Sterling, IL—61081
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Sterling, IL
As of Oct '25, the median home price in Sterling, IL is $134,000, with a year-over-year change of 2.3%. This indicates that home prices in Sterling, IL 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 | $134,000 | 2.3% |
| Single Family | $134,000 | 2.3% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $104,000 | 4.0% |
3 Bed | $150,000 | 3.4% |
4 Bed | $188,000 | 5.0% |
| 5 Bed | $236,000 | 5.8% |
% of Housing Stock
Rental Trends — Sterling, IL
As of July '25, Rentcast reports the average rent in Sterling, IL is $1,110, with a year-over-year rent change of -1.8%. Per bedroom, the median rent as of July '25 in Sterling, IL is studios: $675, 1-bedrooms: $650, 2-bedrooms: $1,100, 3-bedrooms: $1,350, 4-bedrooms: $2,200. The most common rental property sizes in Sterling, IL are 2-bedroom and 1-bedroom, accounting for 43.6% and 28.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $700 | $1,110 |
| Studio Rent | $650 | $675 |
| 1 Bed Rent | $650 | $650 |
| 2 Bed Rent | $1,100 | $1,100 |
| 3 Bed Rent | $1,350 | $1,350 |
| 4 Bed Rent | $2,200 | $2,200 |
% of Rental Stock
Property Listings — Sterling, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Sterling, IL is 36. This is a decrease of -2.0% 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 29.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $151,000 | 12.0% |
Listing Count | 83 | 42.0% |
| Listings as % of Homes | 0.5% | 42.0% |
Days on Market | 36 | -2.0% |
Demographics — Sterling, IL
As of the latest ACS Survey released in 2023, Sterling, IL has a population of 20,900, which has remained stable by -1.0% over the past 5 years. Sterling, IL is a moderately popular place for families, as children make up 20.2% of the population. The area has a poorly educated workforce, with 20.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 3.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 20,900 | -1.0% |
% Under 18 | 20.2% | -12.2% |
% Seniors | 22.5% | 15.4% |
% WFH | 3.0% | 30.4% |
% w/ College Degree | 20.2% | -4.3% |
As of the latest ACS Survey released in 2023, Sterling, IL is a predominantly white area, with 72.3% of the population identifying as white. The white population has shrunk by 2.3% in the last 5 years. The second most common race or ethnicity in Sterling, IL is hispanic, making up 20.8% of the population. Foreign-born residents account for 4.5% of the population in Sterling, IL, and this percentage has decreased by 19.6% 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 | 72.3% | -2.3% |
% Black | 1.9% | -17.4% |
% Hispanic | 20.8% | -1.4% |
% Asian | 1.0% | 0.0% |
% Foreign Born | 4.5% | -19.6% |
Mortgage and Risk — Sterling, IL
According to HUD data as of 2023, there were 230 mortgage originations in Sterling, IL, of which 69.0% of loans were conventional mortgages. The average loan-to-value was 79.0%, with 33.0% above 90% LTV (very high). This implies large mortgage risk in Sterling, IL. Investor activity is low, as 12.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 230 |
% Conventional Loans | 69.0% |
% Government Loans | 31.0% |
% Investor Loans | 12.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Sterling, IL
Sterling, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 233 |
Total Units Section 8 | 190 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 82.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $20 | $650 | $670 |
| 2 Bedroom | -$230 | $1,100 | $870 |
| 3 Bedroom | -$260 | $1,350 | $1,090 |
| 4 Bedroom | -$1,040 | $2,200 | $1,160 |
Affordability — Sterling, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2 |
| Median Home Price | $134,000 |
| Median Household Income | $60,900 |