Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Sherman County | Kansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $165,277 | $104,507 | $242,182 |
| Price Trend (Annual %) | 15.2% | 5.0% | 8.2% |
| Median Gross Rent | $852 | $1,029 | $1,342 |
| Rent Trend (Annual %) | 4.4% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Sherman County is about 58% higher than in Kansas. Rent is about 17% lower than the Kansas average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Sherman County, up about 15.2% and 4.4% a year respectively. Home prices are changing faster.
Median rent in Sherman County rose about 32.7% between 2015 and 2023, from $642 to $852. Over the same span, rent in Kansas rose about 35.9%.
Affordability
On average, housing unit costs 2.6 yearly household incomes in Sherman County.
Buying the median-priced home in Sherman County costs roughly 16.2 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Sherman County. The price-to-rent ratio in Kansas is about 8.5.
| Metric | Sherman County | Kansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $165,277 | $104,507 | $242,182 |
| Median Household Income | $64,545 | $72,682 | $78,145 |
| Price-to-Income Ratio | 2.6 | 1.4 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Sherman County rose about 96.4%, while median household income rose about 59.9% between 2009 and 2023 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Sherman County | Kansas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 53.4% | 60.4% | 58.2% |
| Rental Rate | 26.9% | 29.9% | 31.3% |
| Vacancy Rate | 19.7% | 9.7% | 10.6% |
| Median Tenure (years) | 18.0 | 14.0 | 15.0 |
| Median Year Moved In | 2008 | 2012 | 2011 |
Sherman County has a homeownership rate of 53.4%, lower than the Kansas average of 60.4%. Its housing vacancy rate is 19.7%, compared with 9.7% in Kansas.
Housing Stock
| Metric | Sherman County | Kansas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.33 people | 2.45 people | 2.54 people |
| Median Structure Built Year | 1968 | 1974 | 1978 |
| Median Number of Rooms | 6.0 | 6.0 | 5.5 |
The typical housing unit in Sherman County was built around 1968. On average, 2.3 people live in a home with about 6.0 rooms, staying for about 18.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Sherman County, Kansas.
What is the median home price in Sherman County, Kansas?
The median home price in Sherman County, Kansas is $165,277, higher than the Kansas average of $104,507.
What is the average home price in Sherman County, Kansas?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Sherman County, Kansas?
The median gross rent in Sherman County, Kansas is $852 per month, lower than the Kansas average of $1,029.
What was the median gross rent in Sherman County in 2020?
In 2020, the median gross rent in Sherman County, Kansas was $803 per month.
What is the price-to-rent ratio in Sherman County, Kansas?
The price-to-rent ratio in Sherman County, Kansas is about 16.2, meaning it would take roughly 16.2 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Sherman County.
Are home prices or rent rising faster in Sherman County, Kansas?
Both home prices and rent are rising in Sherman County, up about 15.2% and 4.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Sherman County, Kansas?
53.4% of households in Sherman County, Kansas own their home, lower than the Kansas average of 60.4%.
What is the vacancy rate in Sherman County, Kansas?
The housing vacancy rate in Sherman County, Kansas is 19.7%, higher than the Kansas average of 9.7%.