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 | Sheridan County | Nebraska Avg | US Average |
|---|---|---|---|
| Median Home Price | $20,395 | $167,658 | $242,182 |
| Price Trend (Annual %) | -1.4% | 8.2% | 8.2% |
| Median Gross Rent | $771 | $1,035 | $1,342 |
| Rent Trend (Annual %) | 3.9% | 4.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Sheridan County is about 88% lower than in Nebraska. Rent is about 26% lower than the Nebraska average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Home prices and rent are moving in opposite directions in Sheridan County: home prices fell about 1.4% a year while rent rose about 3.9% a year. That is an unusual pattern worth watching.
Median rent in Sheridan County rose about 35.1% between 2015 and 2023, from $570 to $771. Over the same span, rent in Nebraska rose about 42.6%.
Affordability
On average, housing unit costs 0.4 yearly household incomes in Sheridan County.
Buying the median-priced home in Sheridan County costs roughly 2.2 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 Nebraska is about 13.5.
| Metric | Sheridan County | Nebraska Avg | US Average |
|---|---|---|---|
| Median Home Price | $20,395 | $167,658 | $242,182 |
| Median Household Income | $57,258 | $74,987 | $78,145 |
| Price-to-Income Ratio | 0.4 | 2.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Sheridan County fell about 61.3%, while median household income rose about 84.7% between 2009 and 2023 — 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 | Nebraska Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 54.8% | 61.2% | 58.2% |
| Rental Rate | 23.7% | 30.8% | 31.3% |
| Vacancy Rate | 21.5% | 8.0% | 10.6% |
| Median Tenure (years) | 18.0 | 14.0 | 15.0 |
| Median Year Moved In | 2008 | 2012 | 2011 |
Sheridan County has a homeownership rate of 54.8%, lower than the Nebraska average of 61.2%. Its housing vacancy rate is 21.5%, compared with 8.0% in Nebraska.
Housing Stock
| Metric | Sheridan County | Nebraska Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.30 people | 2.43 people | 2.54 people |
| Median Structure Built Year | 1951 | 1973 | 1978 |
| Median Number of Rooms | 6.4 | 6.1 | 5.5 |
The typical housing unit in Sheridan County was built around 1951. On average, 2.3 people live in a home with about 6.4 rooms, staying for about 18.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Sheridan County, Nebraska.
What is the median home price in Sheridan County, Nebraska?
The median home price in Sheridan County, Nebraska is $20,395, lower than the Nebraska average of $167,658.
What is the average home price in Sheridan County, Nebraska?
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 Sheridan County, Nebraska?
The median gross rent in Sheridan County, Nebraska is $771 per month, lower than the Nebraska average of $1,035.
What was the median gross rent in Sheridan County in 2020?
In 2020, the median gross rent in Sheridan County, Nebraska was $735 per month.
What is the price-to-rent ratio in Sheridan County, Nebraska?
The price-to-rent ratio in Sheridan County, Nebraska is about 2.2, meaning it would take roughly 2.2 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, Nebraska?
Home prices and rent are moving in opposite directions in Sheridan County: home prices fell about 1.4% a year while rent rose about 3.9% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Sheridan County, Nebraska?
54.8% of households in Sheridan County, Nebraska own their home, lower than the Nebraska average of 61.2%.
What is the vacancy rate in Sheridan County, Nebraska?
The housing vacancy rate in Sheridan County, Nebraska is 21.5%, higher than the Nebraska average of 8.0%.