Sterling Heights, MI—48310
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Sterling Heights, MI
As of Oct '25, the median home price in Sterling Heights, MI is $312,000, with a year-over-year change of 4.3%. This indicates that home prices in Sterling Heights, MI are increasing. According to Zillow, the 1-year price projection is 1.0%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $312,000 | 4.3% |
| Single Family | $314,000 | 4.0% |
| Condos | $256,000 | 3.6% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $223,000 | 3.2% |
3 Bed | $313,000 | 3.6% |
4 Bed | $349,000 | 3.3% |
| 5 Bed | $385,000 | 3.2% |
% of Housing Stock
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 |
% of Rental Stock
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.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $341,000 | 3.0% |
Listing Count | 105 | 21.0% |
| Listings as % of Homes | 0.3% | 21.0% |
Days on Market | 34 | 7.0% |
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% |
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% |
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% |
Loan Activity
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 |
Affordability — Sterling Heights, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.5 |
| Median Home Price | $312,000 |
| Median Household Income | $77,900 |