Why Live in Sherman Terrace
Sherman Terrace, a small neighborhood in Madison, is situated between the Yahara River and Lake Mendota, less than three miles northeast of downtown. This area provides residents with numerous recreational activities and easy access to the city's outdoor amenities, local shops, and eateries. Public transportation and local roads facilitate convenient travel throughout Dane County. Housing options in Sherman Terrace include condominiums, apartment complexes, and a few waterfront homes. Condos typically feature modern kitchen appliances and updated interiors, while the waterfront homes, built between the 1930s and 1950s, often come with private docks. The neighborhood is served by highly rated schools: Emerson Elementary School, Sherman Middle School, and Madison East High School. Emerson Elementary offers a Music con Brio program, Sherman Middle boasts a favorable student-teacher ratio, and Madison East High provides an Academic and Career Planning program. For things to do, residents can visit JiggyJamz Records and CDs, Chocolate Shoppe Ice Cream Co, Far Breton Bakery, Banzo, and Lola’s Hi/Lo Lounge. Outdoor enthusiasts can enjoy Filene Park, the Tenney Park Boat Launch, and paddling on the Yahara River. The neighborhood's proximity to downtown Madison and availability of Metro Transit stops along East Johnson Street and Fordem Avenue enhance its accessibility.
Frequently Asked Questions
Is Sherman Terrace a good place to live?
Sherman Terrace is a good place to live. Sherman Terrace is considered car-dependent and very bikeable with some transit options. Sherman Terrace has 6 parks for recreational activities. It is very dense in population with 27.9 people per acre and a median age of 34. The average household income is $57,403 which is below the national average. College graduates make up 41.7% of residents. A majority of residents in Sherman Terrace are renters, with 80.8% of residents renting and 19.2% of residents owning their home. A
local real estate agent serving Sherman Terrace can help you decide if this neighborhood is the right one for you. Learn more on our
Sherman Terrace neighborhood guide.
How much do you need to make to afford a house in Sherman Terrace?
The median home price in Sherman Terrace is $222,400. If you put a 20% down payment of $44,500 and had a 30-year fixed mortgage with an interest rate of 6.56%, your estimated principal and interest payment would be $1,130 a month plus property taxes, HOA fees, home insurance, PMI, and utilities. Using the 28% rule, you would need to make at least $48K a year to afford the median home price in Sherman Terrace. The average household income in Sherman Terrace is $57K.
What are the best public schools in Sherman Terrace?
The best public schools that serve Sherman Terrace are:
What are the most popular zip codes in Sherman Terrace, Madison, WI?
What are the most popular neighborhoods near Sherman Terrace, Madison, WI?
Home Trends in Sherman Terrace, WI
On average, homes in Sherman Terrace, Madison sell after 15 days on the market compared to the national average of 52 days. The median sale price for homes in Sherman Terrace, Madison over the last 12 months is $215,000, up 2% from the median home sale price over the previous 12 months.
Median Sale Price
$215,000
Median 2 Bedroom Sale Price
$222,500
Average Price Per Sq Ft
$253
Number of Homes for Sale
2
Last 12 months Home Sales
14
Median List Price
$222,400
Median Change From 1st List Price
1%
Median Home Sale Price YoY Change
2%