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The Stone House is locally significant under Criterion A because of its contributions to the social history of Sheridan County, Wyoming as well as the development of homesteading and ranching in Wyoming during the early years of the twentieth century. The Stone House represents the development of homesteading in northern Wyoming and the impacts that the Homestead Act of 1862 had on the state. Originally homesteaded in the late 1880s, the property had multiple owners until the 1920s reflecting the volatile nature of ranching in Wyoming. The Stone House meets the registration requirements for Wyoming's Multiple Property Documentation Form (MPDF) Wyoming Homesteading, Ranching, and Farming 1860-1960, because of its association with homesteading and ranching in Sheridan County, Wyoming. The Stone House illustrates the struggles and successes of Wyoming's homesteaders during the late 19th and 20th centuries. 

The Stone House is significant under Criterion C, because it is an uncommonly well-maintained property. The property is situated in a very rural, undeveloped area, which contributes to the property's excellent integrity. Despite the addition of agricultural buildings, the Stone House maintains integrity of setting, location, feeling, and association because of the preservation of the surrounding rangeland and the preservation of the historic buildings. The historic buildings have not been altered significantly since construction and retain excellent integrity of design, materials, and workmanship.