Home Values in Sheridan, Wyoming — 2026 Market Report
Updated March 2026 | Balanced Market | +4.8% YoY
The median home value in Sheridan, Wyoming is $345,000 as of March 2026, which is below the national median of $400,000. Home values in Sheridan have increased by 4.8% over the past year and 26.4% over the last five years. With a population of 18,186 and a median household income of $52,250, the price-to-income ratio stands at 6.6x, making Sheridan affordable for the average household.
Sheridan Housing Market Conditions
| Metric | Sheridan | National Avg |
|---|---|---|
| Median Home Value | $345,000 | $400,000 |
| YoY Appreciation | +4.8% | +3.8% |
| 5-Year Appreciation | +26.4% | +22.4% |
| Price per Sq Ft | $107 | $222 |
| Days on Market | 35 days | 45 days |
| Months of Supply | 4.4 | 3.5 |
| List-to-Sale Ratio | 96.7% | 98.5% |
| Monthly Homes Sold | 9 | — |
| Foreclosure Rate | 0.6% | 0.3% |
Home Value Trends in Sheridan
A homeowner who purchased at the median price of $272,943 five years ago in Sheridan would have gained approximately $72,057 in equity, representing a 26.4% return on investment. Over the past year alone, the typical homeowner gained $15,802 in home equity.
Affordability in Sheridan, WY
With a median household income of $52,250 and a median home price of $345,000, the price-to-income ratio in Sheridan is 6.6x. A ratio below 3x is generally considered affordable, while above 5x indicates significant affordability challenges. The average monthly rent of $2,692 compared to estimated monthly ownership costs of $1,814 gives a rent-vs-buy ratio of 0.67. In Sheridan, buying is currently competitive with renting when factoring in equity accumulation.
Property Taxes in Sheridan
The effective property tax rate in Wyoming is 0.61%. On a home valued at $345,000, the estimated annual property tax bill is $2,105, or approximately $175/month. Property taxes are an important factor in the total cost of homeownership and can significantly impact affordability. The cost of living index in Sheridan is 93.5 (100 = national average), indicating living costs are below the national average.
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Open Mortgage CalculatorFrequently Asked Questions
What is the median home value in Sheridan, WY?
The median home value in Sheridan, Wyoming is $345,000 as of March 2026. Home values have changed +4.8% over the past year, with a 5-year appreciation of 26.4%.
Is Sheridan a buyer's or seller's market?
Sheridan is currently a balanced market with 4.4 months of housing supply. Homes spend an average of 35 days on market, and the list-to-sale price ratio is 96.7%. Supply and demand are relatively balanced.
Are home values going up in Sheridan?
Yes, home values in Sheridan have increased by 4.8% over the past year. The 5-year appreciation rate is 26.4%, meaning a home worth $272,943 five years ago is now worth $345,000.
Is it better to rent or buy in Sheridan?
The average monthly rent in Sheridan is $2,692, while estimated monthly homeownership costs are approximately $1,814. The price-to-rent ratio is 10.7. Based on current conditions, buying may be more cost-effective than renting in this market.
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Disclaimer: Home value data for Sheridan, Wyoming is based on publicly available market data and estimates. Actual home values may vary based on property condition, location within the city, and current market conditions. Data is updated regularly but may not reflect the most recent transactions. Last updated: March 2026.