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These days, finding an affordable place to live in the Sherwood area can be challenging. Home prices in Sherwood are now at a median cost of $130,171, lower than the Michigan average of $250,415.
The average cost of rent is $873/mo in Sherwood, primarily driven by the current value of real estate in the Sherwood area. In Sherwood, 16.87% of households rent, and 57.77% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Sherwood is $5,639 per month. Households that rent pay about 15.49% of their income on rent here. Sherwood’s most expensive areas are in the northeastern regions, while the cheapest areas are in the southwestern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Shorecrest, MI: higher priced homes
- Leonidas, MI: higher priced homes
- Union City, MI: equally priced homes
- Colon, MI: higher priced homes
- Athens, MI: higher priced homes
- Batavia Center, MI: higher priced homes
- Fairfax, MI: higher priced homes
- Fulton, MI: higher priced homes
- Bronson, MI: equally priced homes
- Burlington, MI: higher priced homes
Cities with Similar Populations
- Bright Star, TX: higher priced homes
- Conklin, MI: higher priced homes
- Carterville, MO: less expensive homes
- Cairo, IL: less expensive homes
- Bristow, VA: higher priced homes
- Boaz, KY: higher priced homes
- Big Pine, CA: higher priced homes
- Big Bear, CA: higher priced homes
- Bethesda, OH: higher priced homes
- Ben Avon, PA: higher priced homes
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