Peak Apartments (Income Based)
2250 W 5th St,
Sheridan, WY 82801
$995 - $1,146
2-3 Beds
Rental Market Trends in Sheridan, WY
What is the average rent in Sheridan, WY?
$831/month
Average Rent
0 Sq Ft
Average Apartment Size
+2.1%
Increase in the Last Year
As of April 2026, the average rent in Sheridan, WY is $831 per month. This is 49% lower than the national average rent of $1,641/month, making renting in Sheridan more affordable than most cities in the US. When you rent an apartment in Sheridan, you can expect to pay about per month for a studio, $831 for a one-bedroom apartment, and around $783 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $1,168 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Sheridan, WY?
In the past year, rent has increased by 2.1%, which averages out to $18 more per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated April 2026
Legend
2025
2026
Rent Ranges in Sheridan, WY
Last Updated April 2026
$700 - $1,000
Most rental prices fall within this range
Percentage*
Rent Range
0%
Below $700/month
100%
$700 - $1,000/month
0%
$1,001 - $1,500/month
0%
$1,501 - $2,000/month
0%
Above $2,000/month
What salary do I need to live comfortably in Sheridan, WY?
Because the average rent in Sheridan is $831, you’ll want to make about $2,770 per month or $33,240 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does Sheridan, WY compare to other nearby cities and neighborhoods?
Use the tool below to compare Sheridan, WY to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
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Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in February 2026.
Demographic information comes from Neustar and combines detailed address data with U.S. Census and American Community Survey statistics to produce reliable local estimates.
* Percentages may not total 100 due to rounding.