Real Estate Investing in Sheridan, Wyoming (82842)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 82842 (Sheridan, WY)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 46.1% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 38.3 — hard to cash-flow at these prices.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Sheridan, WY (82842)?
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Market Analysis: 82842 Sheridan
Investors eyeing 82842 need to respect the fundamentals at play. Home values of $468K come alongside slower price movement and elevated management overhead.
Distressed markets are won on execution, not on spreadsheets. ZIP 82842 shows the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
The gap between 82842 and stronger Sheridan ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
Resident income in 82842 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
The right play in 82842 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Sheridan:
Market Trends
Home Value History (with trend line)
📊 How Does 82842 Compare?
| Metric | 82842 | Sheridan | Sheridan, WY | Wyoming |
|---|---|---|---|---|
| Home Value | $467,524 | $509,299 | N/A | $359,462 |
| 5-Year CAGR | 5.6% | 5.5% | N/A | 6.2% |
| Avg Rent | $1,017 | $1,166 | N/A | - |
| Cap Rate | 1.7% | 1.9% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 82842 (Sheridan, WY). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $467,524 |
| Monthly Rent | $1,017 |
| Price-to-Rent | 38.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 2.6% |
| Cap Rate | 1.7% |
| 5-Year IRR | 7.3% |
📈 Home Appreciation
| 1-Year | +3.8% ▲ |
| 3-Year CAGR | +5.3% ▲ |
| 5-Year CAGR | +5.6% ▲ |
| 10-Year CAGR | N/A |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (1.7%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 82842
Population: 749
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 82842
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 857 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What is it like being a landlord in Sheridan, WY?
WY law landlord-friendly for landlords, and Sheridan inherits those rules. Investors should still review local ordinances for rental licensing.
Is it easy to find good tenants in Sheridan, WY?
Tenant demand in Sheridan, WY is solid. The local workforce $1,017/mo rents across most rental classes.
What do rentals go for in Sheridan, WY?
Rental rates in Sheridan, WY average $1,017/mo. Tenant demand and $468K home values make the yield look reasonable by investor standards.
What is the investability score for Sheridan, WY?
Sheridan, WY registers an investability rating of 3.0/5, with median home values near $468K and average rents around $1,017/mo. That combination puts it in the impressive tier for investor interest.
What investment strategy works best in Sheridan, WY?
In Sheridan, WY the significant play is typically careful cash-flow rentals with hands-on management. The combination of $468K prices and $1,017/mo rents suits that approach.
You know 82842 now. You don’t know where it ranks.
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How 82842 ranks in Sheridan, WY
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