Cost of Living in Sheridan County, Montana

$749/mo

Median Monthly Rent

$111,600

Median Home Value

9% below state averageUnaffordable

At a Glance

Median Monthly Rent

$749/mo

9% below state average

Median Home Value

$111,600

60% below national

Rent-to-Income Ratio

30.0%

% of income spent on rent

Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)

Affordability Rating

Unaffordable

Rent over 50% of income

How Sheridan County Compares

Median monthly rent comparison

Sheridan County$749/mo

Montana Average$825/mo

National Median$1,163/mo

Detailed Housing Stats

$749/mo

Median Gross Rent

$111,600

Median Home Value

$706/mo

Monthly Owner Cost

30.0%

Rent-to-Income Ratio

Data Story

About Cost of Living in Sheridan County, Montana

Sheridan balances affordability with modest income

Sheridan County's 14.1% rent-to-income ratio sits slightly below the national benchmark, even though median household income trails the national average by 15%. At $749 monthly rent on $63,654 income, Sheridan residents maintain reasonable housing affordability.

Better than average Montana affordability

Sheridan's 14.1% rent-to-income ratio beats Montana's state average of 15.9%, positioning it among the state's more manageable rental markets. Median rent of $749 sits close to the state average of $825, contributing to this positive positioning.

Mid-range rents, solid affordability ratio

Sheridan's $749 rent falls between Roosevelt ($707) and Richland ($866), while its 14.1% burden ratio outperforms most neighbors. Only Rosebud's 13.7% ratio surpasses Sheridan in proportional affordability within this region.

Sheridan's balanced housing allocation

Renters allocate 14.1% of a $63,654 annual income—$749 monthly—to housing, among the lower burdens in this county group. Homeowners spend $706 monthly for median homes valued at just $111,600, making Sheridan an exceptional ownership market with 13.3% of income going to housing.

Strong choice for first-time homebuyers

Sheridan County combines above-average Montana income ($63,654) with below-average ownership costs (median home: $111,600), creating Montana's most accessible homeownership market. If building equity matters more than rental flexibility, Sheridan warrants top consideration.

Affordability Calculator

See how your income compares to housing costs in Sheridan County

Your Annual Household Income

Rent Burden

14.1%

of gross income

Max Housing (28% Rule)

$1,485

per month

Owner Cost Burden

13.3%

of gross income

You can likely afford the median home in Sheridan County

Median home value is $111,600. Estimated monthly cost: $891 vs. your max of $1,485.

Rent Affordability Guide

Your rent-to-income ratio14.1%

Recommended max30.0%

Frequently Asked Questions

What is the cost of living in Sheridan County, Montana?

Sheridan County, Montana has a median monthly rent of $749/mo and a median home value of $111,600. The affordability rating is Unaffordable, with rent making up approximately 30.0% of median household income.

What is the median rent in Sheridan County?

The median gross rent in Sheridan County is $749/mo. This is 9% below state average for Montana.

Is Sheridan County affordable?

Sheridan County is rated Unaffordable based on rent-to-income ratio of 30.0%. Spending over 50% of income on rent is generally considered unaffordable.

How does Sheridan County's rent compare to the state average?

Sheridan County's median rent of $749/mo is 9% below state average of $825/mo for Montana.

What is the median home value in Sheridan County?

The median home value in Sheridan County, Montana is $111,600. This is 60% below the national median home value of $281,900.