Sterling Heights, MI 48310 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

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Sterling Heights, MI—48310

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$324,000

3.0% YoY Growth

Household Income

$77,900

33.1% YoY Growth

Days on Market

27

6.0% Shorter YoY

Home Price Forecast

-0.1%

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

48312 48314 48313

Home Price Trends — Sterling Heights, MI

As of May '26, the median home price in Sterling Heights, MI is $324,000, with a year-over-year change of 3.0%. This indicates that home prices in Sterling Heights, MI are increasing. According to Zillow, the 1-year price projection is -0.1%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$324,000	3.0%
Single Family	$327,000	2.8%
Condos	$261,000	2.8%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Sterling Heights, MI

As of July '25, Rentcast reports the average rent in Sterling Heights, MI is $2,240, with a year-over-year rent change of -3.9%. Per bedroom, the median rent as of July '25 in Sterling Heights, MI is 1-bedrooms: $1,810, 2-bedrooms: $1,840, 3-bedrooms: $2,270, 4-bedrooms: $2,560. The most common rental property sizes in Sterling Heights, MI are 2-bedroom and 3-bedroom, accounting for 40.5% and 26.1% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$2,200	$2,240
Studio Rent	N/A	N/A
1 Bed Rent	$1,310	$1,810
2 Bed Rent	$1,850	$1,840
3 Bed Rent	$2,200	$2,270
4 Bed Rent	$2,450	$2,560

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% of Rental Stock

Studio

6.5%

1 Bedroom

18.9%

2 Bedrooms

40.5%

3 Bedrooms

26.1%

4 Bedrooms

7.8%

5+ Bedrooms

0.2%

Property Listings — Sterling Heights, MI

As of May '26, Realtor.com reports that the median days on market for a home in Sterling Heights, MI is 27. This is a decrease of -6.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 13.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$350,000	6.0%
Listing Count	91	24.0%
Listings as % of Homes	0.3%	24.0%
Days on Market	27	-6.0%

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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.

Metric	Latest Census	YoY % 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%

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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

Metric	Latest Census	5-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%

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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

Metric	Zip 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%

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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 Size	HUD Premium	Market Rent	Max 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