Sherwood, MI
Population 388 · Michigan
About Sherwood, MI
Sherwood is a small community located in Michigan with a population of 388 residents according to the latest US Census Bureau American Community Survey data. The median household income is $56,645 per year, which is 25% below the national median of $75,149. The median age of 34.7 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in Sherwood features a median home value of $72,500, which is 70% below the national median of $244,900. This makes Sherwood one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $738, 37% below the national average of $1,163/month. Of the 134 total housing units, 87% are owner-occupied (111 units) and 13% are renter-occupied (16 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Sherwood shows an unemployment rate of 12.9%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 14.7%, above the national average of 12.4%. Workers in Sherwood have an average one-way commute time of 27.1 minutes.
Education & Demographics
3.3% of Sherwood residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 0.0% White, 2.8% Hispanic or Latino, 0.3% Black or African American, and 1.3% Asian residents, with 0.0% of the population being foreign-born.
How Sherwood Ranks in Michigan
Cost of Living in Sherwood, MI
Compared to national averages, Sherwood has a median household income of $56,645 (25% below the national median of $75,149). Home values average $72,500, which is 70% below the national median. Monthly rent at $738 is 37% below the US average of $1,163. Within Michigan, Sherwood's income is 14% below the state average of $66,017, and home values are 60% below the state median of $183,391.
Why Live in Sherwood, MI?
Sherwood offers affordable housing with a median home value of $72,500, below the US average of $244,900, and rent that’s lower than the national average at $738/month.
Potential considerations include median household income ($56,645) that falls below the national average. However, Sherwood’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Sherwood has a population of 388 with a median age of 34.7 years. Compare Sherwood with other cities to see how it stacks up, or explore all cities in Michigan.
Similar Cities Near Sherwood
Cities in Michigan with a similar population size.
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Michigan
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Sherwood With Other Cities
Frequently Asked Questions about Sherwood
What is the population of Sherwood, MI?
The population of Sherwood, MI is 388 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Michigan.
What is the median household income in Sherwood?
The median household income in Sherwood, MI is $56,645 per year, which is 25% below the national median of $75,149.
What is the median home value in Sherwood?
The median home value in Sherwood, MI is $72,500, which is 70% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Sherwood?
The median monthly rent in Sherwood, MI is $738, which is 37% below the national average of $1,163/month.
What is the unemployment rate in Sherwood?
The unemployment rate in Sherwood, MI is 12.9%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Sherwood, MI a good place to live?
Sherwood offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 388 and a median age of 34.7, the city appeals to young professionals and families.
How educated is Sherwood, MI?
3.3% of residents in Sherwood aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Sherwood?
Key cost-of-living indicators for Sherwood, MI: median home value is $72,500 (70% below national), median rent is $738/month, and median household income is $56,645. The home-value-to-income ratio is 1.3x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Sherwood?
The poverty rate in Sherwood, MI is 14.7%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Sherwood, MI?
Sherwood's population is 0.0% White, 2.8% Hispanic or Latino, 0.3% Black or African American, 1.3% Asian, and 0.0% two or more races. 0.0% of residents are foreign-born.