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City Report · WY

Sheridan

Pop. 19,285·3rd most expensive in Wyoming·Rental market data updated monthly for Sheridan, WY
Median rent (all units)
$1,423/mo
Year-over-Year
Stable
Month-over-Month
-10.5%
vs US Median
-$542
Falling (Monthly)
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Most AffordableMost Expensive
Sheridan · $1,423
More affordable than 80% of US cities · National median $1,965/mo
Affordability
27% of income
AFFORDABLE
0%30% benchmark60%+

At $1,423/mo, rent takes about 27% of the local median household income, comfortably within the 30% benchmark.

Income to afford
$57,000/yr
Local median income
$62,867/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
$830
1 BR
$830
2 BR
$1,090
3 BR
$1,310
4 BR+
$1,700
Research median
$1,090/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: June 22, 2026

Annual cost
$17,076/yr
At $1,423/mo median
Rent Market Meter
Strong Renter's Market
Renter's MarketBalancedLandlord's Market
Rents are down 0.0% year-over-year. Push hard on price, concessions, and lease terms.
Based on rent-price momentum (+0.0% YoY, -10.5% MoM), not inventory.
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Demographics

Who lives here

Sheridan, WY is majority owner-occupied, has a median income below the national average, 29% of residents hold a bachelor's degree or higher.

Population
19,285
Median income
$62,867
Median age
39.1
Renters
37.9%
Age distribution
22.2%
22.2%
24.2%
20%
Under 1822.2%
18–3422.2%
35–5424.2%
55–6411.5%
65+20%
Gender
49.2%
50.8%
Male49.2%
Female50.8%
Race & ethnicity
88.8%
White88.8%
Black1%
Hispanic6.5%
Asian1.5%
Other2.2%
Education (25+)
34.2%
32.1%
29%
No HS diploma4.7%
HS diploma34.2%
Some college32.1%
Bachelor's+29%
Housing tenure
62.1%
37.9%
Owner62.1%
Renter37.9%

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

2021 vs 2026

How Sheridan, WY has changed in 5 years

Income
$52,104 → $62,867
up 20.7%
Population
18,660 → 19,285
up 3.3%
Renter share
39.4% → 37.9%
-1.5 pts
Bachelor's+
31.9% → 29%
-2.9 pts

On the earnings side, the typical household in Sheridan, WY now reports about $62,867, up from $52,104 in 2021. Headcount in the area went from 18,660 to 19,285 between 2021 and 2024, a 3.3% change. About 37.9% of households rent today, against 39.4% in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher slipped from 31.9% to 29%.

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 $1,423/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, WY

Last updated: June 22, 2026

The median rent in Sheridan is $1,423/mo as of June 2026. A studio apartment averages $830/mo while a 2-bedroom runs $1,090/mo. One-bedroom apartments average $830/mo and 3-bedroom units go for $1,310/mo.

At 27% of local median household income ($62,867/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 $1,423/mo, rent takes approximately 27% of the local median household income ($62,867/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 $57,000/year (~$27/hour full-time) to afford the median rent of $1,423/mo in Sheridan. The local median household income is $62,867/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 June 2026.

How does Sheridan rent compare to other cities in Wyoming?

Sheridan is one of the pricier cities in Wyoming for rent, ranking #3 out of 10 tracked cities at $1,423/mo.

Which nearby cities are cheaper to rent in than Sheridan?

Several nearby cities have lower median rents than Sheridan ($1,423/mo): Miles City ($813/mo), Gillette ($1,249/mo).

What percentage of Sheridan residents rent vs. own?

According to Census data, approximately 37.9% of Sheridan households are renters, while 62.1% 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 $1,423/mo is $542 (28%) below the US national median of $1,965/mo. Within Wyoming, it ranks #3 out of 10 tracked cities.
Income Affordability
27%
AFFORDABLE

At $1,423/mo, rent takes ~27% of Sheridan's median household income ($62,867/yr). The standard benchmark is 30%.

Sheridan 27%Benchmark 30%
State income taxNone
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Sheridan, WY

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