Sheridan, CO vs Welby, CO

Sheridan, CO and Welby, CO have a very similar cost of living, with only a 0.2% difference in their overall index. Sheridan scores 115 while Welby scores 115 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

On the housing front, median rent in Sheridan is $1,595/month compared to $1,640/month in Welby — a 3% difference. Interestingly, home values tell a different story: while Sheridan has cheaper rent, Welby actually has lower median home values ($347,700 vs $360,900).

Median household income in Sheridan is $58,571 compared to $78,375 in Welby (-25.3%). While Welby is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Sheridan spend roughly 32.7% of their income on rent, more than the 25.1% in Welby. The Welby ratio exceeds the commonly recommended 30% threshold, which can put pressure on household budgets.