Sterling Heights, MI—48313
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 $291,000, with a year-over-year change of 3.7%. This indicates that home prices in Sterling Heights, MI are increasing. According to Zillow, the 1-year price projection is 0.8%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $291,000 | 3.7% |
| Single Family | $303,000 | 3.4% |
| Condos | $210,000 | 2.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $208,000 | 1.5% |
3 Bed | $303,000 | 2.7% |
4 Bed | $374,000 | 3.0% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Sterling Heights, MI
As of July '25, Rentcast reports the average rent in Sterling Heights, MI is $1,810, with a year-over-year rent change of -3.7%. Per bedroom, the median rent as of July '25 in Sterling Heights, MI is 1-bedrooms: $1,170, 2-bedrooms: $1,610, 3-bedrooms: $2,170. The most common rental property sizes in Sterling Heights, MI are 2-bedroom and 1-bedroom, accounting for 40.9% and 40.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,700 | $1,810 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,120 | $1,170 |
| 2 Bed Rent | $1,600 | $1,610 |
| 3 Bed Rent | $1,950 | $2,170 |
| 4 Bed Rent | N/A | N/A |
% 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 27. This is a increase of 24.0% 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 25.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $315,000 | 4.0% |
Listing Count | 80 | -8.0% |
| Listings as % of Homes | 0.3% | -8.0% |
Days on Market | 27 | 24.0% |
Demographics — Sterling Heights, MI
As of the latest ACS Survey released in 2023, Sterling Heights, MI has a population of 33,800, 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 19.0% of the population. The area has a moderately educated workforce, with 32.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 15.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 33,800 | 0.7% |
% Under 18 | 19.0% | -5.0% |
% Seniors | 19.0% | 9.2% |
% WFH | 15.2% | 442.9% |
% w/ College Degree | 32.1% | 19.8% |
As of the latest ACS Survey released in 2023, Sterling Heights, MI is a predominantly white area, with 84.6% of the population identifying as white. The white population has shrunk by 4.2% in the last 5 years. The second most common race or ethnicity in Sterling Heights, MI is black, making up 6.8% of the population. Foreign-born residents account for 17.3% of the population in Sterling Heights, MI, and this percentage has increased by 26.3% 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 | 84.6% | -4.2% |
% Black | 6.8% | 30.8% |
% Hispanic | 1.9% | -47.2% |
% Asian | 3.3% | 94.1% |
% Foreign Born | 17.3% | 26.3% |
Mortgage and Risk — Sterling Heights, MI
According to HUD data as of 2023, there were 557 mortgage originations in Sterling Heights, MI, of which 87.0% of loans were conventional mortgages. The average loan-to-value was 60.0%, with 27.0% 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. 18.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 557 |
% Conventional Loans | 87.0% |
% Government Loans | 13.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 18.0% |
Loan Activity
Rentals and Section 8 — Sterling Heights, MI
Sterling Heights, MI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 695 |
Total Units Section 8 | 640 |
% Rentals under Section 8 | 18.3% |
% Occupied Section 8 | 93.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$10 | $1,120 | $1,110 |
| 2 Bedroom | -$200 | $1,600 | $1,400 |
| 3 Bedroom | -$240 | $1,950 | $1,710 |
| 4 Bedroom | N/A | N/A | $1,860 |
Affordability — Sterling Heights, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.9 |
| Median Home Price | $291,000 |
| Median Household Income | $87,300 |