Affordable

What Salary Do You Need to Live in Sheridan?

To afford a 2-bedroom in Sheridan, you need to earn at least $43,800/year based on estimated fair market rent data. The median household income here is $57,667, which means the typical resident is $13,867 above the threshold.

Census ACS Data Pop. 18,807

Salary Required by Bedroom Size

Bedroom	Monthly Rent	Monthly Income	Annual Salary	vs. Median
Studio	$767	$2,557	$30,680	$-26,987
1 Bedroom	$909	$3,030	$36,360	$-21,307
2 Bedroom BENCHMARK	$1,095	$3,650	$43,800	$-13,867
3 Bedroom	$1,336	$4,453	$53,440	$-4,227
4 Bedroom	$1,643	$5,477	$65,720	+$8,053

Affordability Breakdown

Where the required salary line crosses above Sheridan's median income — housing becomes unaffordable for the typical resident.

Required Salary Median Income

Income vs. Rent Snapshot

Median Income

$57,667

Annual household

2BR Required Salary

$43,800

Under 30% rule

Income Gap

+$13,867

Surplus

Verdict

Affordable

Ratio: 22.8%

The 30% Rule Calculator

Enter your annual salary to see what you can afford in Sheridan

Your Annual Salary

Pre-filled with Sheridan's median household income

Max monthly rent you can afford$1,442

Studio

$767/mo

1 BR

$909/mo

2 BR

$1,095/mo

3 BR

$1,336/mo

4 BR

$1,643/mo

Your salary is $0 above the median income in Sheridan.

Salary Comparison by Bedroom

Bars left of the marker line are affordable for Sheridan's median earner. Bars to the right require above-median income.

Affordable Above Median Median Income

What This Means If You're Moving to Sheridan

Living in Sheridan is well within reach for most median-income earners. With a $13,867 cushion between what residents earn and what a 2-bedroom requires, households in Sheridan typically have meaningful financial flexibility after housing costs.

For remote workers or relocators evaluating Sheridan, a studio at $767/month offers an even more aggressive savings rate. Even a 3-bedroom at $1,336/month remains accessible for dual-income households earning above $53,440.

To live comfortably with room for non-housing expenses, a break-even salary of approximately $65,700 would position you well — though many residents in Sheridan manage on less given the favorable rent-to-income dynamics.

Economic Outlook

Local Job Market & Housing Dynamics

Affording rent isn't just about housing prices—it's heavily dependent on local employment opportunities and the strength of the job market in Sheridan, Wyoming.

With a total population of 18,807, the city supports an active civilian workforce of 9,185 people. A strong employment base often indicates a stable economy, which is crucial when committing to a lease requiring a $43,800 annual salary. The ratio of employed residents to the total population provides insight into the local economic health and competition for both jobs and housing.

Employed Workforce

9,185

Active civilian employees in Sheridan

Frequently Asked Questions About Renting in Sheridan

What salary do I need to live in Sheridan, Wyoming?

To afford a 2-bedroom in Sheridan under the 30% rule, you need an annual salary of at least $43,800. The median household income in Sheridan is $57,667.

Can I afford a 2-bedroom in Sheridan on $57,667?

The affordability verdict for Sheridan is "Affordable". The rent-to-income ratio is 22.8%, meaning median earners have a $13,867 surplus.

What is the average rent in Sheridan compared to median income?

The median gross rent in Sheridan is $909/month. With a median household income of $57,667, residents spend approximately 22.8% of their income on rent.

What salary do I need for a studio in Sheridan?

A studio in Sheridan rents for approximately $767/month. Under the 30% rule, you need an annual salary of $30,680 to afford this.

Is Sheridan considered an affordable place to live?

Based on the surplus of $13,867 and an affordability verdict of "Affordable", Sheridan is considered a affordable rental market when comparing the required 2-bedroom salary of $43,800 to the local median household income.

How Sheridan Compares

Other cities in Wyoming with salary requirements