The typical owner-occupied home in Sheridan is worth about $132,800, 53% below the Texas median of $283,800 and 60% below the national median of $332,700. The median household earns $61,492 a year, so the median home costs 2.2 times the median income (3.6 times for Texas). 51% of occupied homes here are lived in by their owners, and 62% of those owners still have a mortgage.
Sheridan at a glance
| Sheridan | Texas | U.S. | |
|---|---|---|---|
| Median home value | $132,800 | $283,800 | $332,700 |
| Median property tax paid per year | – | $4,232 | $3,119 |
| Median household income | $61,492 | $78,476 | $80,734 |
| Homes lived in by their owners | 51% | 63% | 65% |
| Owner homes with a mortgage | 62% | 56% | 61% |
| Median monthly costs, owners with a mortgage | – | $2,106 | $1,963 |
| Median rent | – | $1,403 | $1,413 |
| Median year homes were built | 1982 | 1992 | 1980 |
| Vacant homes | 64.0% | 9.4% | 10.1% |
| Population | 208 | 30,188,424 | 334,922,499 |
What a typical home costs per month in Sheridan
At this week's average 30-year rate of 7.11%, buying the median Sheridan home of $132,800 with 20% down costs about $892 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,113, 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 $38,218 for the 20%-down payment. That payment is 17% of the median Sheridan household income of $61,492; at that income and 20% down, the 28% guideline points to a home of about $214,000.
| Down payment | $26,560 |
|---|---|
| Loan amount | $106,240 |
| Principal and interest | $715 |
| Property taxes (1.10% a year) | $122 |
| Homeowners insurance (our estimate, 0.5% a year) | $55 |
| PMI | $0 |
| Total per month | $892 |
Change the numbers in the calculator
| Down payment | $4,648 |
|---|---|
| Loan amount | $130,395 |
| Principal and interest | $877 |
| Property taxes (1.10% a year) | $122 |
| Homeowners insurance (our estimate, 0.5% a year) | $55 |
| FHA mortgage insurance | $59 |
| Total per month | $1,113 |
Change the numbers in the calculator
Questions about home buying in Sheridan
What is the median home value in Sheridan?
About $132,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
What income do you need to buy a home in Sheridan?
For the median home with 20% down at 7.11%, the payment is about $892 a month. Keeping that under 28% of gross income takes about $38,218 a year.
More about Sheridan
- Mortgage Refinance in Sheridan
- Debt Relief in Sheridan
- Home Equity Loans in Sheridan
- 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