Mortgage payment estimates, closing cost breakdowns, and homebuying data for Sheridan, Wyoming.
Median Home Price
$345K
Population
18K
Avg Monthly Rent
$1,180
Property Tax Rate
0.61% *
* Property tax shown is the Wyoming state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Sheridan.
Sheridan vs Wyoming Median
The median home price in Sheridan is $345,000, which is roughly in line with the Wyoming state median of $340,000.
Mortgage Calculator — Sheridan, WY
Pre-filled with Sheridan median home price and Wyoming tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $345K home using Wyoming's 0.61% tax rate and $1,800/yr insurance.
5% Down
$2,588/mo
Down: $17,250
Loan: $328K
P&I: $2,072
Tax: $175
Insurance: $150
PMI: $191
10% Down
$2,469/mo
Down: $34,500
Loan: $311K
P&I: $1,963
Tax: $175
Insurance: $150
PMI: $181
20% Down (No PMI)
$2,070/mo
Down: $69,000
Loan: $276K
P&I: $1,745
Tax: $175
Insurance: $150
Income needed (28% rule): $89K/year with 20% down, $106K/year with 10% down.
Rent vs Buy in Sheridan
Rent
$1,180/mo
vs
Buy (10% down)
$2,469/mo
Price-to-rent ratio: 24.4 — At a ratio above 20, renting may be more economical in Sheridan for shorter stays. Buying costs $1,289 more per month than renting, and it typically takes 5-7 years to break even on the transaction costs of buying.
The median home price in Sheridan is $345,000, roughly in line with the Wyoming state median of $340,000. With a population of 18,186, Sheridan is a smaller market where home prices reflect strong demand and local economic factors.
Property taxes in Wyoming average 0.61% annually. This low property tax rate is a significant advantage for Sheridan buyers, keeping your monthly costs well below what you'd pay in higher-tax states. Homeowners insurance in Wyoming runs approximately $1,800 per year. This is within the normal range nationally.
Average rent in Sheridan is $1,180/month. With a price-to-rent ratio above 20, renting could be more economical in the short term — use our Rent vs Buy calculator to model your specific timeline.
Sheridan presents moderate affordability. The $345K median puts homeownership within reach for median-income households, though down payment savings and closing costs require planning.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Sheridan.