Sterling Heights, MI48310

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$312,000
4.3% YoY Growth
Median Household Income
$77,900
33.1% 5-Year Growth
Days on Market
34
7.0% Longer than last year
Home Price Forecast
1.0%
Median Rent
$2,200
3.9% YoY Growth
1-Bed Rent
$1,310
29.3% YoY Growth
2-Bed Rent
$1,850
2.1% YoY Growth
3-Bed Rent
$2,200
0.9% YoY Growth

Other Zip Codes in Sterling Heights, MI

Property Listings — Sterling Heights, MI

As of Oct '25, Realtor.com reports that the median days on market for a home in Sterling Heights, MI is 34. This is a increase of 7.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 23.0%, representing a small inventory and little supply pressure on home prices.

MetricZip Code AverageYear over Year % Change
Median Listing Price
$341,0003.0%
Listing Count
10521.0%
Listings as % of Homes0.3%21.0%
Days on Market
347.0%
Loading chart...

Demographics — Sterling Heights, MI

As of the latest ACS Survey released in 2023, Sterling Heights, MI has a population of 43,200, which has remained stable by -0.5% over the past 5 years. Sterling Heights, MI is a moderately popular place for families, as children make up 21.8% of the population. The area has a moderately educated workforce, with 28.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 13.9% reporting working from home.

MetricLatest CensusYoY % Change
Population
43,200-0.5%
% Under 18
21.8%8.5%
% Seniors
16.6%-3.5%
% WFH
13.9%456.0%
% w/ College Degree
28.1%8.5%
Loading chart...

As of the latest ACS Survey released in 2023, Sterling Heights, MI is a predominantly white area, with 76.2% of the population identifying as white. The white population has shrunk by 4.5% in the last 5 years. The second most common race or ethnicity in Sterling Heights, MI is asian, making up 11.6% of the population. Foreign-born residents account for 38.5% of the population in Sterling Heights, MI, and this percentage has decreased by 4.7% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

Race and Ethnicity

MetricLatest Census5-Year % Change
% White
76.2%-4.5%
% Black
5.4%8.0%
% Hispanic
1.8%38.5%
% Asian
11.6%6.4%
% Foreign Born
38.5%-4.7%
Loading chart...

Mortgage and Risk — Sterling Heights, MI

According to HUD data as of 2023, there were 541 mortgage originations in Sterling Heights, MI, of which 89.0% of loans were conventional mortgages. The average loan-to-value was 63.0%, with 21.0% above 90% LTV (very high). This implies large mortgage risk in Sterling Heights, MI. Investor activity is low, as 2.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

Mortgages

MetricZip Code Average
Total Loan Originations
541
% Conventional Loans
89.0%
% Government Loans
11.0%
% Investor Loans
2.0%
% Second Loans
1.0%
% Cash Out Refinance
13.0%

Loan Activity

Loading chart...
Loading chart...

Rentals and Section 8 — Sterling Heights, MI

As of 2024, the percent of homes in Sterling Heights, MI under the Section 8 program is 11.7%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Sterling Heights, MI, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.

Section 8 Market Size

Total Units under HUD
380
Total Units Section 8
380
% Rentals under Section 8
11.7%
% Occupied Section 8
92.2%

Section 8 Opportunity

Home SizeHUD PremiumMarket RentMax HUD Rent
1 Bedroom-$60$1,310$1,250
2 Bedroom-$270$1,850$1,580
3 Bedroom-$260$2,200$1,940
4 Bedroom-$360$2,450$2,090

Affordability — Sterling Heights, MI

Home Price to Income Ratio

MetricZip Code Average
Home Price to Income Ratio3.5
Median Home Price$312,000
Median Household Income$77,900

Sterling Heights, MI — ZIP Code Boundary Map

Loading map...

Frequently Asked Questions