are higher than the national average. Cheyenne apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Cheyenne.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Cheyenne are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.56% - 7.30% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.40% - 6.80% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 5.68% - 5.92% |
| 7 Year Fixed | 5.39% - 5.63% |
| 10 Year Fixed | 5.28% - 5.52% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.36% - 7.10% |
| 7 Year Fixed | 6.26% - 6.77% |
| 10 Year Fixed | 6.20% - 6.60% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 5.70% - 5.85% |
| 7 Year Fixed | 5.71% - 5.86% |
| 10 Year Fixed | 5.71% - 5.86% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Cheyenne.
The city of Cheyenne in Laramie County has a population of 64,235. The median rent in Laramie County for a 2 bedroom is $945. The median Cheyenne resident is 37 years old with a yearly income of $35,481. The average family has 2.91 members and a median household income of $64,598. Cheyenne has a 30% higher education rate. The unemployment rate in Cheyenne is 5.4%.
34.1% of Cheyenne households are renters.
27.2% median household income spent on rent.
Bedrooms |
Laramie County 1 |
Wyoming 2 |
National 2 |
|---|---|---|---|
| Studio | $737 | $682 | $737 |
| 1 bedroom | $742 | $718 | $813 |
| 2 bedroom | $945 | $896 | $1,015 |
| 3 bedroom | $1,352 | $1,212 | $1,325 |
| 4 bedroom | $1,636 | $1,504 | $1,521 |
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