| Index | Sheridan | Wyoming | National |
| Cost of living | 105 | 100 | 100 |
| Groceries | 101 | 101 | 100 |
| Health care | 97 | 98 | 100 |
| Housing | 116 | 102 | 100 |
| Transportation | 101 | 100 | 100 |
| Utilities | 102 | 103 | 100 |
| Lifestyle & Entertainment | 101 | 98 | 100 |
| Household Items | 99 | 99 | 100 |
| Education & Childcare | 94 | 97 | 100 |
Getting a feel for the cost of living in Sheridan is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Sheridan is 105, which is 5% higher than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.
The cost of living in Sheridan closely mirrors the national average in comparison to other cities nationwide. Essential items such as groceries, houshold expenses, health care and utilities are priced at a level consistent with similar urban areas. This means that residents of Sheridan can anticipate that their daily expenses will remain reasonably in line with those of an average city, contributing to a manageable cost of living.
The real experts on a city are its residents. That's why we reached out to 13 locals to get their views on the cost of living in Sheridan. We surveyed the residents and asked them if they felt like prices were affordable or out of reach. The results were as follows. 23% found it budget-friendly with decreasing prices, while 77% said it's simply not affordable as prices have continued to rise.
Is Sheridan an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Sheridan, the median home price is 28.7% higher than what most folks pay across the country, and monthly rent prices are 12.7% lower than the usual rates. Income levels in Sheridan come in at $78,348, which is 3.7% lower than the national average.
Utilities: Like everything else, utilities costs can range significantly depending on factors like climate, energy sources available, location and even state regulations. Things like electricity, water, heating and waste disposal costs can be higher or lower, depending on the city or state. The utilities index in Sheridan comes in at 1.9% higher than the national average.
Taxes: Cities that enforce higher taxes, covering both sales taxes and income taxes, can be a factor contributing to a higher cost of living. Paying more in taxes for everyday essentials like clothing and food inevitably leads to higher expenses. A higher income tax rate can further contribute to an overall elevated cost of living. In Sheridan, the baseline sales tax rate begins at 4%, and income tax rates start at 0%.
Transportation: In situations where public transportation is limited or nonexistent, local residents may be required to own and maintain their own vehicles, contributing to an elevated cost of living. Monthly expenditures may encompass fuel costs, insurance premiums, routine vehicle upkeep and possibly lease or financing payments. In Sheridan, the transportation index is 0.8% higher than the national average.
The cost of living data for Sheridan shown above is based on a U.S. average baseline score of 100, making it easier to compare how far your dollar may go from one city to another. Housing uses U.S. Census home price and rental data, while all remaining values are AI-assisted estimates informed by regional pricing, climate, transportation dynamics, and local economic factors. These scores are best used for directional comparisons between cities.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $106,896 | $8,908 | $2,494 | $3,207 |
| Renters | $50,481 | $4,207 | $1,178 | $1,515 |
| State | General Sales Tax | With Max Surtax |
| Wyoming | 4% | 6% |
| State | Income Tax (Low) | Income Tax (High) |
| Wyoming | 0% | 0% |
| City | Population | Cost of Living Index | National Avg. |
| Big Horn, WY | 392 | 99 | 0.5% |
| Ranchester, WY | 1,095 | 108 | 8.3% |
| Dayton, WY | 913 | 111 | 10.8% |
| Sheridan, WY | 18,519 | 105 | 4.5% |
| City | Population | Cost of Living Index | National Avg. |
| Russell, ON | 18,518 | n/a | |
| Avon, IN | 18,517 | 104 | 3.8% |
| Westerly, RI | 18,517 | 121 | 20.6% |
| Canby, OR | 18,522 | 126 | 25.9% |
| Dover, NJ | 18,528 | 121 | 21.0% |
| Sheridan, WY | 18,519 | 105 | 4.5% |
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