The fire broke out in McPherson Crescent, Chapelhall, near Airdrie.
A spokesman for Strathclyde Fire and Rescue said: "The Incident Commander was faced with a rapidly developing fire with flames emanating from the shed engulfing the ground and first floor windows of the house and its roof.
"After confirming that there were no persons trapped within the houses, firefighters were immediately tasked with tackling the blaze.
"They battled through the intense heat and flame to attack the fire within the shed and the house."
At the height of the blaze crews from Motherwell, Coatbridge, Cumbernauld, Bellshill and Milngavie Community Fire Stations were in attendance.
Firefighters used thermal image cameras to locate hidden fire spread within the roof space and high reach appliances to gain access to the roof. Crews remained at the scene last night.
An investigation into the cause of the fire will be undertaken by Strathclyde Police and Strathclyde Fire and Rescue.
Area Commander David Proctor warned that sheds are often full of fire hazards, such as spare petrol, paper recycling, tins of paint and gas bottles.