Cost of Living in Sheridan, CO

With a cost of living index of 115, Sheridan, CO is somewhat more expensive than average. Living here is 15% more expensive than the national average and in line with the Colorado state average. Sheridan is a smaller community of 6,031 residents, where everyday costs can differ substantially from nearby larger cities.

Housing costs are the biggest factor in Sheridan's cost of living. The median monthly rent is $1,595 (21% above the US median of $1,319), and the median home value sits at $360,900 (18% above the national median of $304,900). At current prices, the median home costs roughly 6.2x the median household income — a challenging ratio that puts homeownership out of reach for many residents.

The median household income in Sheridan is $58,571, which is 22% lower than the national median of $75,149. Residents spend roughly 33% of household income on rent. This exceeds the recommended 30% threshold, meaning many renters here are cost-burdened.

Everyday prices in the Denver-Aurora-Centennial, CO (Metropolitan Statistical Area) metro area tend to run above the national average. Out of 6 common grocery and utility items tracked by the Bureau of Labor Statistics, 5 are priced higher than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.