Sterling Heights, MI—48312
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 $287,000, 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 | $287,000 | 4.3% |
| Single Family | $300,000 | 3.4% |
| Condos | $175,000 | 2.9% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $175,000 | 1.7% |
3 Bed | $301,000 | 3.4% |
4 Bed | $351,000 | 2.6% |
| 5 Bed | $347,000 | 2.7% |
% of Housing Stock
Rental Trends — Sterling Heights, MI
As of July '25, Rentcast reports the average rent in Sterling Heights, MI is $1,910, with a year-over-year rent change of 2.7%. Per bedroom, the median rent as of July '25 in Sterling Heights, MI is studios: $1,070, 1-bedrooms: $1,080, 2-bedrooms: $1,630, 3-bedrooms: $2,280, 4-bedrooms: $2,490. The most common rental property sizes in Sterling Heights, MI are 1-bedroom and 2-bedroom, accounting for 44.6% and 29.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,800 | $1,910 |
| Studio Rent | $850 | $1,070 |
| 1 Bed Rent | $995 | $1,080 |
| 2 Bed Rent | $1,650 | $1,630 |
| 3 Bed Rent | $2,200 | $2,280 |
| 4 Bed Rent | $2,500 | $2,490 |
% 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 32. This is a increase of 1.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 27.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $299,000 | 1.0% |
Listing Count | 105 | -6.0% |
| Listings as % of Homes | 0.4% | -6.0% |
Days on Market | 32 | 1.0% |
Demographics — Sterling Heights, MI
As of the latest ACS Survey released in 2023, Sterling Heights, MI has a population of 35,000, which has remained stable by 0.7% over the past 5 years. Sterling Heights, MI is a moderately popular place for families, as children make up 20.2% of the population. The area has a moderately educated workforce, with 30.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 35,000 | 0.7% |
% Under 18 | 20.2% | -6.0% |
% Seniors | 16.7% | -6.7% |
% WFH | 11.8% | 521.1% |
% w/ College Degree | 30.7% | 3.0% |
As of the latest ACS Survey released in 2023, Sterling Heights, MI is a predominantly white area, with 74.6% of the population identifying as white. The white population has shrunk by 2.5% in the last 5 years. The second most common race or ethnicity in Sterling Heights, MI is black, making up 9.5% of the population. Foreign-born residents account for 25.2% of the population in Sterling Heights, MI, and this percentage has increased by 1.6% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 74.6% | -2.5% |
% Black | 9.5% | 6.7% |
% Hispanic | 2.6% | -10.3% |
% Asian | 9.3% | 3.3% |
% Foreign Born | 25.2% | 1.6% |
Mortgage and Risk — Sterling Heights, MI
According to HUD data as of 2023, there were 608 mortgage originations in Sterling Heights, MI, of which 88.0% of loans were conventional mortgages. The average loan-to-value was 64.0%, with 27.0% above 90% LTV (very high). This implies large mortgage risk in Sterling Heights, MI. Investor activity is low, as 1.0% of loans were by investors. 15.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 608 |
% Conventional Loans | 88.0% |
% Government Loans | 12.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 15.0% |
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 1.5%. 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. 1-bedroom units appear to be good home sizes to consider for Section 8 housing in Sterling Heights, MI, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 207 |
Total Units Section 8 | 53 |
% Rentals under Section 8 | 1.5% |
% Occupied Section 8 | 87.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $45 | $995 | $1,040 |
| 2 Bedroom | -$330 | $1,650 | $1,320 |
| 3 Bedroom | -$580 | $2,200 | $1,620 |
| 4 Bedroom | -$750 | $2,500 | $1,750 |
Affordability — Sterling Heights, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.5 |
| Median Home Price | $287,000 |
| Median Household Income | $71,300 |