Total monthly cost of ownership
Cost to Own a Home in Sheridan, Wyoming
A $295,000 home here costs
$2,207per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,517. The real number is $690 higher every month — 46% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Sheridan against Sheridan County and Wyoming
| Measure | Sheridan | Sheridan County |
|---|---|---|
| Median home value | $295,300 | $352,200 |
| Median property tax | $1,640 | $1,951 |
| Effective tax rate | 0.555% | 0.554% |
| Median gross rent | $933 | $950 |
| Population | 19,035 | 31,585 |
The weather behind that power bill
Sheridan sits in Sheridan County, which averages a high of 87.8°F in its hottest month and a low of 11.7°F in its coldest, with 14.93" of precipitation a year and 44% of it in a single three-month stretch. That climate drives 441 cooling and 7,542 heating degree days, which is what sets the $133 electricity line above.
See the full climate breakdown for Sheridan County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Sheridan County
Full Sheridan County cost breakdown · Every county in Wyoming
Common questions
How much does it cost to own a home in Sheridan?
A $295,000 home in Sheridan, Wyoming costs approximately $2,207 per month with 20% down at 6.66%. That is $1,517 principal and interest, $136 property tax, $107 homeowners insurance, $201 utilities and $246 set aside for maintenance.
What is the property tax rate in Sheridan?
Sheridan has an effective property tax rate of 0.555%, based on a median home value of $295,300 and median real estate taxes of $1,640. That is in line with the Sheridan County average of 0.554%.
What is the average home price in Sheridan?
The median owner-occupied home value in Sheridan, Wyoming is $295,300, against $352,200 across Sheridan County.
Is it cheaper to rent or buy in Sheridan?
Median gross rent in Sheridan is $933 a month, against $2,207 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Sheridan — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Wyoming.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.