Cost of Living in Sheridan County, Wyoming
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 #1,599 of 3,144 counties for affordability (bottom 49%)
Data Story
About Cost of Living in Sheridan County, Wyoming
Sheridan's rent burden tops national norms
Renters in Sheridan County spend 16.1% of their income on housing, edging above the national baseline. That's on par with the nation's affordability squeeze, where housing typically consumes more of a household's paycheck in rural and mountain communities.
A touch above Wyoming's affordability line
Sheridan's 16.1% rent-to-income ratio sits 0.6 percentage points higher than Wyoming's state average of 15.5%. Among Wyoming counties, this places Sheridan in the middle tier—more affordable than mountain resort areas but carrying slightly more housing pressure than the state norm.
Sheridan's rents align with regional peers
At $950 per month, Sheridan's median rent sits between Sublette County ($1,116) and Sweetwater County ($913). The county offers a moderate middle ground for renters seeking stability without the premium prices of nearby mountain counties.
How Sheridan households allocate income
On a median household income of $70,855, Sheridan renters pay $950 monthly while homeowners carry a $1,181 monthly mortgage. Renters dedicate 16.1% of income to housing, while homeowners spend roughly 20% on their monthly costs—a significant gap that reflects Wyoming's homeownership premium.
Consider Sheridan for balanced living costs
If you're relocating to Wyoming, Sheridan offers moderate housing costs alongside regional job opportunities in healthcare and tourism. Compare its 16.1% rent ratio against mountain competitors like Teton (18.7%) and you'll see genuine affordability gains.
Cost of Living Advisory: Sheridan County
Affordability Verdict
Sheridan County is affordable for renters, with a median gross rent of $950/month representing approximately 16.1% of median household income. The rent burden (GRAPI) stands at 28.0%.
Rent vs. Own
At $950/month rent versus $1,181/month in owner costs, renting is roughly $231/month cheaper — a 20% difference.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $38,000/year. For owner costs at the 28% rule, the required income is roughly $50,614/year. With a median household income of $70,855, most households can comfortably afford rent here. Notably, 28.0% of renter households in Sheridan County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Sheridan County sits 6% more expensive than Carbon County ($894/month) in terms of median gross rent.
Affordability Calculator
See how your income compares to housing costs in Sheridan County
Rent Burden
16.1%
of gross income
Max Housing (28% Rule)
$1,653
per month
Owner Cost Burden
20.0%
of gross income
The median home in Sheridan County may be a stretch
Median home value is $352,200. Estimated monthly cost: $2,812 vs. your max of $1,653.
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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