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City Report · IN

Sheridan

Pop. 3,205·24th most expensive in Indiana·Rental market data updated monthly for Sheridan, IN
Median rent (all units)
$1,525/mo
Year-over-Year
Stable
Month-over-Month
+5.2%
vs US Median
-$440
Rising (Monthly)
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Most AffordableMost Expensive
Sheridan · $1,525
More affordable than 73% of US cities · National median $1,965/mo
Affordability
28% of income
AFFORDABLE
0%30% benchmark60%+

At $1,525/mo, rent takes about 28% of the local median household income, comfortably within the 30% benchmark.

Income to afford
$61,000/yr
Local median income
$66,534/yr
Based on the 30%-of-income rule using Sheridan's median rent and household income. See the full affordability breakdown →
Medians by bedroom

Rent by unit size

Studio
$890
1 BR
$1,040
2 BR
$1,220
3 BR
$1,590
4 BR+
$1,920
Research median
$1,220/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: March 21, 2026

Annual cost
$18,300/yr
At $1,525/mo median
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 0.0% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+0.0% YoY, +5.2% MoM), not inventory.
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Demographics

Who lives here

Sheridan, IN is majority owner-occupied, 23.7% of residents hold a bachelor's degree or higher.

Population
3,205
Median income
$66,534
Median age
39.8
Renters
35%
Age distribution
20%
26.8%
22.5%
14.5%
16.2%
Under 1820%
18–3426.8%
35–5422.5%
55–6414.5%
65+16.2%
Gender
49.6%
50.4%
Male49.6%
Female50.4%
Race & ethnicity
97.9%
White97.9%
Hispanic2.9%
Education (25+)
45.9%
21.9%
23.7%
No HS diploma8.5%
HS diploma45.9%
Some college21.9%
Bachelor's+23.7%
Housing tenure
65%
35%
Owner65%
Renter35%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Sheridan, IN has changed in 5 years

Income
$54,049 → $66,534
up 23.1%
Population
3,486 → 3,205
down 8.1%
Renter share
34.3% → 35%
+0.7 pts
Bachelor's+
17.6% → 23.7%
+6.1 pts
Median age
36 → 39.8
+3.8 yrs

On the earnings side, the typical household in Sheridan, IN now reports about $66,534, up from $54,049 in 2021. The population has contracted by 8.1% since 2021, moving from about 3,486 residents to roughly 3,205. College-educated residents now make up 23.7% of adults here, versus 17.6% in 2021.

Community

Discussions about Sheridan

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View Sheridan rent history (2015–2026) →
Salary vs rent

Can you afford rent in Sheridan on your salary?

At $1,525/mo, how Sheridan rent compares to typical pay (30% rule).

By apartment size

Sheridan rent by bedroom count

Median rent for each apartment size in Sheridan. Click any size for full breakdown.

Local insights

Tips for renters in Sheridan

About renting in Sheridan, IN

Last updated: March 21, 2026

The median rent in Sheridan is $1,525/mo as of March 2026. A studio apartment averages $890/mo while a 2-bedroom runs $1,220/mo. One-bedroom apartments average $1,040/mo and 3-bedroom units go for $1,590/mo.

At 28% of local median household income ($66,534/yr), Sheridan ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

Is Sheridan an affordable city for renters?

Sheridan is considered affordable for renters. At $1,525/mo, rent takes approximately 28% of the local median household income ($66,534/yr). The standard benchmark is 30%. Sheridan falls comfortably within that range.

How much income do you need to rent in Sheridan?

To keep rent at or below 30% of gross income, you would need to earn at least $61,000/year (~$29/hour full-time) to afford the median rent of $1,525/mo in Sheridan. The local median household income is $66,534/yr, meaning the typical Sheridan household meets that threshold.

Is rent going up or down in Sheridan?

Rent in Sheridan has been relatively stable over the past year, with a 0.0% change year over year as of March 2026.

How does Sheridan rent compare to other cities in Indiana?

Sheridan is middle-of-the-pack for Indiana for rent, ranking #24 out of 62 tracked cities at $1,525/mo.

What percentage of Sheridan residents rent vs. own?

According to Census data, approximately 35% of Sheridan households are renters, while 65% are owner-occupied. Sheridan leans toward homeownership, which can mean a smaller rental inventory.

How does Sheridan rent compare to the national average?

Sheridan's median rent of $1,525/mo is $440 (22%) below the US national median of $1,965/mo. Within Indiana, it ranks #24 out of 62 tracked cities.
Income Affordability
28%
AFFORDABLE

At $1,525/mo, rent takes ~28% of Sheridan's median household income ($66,534/yr). The standard benchmark is 30%.

Sheridan 28%Benchmark 30%
State income tax3.05%
Run the Sheridan affordability calculator →
Lowest-rent ZIP codes in Sheridan
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Sheridan, IN

Recent submissions

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