Sheridan cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexSheridanWyomingNational
Cost of living index9997100
IndexSheridanWyomingNational
Goods & Services index9890100
Groceries index10099100
Health care index10499100
Housing index100101100
Transportation index101101100
Utilities index9299100
A general summary of the cost of living index in Sheridan, WY is shown above. Compared to the state average of Wyoming the cost of living index in Sheridan, WY is 99, which is 2% higher than the average in Wyoming and compared to the national average it is 1% lower than. The cost of living index is made up of several categories. These are transportation at 9%, utilities at 10%, goods and services at 33%, housing at 30%, groceries at 13%, and health care at 5%. The bulk of the cost of living index comes from the categories of goods and services and housing. If you look at everyday goods and services they can be a good indicator in a certain city of the general costs of goods there. In Sheridan, WY goods and services come in at 9% higher than the average in Wyoming and are 3% lower than compared to the nationwide average.

Did you know?

  • The cost of living in Sheridan is 2% higher than the Wyoming average.
  • The cost of living in Sheridan is 1% lower than the national average.
  • The cost of housing in Sheridan is equal to the national average.
  • Wyoming general sales tax is 21% lower than the national average.
  • Wyoming state income tax is 100% lower than the national average.

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Compare Sheridan, WY Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
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Using the salary calculator lets you compare the salary you earn in Sheridan, WY to what it is in other cities. It will let you know what your earnings would have to be in another city to have the same standard of living, as determined by the cost of living in each city. For example, if the cost of living in the area you want to move to is higher than the cost of living in Sheridan, WY, you have to earn a higher income in order to still have the same standard of living. To operate the Sheridan, WY salary calculator, put in the name of the other city, then move the slider to the point that represents the current income. The salary calculator will take care of the rest and tell you how much more or less you must earn in the new city. A Total breakdown of the cost of living is also provided.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$58,523$4,877$1,365$1,756
Renters$31,708$2,642$740$951
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Sheridan, WY as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Sheridan, WY homeowners, is $58,523. This would allow for a maximum of $1,365 per month to be spent on housing costs. For renters, the median monthly income is $31,708 which would result in a maximum of $740 to be spent on rental costs.

Wyoming Sales Tax

StateGeneral Sales TaxWith Max Surtax
Wyoming4%6%

Wyoming Income Tax

StateIncome Tax (Low)Income Tax (High)
Wyoming0%0%
When considering the overall cost of living expenses in Sheridan, WY, it's important to take into account the sales tax for Wyoming, as well as the rate for income tax in Wyoming. Goods and services sold to consumers in any state have some form of sales tax. Each state has its own tax code, which means that sales tax rates vary from state to state, ranging from over 7% in some states to as low as 0% in others. The maximum surtax for Wyoming is 6%, and the sales tax in the state of Wyoming is 4%. Alternatively, the tax imposed on your income by the state government is known as income tax. The rate for this tax also varies from state to state, and your rate is affected by your tax bracket, which is determined by your level of income. Income tax rates might be as high as 9%, down to as low as 0%. The range for income tax rates in Wyoming starts from 0% and goes up to 0%.

Goods & Services

ItemSheridanNational avg.Difference
Haircut $14.37$15.567.7%
Beauty Salon $37.33$36.113.4%
Toothpaste $2.72$2.4710.1%
Shampoo $0.95$0.961.6%
Movie $10.25$10.131.2%
Bowling $3.83$4.7419.0%

Groceries

ItemSheridanNational avg.Difference
Ground Beef $3.43$3.9813.9%
Fried Chicken $1.39$1.411.0%
Milk $1.75$2.0615.2%
Potatoes $3.67$2.9823.1%
Pizza $8.99$9.475.1%
Beer $8.65$8.791.6%

Health Care

ItemSheridanNational avg.Difference
Optometrist $82.77$101.0418.1%
Doctor $134.33$107.4425.0%
Dentist $82.20$90.429.1%
Ibuprofen $9.93$9.287.0%
Lipitor $455.84$426.506.9%

Housing

ItemSheridanNational avg.Difference
Home Price $189,300.00$175,700.007.7%
Avg. Mortgage Payment $1,256.86$1,133.2310.9%
Apartment Rent $758.00$920.0017.6%

Transportation

ItemSheridanNational avg.Difference
Gasoline $2.09$1.994.7%
Tire Balancing $42.53$45.767.1%

Utilities

ItemSheridanNational avg.Difference
All Electricity$182.10$163.8111.2%
Phone $18.66$28.3934.3%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
Big Horn, WY41096-4%
Ranchester, WY88998-2%
Dayton, WY80798-2%
Sheridan, WY17,69999-1%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Kings Park, NY17,69414949%
Dumont, NJ17,70613232%
Vincent, CA17,68713333%
St. Matthews, KY17,68697-3%
Arcata, CA17,67912020%
Sheridan, WY17,69999-1%
Source: The Sheridan, WY cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.