Market Overview
Home Prices in Sheridan, MI
The median home value in Sheridan, MI is $307,663 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 7.1% compared to a year ago and up 0% from two years prior.
Compared to the U.S. national median of $410,000, homes in Sheridan are priced25% below average.
Over the past five years, Sheridan home values have risen by approximately27.0%, reflecting strong long-term appreciation in this market.
Price History
Sheridan Home Price Trend
2020
$202,239
$202K
—
2021
$242,335
$242K
+19.8%
2022
$274,407
$274K
+13.2%
2023
$271,777
$272K
-1.0%
2024
$287,474
$287K
+5.8%
2025
$287,354
$287K
+-0.0%
2026
$307,663
$308K
+7.1%
City Comparison
Sheridan vs. National Median
🏠 Sheridan
$307,663
National Median
$410,000
At $307,663, homes in Sheridan cost 25% below the national median of $410,000. This makes Sheridan a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Sheridan?
20% Down Payment
$61,533
on $307,663
Monthly P&I
$1,605/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,038/mo
incl. taxes & insurance
Income Needed
$81,520
gross annual (30% rule)
10% Down Option
$30,766
+ PMI applies
Loan Amount (20% dn)
$246,130
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Sheridan, MI?
The median home value in Sheridan is $307,663 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 7.1% year-over-year.
How much have home prices changed in Sheridan?
Over the past year, home values in Sheridan have increased by 7.1%. Over five years, prices have risen approximately 27.0%.
How much do I need to earn to buy a home in Sheridan?
To comfortably afford the median home price of $307,663 with a 20% down payment ($61,533) at today's rates (6.8%), you'd need a gross annual income of approximately $81,520. This assumes keeping total housing costs at or below 30% of gross income.
How does Sheridan compare to the national average home price?
The national median home value is approximately $410,000. At $307,663, homes in Sheridan are 25% below the national average.