We investigate the magnetoelastic properties of Co25Fe75 and Co10Fe90 thin films by measuring the mechanical properties of a doubly clamped string resonator covered with multilayer stacks containing these films. For the magnetostrictive constants, we find λ Co25 Fe75 = (-20.68 ± 0.25) × 10-6 and λ Co10 Fe90 = (-9.80 ± 0.12) × 10-6 at room temperature, in contrast to the positive magnetostriction previously found in bulk CoFe crystals. Co25Fe75 thin films unite low damping and sizable magnetostriction and are thus a prime candidate for micromechanical magnonic applications, such as sensors and hybrid phonon-magnon systems.