Your Cheyenne County, CO personal loan guide

Cheyenne County by the numbers

The latest five-year Census estimate puts Cheyenne County's population at 1,741; only 58 of Colorado's 64 county-level areas are larger. Spread over 1,778 square miles, that works out to roughly 1.0 residents per square mile. It sits outside every metropolitan statistical area in the July 2023 OMB delineation. Cheyenne Wells is the biggest of its 3 Census places, at roughly 979 people (56% of the county total). With so few households sampled, Cheyenne County estimates can move a lot between releases.

The Cheyenne County job picture

Education and health care (26%), agriculture, forestry and mining (18%) and construction (10%) lead Cheyenne County's job mix. Relative to Colorado (2%), agriculture, forestry and mining is 16 points bigger in Cheyenne County (18%). The survey's unemployment rate for Cheyenne County averages 0.4% over 2020 to 2024 (state: 4.6%). About 75% drive to work alone and 9% have trips of 45 minutes or more.

If your hours swing with the season or with overtime, size a loan payment against your base pay, not your best month.

Homes and rents, Cheyenne County

$926 a month is the median gross rent in Cheyenne County, 47% below the state. By the Census definition, 40% of Cheyenne County renters are cost-burdened. Cheyenne County homes are worth $187,500 at the median, a 2.6-to-1 ratio to income. In Cheyenne County, 73% of occupied homes are owned by the people living in them. Half the housing stock was built before 1968.

Cheyenne County owners: get one secured and one unsecured quote, then compare the total cost and what you would put up as collateral (side by side).

Cheyenne County against other Colorado counties

Where Cheyenne County lands at the extremes of Colorado's county rankings:

• On households without a vehicle, Cheyenne County sits near the bottom of Colorado at 0.3%, the lowest of 64. Car ownership is close to universal, and so are repair bills.
• The ACS unemployment rate: 0.4% in Cheyenne County. Only 1 of 63 Colorado counties are lower. Low unemployment does not lower your rate; your credit does.
• On population, Cheyenne County sits near the bottom of Colorado at 1,741, 6th lowest of 64. In a small county, the nearest lender may not be the best; compare online offers too.

Paychecks and income spread in Cheyenne County

Cheyenne County households have a median income of $70,865 (ACS 2020 to 2024), which ranks 36th of 64 in Colorado.

22% under $35,000 and 35% at $100,000 or more: that is the Cheyenne County income split. 8.2% of residents fall below the federal poverty line (statewide: 9.4%). A household earning below the $70,865 median should test any payment carefully; one earning above it should still pick the shortest term it can manage.

Cheyenne County and the counties next door

Six nearby counties, 32 to 59 miles away by the straight-line distance between their centers. Income ranges from $58,618 in Kiowa County to $80,565 in Greeley County; 1 of these neighbors top Cheyenne County's median. Some neighbors are in Kansas. Lender licensing is state by state, so a loan for a Cheyenne County resident follows Colorado rules.

Places inside Cheyenne County

3 Census places fall mainly inside Cheyenne County; the 3 biggest are below. They account for 1,305 residents, leaving about 25% of the county in unincorporated, unnamed areas. Live in one of these Cheyenne County communities, or between them? This is your local guide.

CDP: census-designated place, an unincorporated community mapped for statistics.

Cheyenne County demographics against Colorado

In Cheyenne County, 26% of adults have at least a four-year degree (46% in Colorado). Uninsured, Cheyenne County: 5.3%; Colorado: 7.7%.

Borrowing situations common in Cheyenne County

A few patterns in the Cheyenne County data, and the practical point behind each:

• Requirements. Lenders weigh credit history, documented income and existing debt (what to gather).
• Check your file. An error fixed before you apply can change the offers a Cheyenne County borrower sees (free reports).
• Scams. A fee demanded before funding is a red flag; report it at ReportFraud.ftc.gov (spotting scams).

A Cheyenne County household budget, worked through

Lenders compare monthly debt payments with gross monthly income, the debt-to-income ratio. For a Cheyenne County household at the medians it works out like this; treat it as an illustration only.

• $5,905 a month: gross income for a household at the Cheyenne County median
• Median rent: $926, or 16 cents of every gross dollar
• 43% debt-to-income limit: $1,613 left for all other debt payments

These are gross figures; take-home pay in Cheyenne County will be lower after taxes and deductions.

Checking a lender's license in Colorado

Consumer lenders serving Cheyenne County are licensed by the state, not the county; in Colorado that is the Colorado Division of Banking. A second Colorado office, the Colorado Attorney General's office, which administers the state's Uniform Consumer Credit Code, covers consumer credit. Problems with a lender can also go to the CFPB. See the Colorado state guide for the statewide picture.

Four steps for Cheyenne County borrowers

A short checklist for Cheyenne County borrowers:

• Price the Cheyenne County expense first and borrow that amount, no more.
• Prequalify with soft pulls where offered, then compare in writing.
• Confirm the lender is licensed in Colorado.
• Ask about early-payoff penalties.

Other Colorado guides

Next step up from Cheyenne County:

• Colorado state guide