Cost of Living in Sheridan County, Montana
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Sheridan County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Sheridan County ranks #1,675 of 3,144 counties for affordability (bottom 47%)
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.
Cost of Living Advisory: Sheridan County
Affordability Verdict
Sheridan County is affordable for renters, with a median gross rent of $749/month representing approximately 14.1% of median household income. The rent burden (GRAPI) stands at 30.0%.
Rent vs. Own
The median rent in Sheridan County is $749/month, while owner costs run $706/month. Owning saves approximately $43/month.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $29,960/year. For owner costs at the 28% rule, the required income is roughly $30,257/year. With a median household income of $63,654, most households can comfortably afford rent here. Notably, 30.0% of renter households in Sheridan County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Compared to Beaverhead County where rent averages $800/month, Sheridan County is approximately 6% less expensive.
Affordability Calculator
See how your income compares to housing costs in Sheridan County
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
Income Needed Calculator
See how much you need to earn to comfortably afford housing
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Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.
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