The typical owner-occupied home in Sheridan Lake is worth about $86,700, 84% below the Colorado median of $539,400 and 74% below the national median of $332,700. Owners pay a median $267 a year in property taxes, about 0.31% of their home's value, lower than the Colorado rate of 0.48%. The median household earns $41,406 a year, so the median home costs 2.1 times the median income (5.6 times for Colorado). 32% of occupied homes here are lived in by their owners, and 0% of those owners still have a mortgage.
Sheridan Lake at a glance
| Sheridan Lake | Colorado | U.S. | |
|---|---|---|---|
| Median home value | $86,700 | $539,400 | $332,700 |
| Median property tax paid per year | $267 | $2,602 | $3,119 |
| Property tax as a share of value | 0.31% | 0.48% | 0.94% |
| Median household income | $41,406 | $95,470 | $80,734 |
| Homes lived in by their owners | 32% | 66% | 65% |
| Owner homes with a mortgage | 0% | 69% | 61% |
| Median monthly costs, owners with a mortgage | – | $2,326 | $1,963 |
| Median rent | – | $1,761 | $1,413 |
| Median year homes were built | 1963 | 1988 | 1980 |
| Vacant homes | 26.5% | 8.3% | 10.1% |
| Population | 61 | 5,862,189 | 334,922,499 |
What a typical home costs per month in Sheridan Lake
At this week's average 30-year rate of 7.11%, buying the median Sheridan Lake home of $86,700 with 20% down costs about $525 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $670, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $22,505 for the 20%-down payment. That payment is 15% of the median Sheridan Lake household income of $41,406; at that income and 20% down, the 28% guideline points to a home of about $160,000.
| Down payment | $17,340 |
|---|---|
| Loan amount | $69,360 |
| Principal and interest | $467 |
| Property taxes (0.31% a year) | $22 |
| Homeowners insurance (our estimate, 0.5% a year) | $36 |
| PMI | $0 |
| Total per month | $525 |
Change the numbers in the calculator
| Down payment | $3,034 |
|---|---|
| Loan amount | $85,130 |
| Principal and interest | $573 |
| Property taxes (0.31% a year) | $22 |
| Homeowners insurance (our estimate, 0.5% a year) | $36 |
| FHA mortgage insurance | $38 |
| Total per month | $670 |
Change the numbers in the calculator
Questions about home buying in Sheridan Lake
What is the median home value in Sheridan Lake?
About $86,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Sheridan Lake?
Homeowners pay a median $267 a year, which is about 0.31% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Sheridan Lake?
For the median home with 20% down at 7.11%, the payment is about $525 a month. Keeping that under 28% of gross income takes about $22,505 a year.
More about Sheridan Lake
- Mortgage Refinance in Sheridan Lake
- Debt Relief in Sheridan Lake
- Home Equity Loans in Sheridan Lake
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data