Sheridan, WY Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2022. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Sheridan, WY Housing Market Trends

With a population of 18,737, 8,127 total housing units (homes and apartments), and a median house value of $296,295, Sheridan real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Sheridan, accounting for 67.09% of the city's housing units. Other types of housing that are prevalent in Sheridan include large apartment complexes or high rise apartments ( 13.08%), duplexes, homes converted to apartments or other small apartment buildings ( 8.92%), and a few row houses and other attached homes ( 5.65%).

The most prevalent building size and type in Sheridan are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 57.46% owning and 42.54% renting.

There is a lot of housing in Sheridan built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Sheridan built before 1939 ( 23.32%). A lesser amount of the housing stock also hails from between 2000 and later ( 19.70%). There's also some housing in Sheridan built between 1940-1969 ( 19.16%).

Sheridan Home Appreciation Rates

Appreciation rates for homes in Sheridan have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 64.84%, which ranks in the top 50% nationwide. This equates to an annual average Sheridan house appreciation rate of 5.13%.

Appreciation rates are so strong in Sheridan that despite a nationwide downturn in the housing market, Sheridan real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Sheridan appreciation rates continue to be some of the highest in America, at 19.68%, which is higher than appreciation rates in 77.26% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Sheridan. Sheridan appreciation rates in the latest quarter were at 2.79%, which equates to an annual appreciation rate of 11.62%.

Relative to Wyoming, our data show that Sheridan's latest annual appreciation rate is higher than 70% of the other cities and towns in Wyoming.

Average Home Values

 

Median Home Value:
$296,295

Sheridan, WY HOME PRICES

> $1,350,000
$1,013,001 - $1,350,000
$675,001 - $1,013,000
$540,001 - $675,000
$405,001 - $540,000
$270,001 - $405,000
$135,001 - $270,000
$67,001 - $135,000
$0 - $67,000
0.4%
0.4%
0.5%
0.5%
7.8%
7.8%
3.4%
3.4%
16.7%
16.7%
33.2%
33.2%
27.5%
27.5%
5.5%
5.5%
4.9%
4.9%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Average for WY

Value Relative To Nation

Number Of Homes And Apartments:
8,127

Sheridan Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
WY*
Compared To
America*
Latest Quarter:
2021 Q4 - 2022 Q1
Last 12 Months:
2021 Q1 - 2022 Q1
Last 2 Years:
2020 Q1 - 2022 Q1
Last 5 Years:
2017 Q1 - 2022 Q1
Last 10 Years:
2012 Q1 - 2022 Q1
Since 2000:
2000 Q1 - 2022 Q1
180.54% 4.75%
8
9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,235 / per month

Homeownership Rate

Owners
Renters
Vacant
57.5%
57.5%
42.5%
42.5%
5.9%
5.9%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
19.7%
19.7%
37.8%
37.8%
19.2%
19.2%
23.3%
23.3%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
67.1%
67.1%
5.7%
5.7%
8.9%
8.9%
13.1%
13.1%
5.3%
5.3%
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.3%
2.3%
13.9%
13.9%
31.7%
31.7%
35.3%
35.3%
13.1%
13.1%
3.8%
3.8%
0.0% 100.0%
% OF HOMES

Popular Communities Near Sheridan, WY

Zip Codes in Sheridan, WY