Sterling Heights, MI—48314
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 $356,000, with a year-over-year change of 4.8%. This indicates that home prices in Sterling Heights, MI are increasing. According to Zillow, the 1-year price projection is 1.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $356,000 | 4.8% |
| Single Family | $416,000 | 4.5% |
| Condos | $292,000 | 5.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $240,000 | 2.1% |
3 Bed | $356,000 | 4.1% |
4 Bed | $541,000 | 4.0% |
| 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 $2,080, with a year-over-year rent change of 11.2%. Per bedroom, the median rent as of July '25 in Sterling Heights, MI is 1-bedrooms: $1,240, 2-bedrooms: $1,850, 3-bedrooms: $2,850. The most common rental property sizes in Sterling Heights, MI are 1-bedroom and 2-bedroom, accounting for 46.2% and 40.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,850 | $2,080 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,100 | $1,240 |
| 2 Bed Rent | $1,820 | $1,850 |
| 3 Bed Rent | $2,500 | $2,850 |
| 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 37. This is a decrease of -13.0% 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 26.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $400,000 | -17.0% |
Listing Count | 70 | 30.0% |
| Listings as % of Homes | 0.2% | 30.0% |
Days on Market | 37 | -13.0% |
Demographics — Sterling Heights, MI
As of the latest ACS Survey released in 2023, Sterling Heights, MI has a population of 21,400, which has increased by 3.8% over the past 5 years. Sterling Heights, MI is a moderately popular place for families, as children make up 15.9% of the population. The area has a moderately educated workforce, with 36.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 14.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 21,400 | 3.8% |
% Under 18 | 15.9% | -14.5% |
% Seniors | 23.7% | 26.1% |
% WFH | 14.8% | 469.2% |
% w/ College Degree | 36.2% | 8.7% |
As of the latest ACS Survey released in 2023, Sterling Heights, MI is a predominantly white area, with 77.7% of the population identifying as white. The white population has shrunk by 7.5% in the last 5 years. The second most common race or ethnicity in Sterling Heights, MI is asian, making up 12.0% of the population. Foreign-born residents account for 24.6% of the population in Sterling Heights, MI, and this percentage has increased by 0.4% 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 | 77.7% | -7.5% |
% Black | 3.6% | -2.7% |
% Hispanic | 4.1% | 32.3% |
% Asian | 12.0% | 60.0% |
% Foreign Born | 24.6% | 0.4% |
Mortgage and Risk — Sterling Heights, MI
According to HUD data as of 2023, there were 316 mortgage originations in Sterling Heights, MI, of which 92.0% of loans were conventional mortgages. The average loan-to-value was 64.0%, with 23.0% 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. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 316 |
% Conventional Loans | 92.0% |
% Government Loans | 8.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 12.0% |
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 | 7 |
Total Units Section 8 | 7 |
% Rentals under Section 8 | 0.1% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $130 | $1,100 | $1,230 |
| 2 Bedroom | -$270 | $1,820 | $1,550 |
| 3 Bedroom | -$600 | $2,500 | $1,900 |
| 4 Bedroom | N/A | N/A | $2,060 |
Affordability — Sterling Heights, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.9 |
| Median Home Price | $356,000 |
| Median Household Income | $80,400 |