Sheridan County, Montana Housing Market Prices
Sheridan County Home Prices and Rent at a Glance
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 81% below the Montana median Cheapest county in Montana$48,570
-
Median rent 31% below the Montana median$745
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Sheridan County | Montana Avg | US Average |
|---|---|---|---|
| Median Home Price | $48,570 | $249,140 | $248,835 |
| Price Trend (Annual %) | -8.2% | 3.8% | 7.5% |
| Median Gross Rent | $745 | $1,081 | $1,407 |
| Rent Trend (Annual %) | 1.6% | 5.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Sheridan County is about 81% lower than in Montana. Rent is about 31% lower than the Montana average.
Median Home and Rent Price Trends
Median Home Prices, 2017-2021
Median Rent Prices, 2015-2024
Home prices and rent are moving in opposite directions in Sheridan County: home prices fell about 8.2% a year while rent rose about 1.6% a year. That is an unusual pattern worth watching.
Median rent in Sheridan County rose about 20.6% between 2015 and 2024, from $618 to $745. Over the same span, rent in Montana rose about 52.0%.
Affordability
On average, housing unit costs 0.7 yearly household incomes in Sheridan County.
Buying the median-priced home in Sheridan County costs roughly 5.4 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Sheridan County. The price-to-rent ratio in Montana is about 19.2.
| Metric | Sheridan County | Montana Avg | US Average |
|---|---|---|---|
| Median Home Price | $48,570 | $249,140 | $248,835 |
| Median Household Income | $70,561 | $72,476 | $80,455 |
| Price-to-Income Ratio | 0.7 | 3.4 | 3.1 |
Home Prices vs Income Over Time
Between 2017 and 2021, the median home price in Sheridan County fell about 33.5%, while median household income rose about 53.9% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Sheridan County | Montana Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 51.9% | 60.1% | 58.5% |
| Rental Rate | 20.4% | 26.8% | 31.2% |
| Vacancy Rate | 27.7% | 13.2% | 10.2% |
| Median Tenure (years) | 17.0 | 15.0 | 15.0 |
| Median Year Moved In | 2009 | 2011 | 2011 |
Sheridan County has a homeownership rate of 51.9%, lower than the Montana average of 60.1%. Its housing vacancy rate is 27.7%, compared with 13.2% in Montana.
Housing Stock
| Metric | Sheridan County | Montana Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.42 people | 2.37 people | 2.53 people |
| Median Structure Built Year | 1964 | 1981 | 1978 |
| Median Number of Rooms | 5.9 | 5.6 | 5.5 |
The typical housing unit in Sheridan County was built around 1964. On average, 2.4 people live in a home with about 5.9 rooms, staying for about 17.0 years on average.
Sheridan County, MT Housing Compared With Nearby Counties
How Sheridan County, MT compares with the 1 counties closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Sheridan County, MT | 3,668 | $48,570 #2/2 | $745 #2/2 | 71.8% #1/2 |
| Williams County, ND | 39,554 | $438,114 | $1,123 | 53.0% |
Frequently Asked Questions
Common questions about the housing market in Sheridan County, Montana.
What is the median home price in Sheridan County, Montana?
The median home price in Sheridan County, Montana is $48,570, lower than the Montana average of $249,140.
What is the average home price in Sheridan County, Montana?
The typical home price in Sheridan County, Montana, reported as the median sale price, is $48,570. 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 Sheridan County, Montana?
The median gross rent in Sheridan County, Montana is $745 per month, lower than the Montana average of $1,081.
What was the median gross rent in Sheridan County in 2020?
In 2020, the median gross rent in Sheridan County, Montana was $766 per month.
What is the price-to-rent ratio in Sheridan County, Montana?
The price-to-rent ratio in Sheridan County, Montana is about 5.4, meaning it would take roughly 5.4 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Sheridan County.
Are home prices or rent rising faster in Sheridan County, Montana?
Home prices and rent are moving in opposite directions in Sheridan County: home prices fell about 8.2% a year while rent rose about 1.6% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Sheridan County, Montana?
51.9% of households in Sheridan County, Montana own their home, lower than the Montana average of 60.1%.
What is the vacancy rate in Sheridan County, Montana?
The housing vacancy rate in Sheridan County, Montana is 27.7%, higher than the Montana average of 13.2%.
Analyze any area in the US
Get local demographics for any address, aggregated by drive time or radius, on the interactive map.
Explore the map →