Sheridan, WY

  • Overview
  • Performance
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Key Performance Metrics

Market snapshot

Performance indicators for the Sheridan short-term rental market based on reliable data.

Listings

140 / 323

Reliable / Active

Cap Rate

6%

Middle-Earners Gross Yield

Revenue

$24,063

Middle-Earners Revenue

Occupancy

57%

Middle-Earners Occupancy

Home Value

$437,572

Median Home Sale Price

Top Earners

$43,192

Top-Earners Revenue

Sheridan

Market Revenue Seasonality

Top Listings

Highest revenue

The highest-performing listings in Sheridan.

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B

Generally Investor friendly

Sheridan Regulations

STRs are allowed as a home‑based business with no city‑specific fees or caps, and the city tone is permissive; however, ADU STRs require owner occupancy and only one STR license may be issued per lot, plus standard permitting/inspection costs add modest burden.

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About Sheridan

Sheridan sits in north-central Wyoming as the seat of Sheridan County, a community of roughly 18,000 residents nestled at the eastern foot of the Bighorn Mountains. Long associated with cattle ranching and Western heritage, the city retains a small-town character framed by wide-open grasslands and a backdrop of forested peaks. Sheridan functions as the primary gateway to the Bighorn National Forest and serves travelers heading toward points further west, including Yellowstone and the Big Horn Basin. The nearest major city is Billings, Montana, located about 130 miles to the north along Interstate 90.

Just a short drive west of town, Bighorn National Forest covers more than a million acres of the Bighorn Mountains, with the forest's eastern portal reachable in roughly thirty minutes from downtown. The area offers hiking trails, alpine lakes, scenic drives such as the Cloud Peak Skyway, and popular trout fishing streams, drawing visitors year-round for both summer recreation and winter sports like snowshoeing and downhill skiing.

In the heart of Sheridan, the Trail End State Historic Site preserves the early twentieth-century mansion of John B. Kendrick, a Wyoming governor and U.S. senator. Operated as a museum a short distance from the central business district, the property gives visitors a glimpse into the lifestyle of a prominent Western rancher and politician during the early 1900s, with original furnishings and period artifacts.

Downtown Sheridan centers on a well-preserved Main Street corridor lined with locally owned shops, Western-themed storefronts, and historic buildings, many dating to the late nineteenth and early twentieth centuries. The district includes the WYO Theater, an early-1900s venue that still hosts concerts, film screenings, and community performances, contributing to the area's small but active cultural calendar.

About fifteen miles south of Sheridan, the unincorporated community of Big Horn is home to the Brinton Museum and the historic Quarter Circle A Ranch. Set against the rolling prairies at the base of the mountains, the museum houses a notable collection of Western and Native American art, including works by Frederic Remington, and is surrounded by formal gardens that are open to the public during the warmer months.

Sheridan's blend of authentic Western atmosphere, walkable downtown, and immediate access to mountain wilderness makes it a natural fit for travelers seeking both cultural character and outdoor adventure. Visitors can spend a morning browsing Main Street galleries, an afternoon on a forest trail, and an evening at a rodeo or live performance, all without leaving the surrounding region. For short-term rental owners, this mix of year-round attractions and proximity to the Bighorn backcountry offers a steady draw of guests looking for a quieter alternative to Wyoming's busier tourist hubs.

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