The housing stock in Sheridan County, Wyoming has increased by 6.2% in the last three years, with an additional 929 units added. This growth was the second fastest in the state, only behind Lincoln County. Despite the increase in housing units, the average age of residents in Sheridan County has also increased, with a significant portion of the population being 65 and older.
The rise in housing units can be attributed to an increase in population, with Sheridan County seeing the most growth since 2020 compared to other counties in Wyoming. The population increase is primarily due to net in-migration, as births slightly surpassed deaths for the first time.
The aging population in Wyoming is a growing concern, as the median age of residents has risen to 39.7 years, the most rapid increase in the nation. The proportion of elderly residents, particularly in retirement age, is also high in counties like Sheridan and Park where there is a trend of retirees moving in.
This aging population has led to a statewide labor shortage, as the number of resident workers is insufficient to fill positions vacated by retiring baby boomers. Wyoming has one of the highest proportions of residents aged 59-77 and one of the lowest proportions of Generation X residents.
As Wyoming grapples with an aging population and labor shortage, it will need to address the challenges of attracting and retaining a diverse workforce to ensure economic growth and stability in the future.
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