Sterling Heights, MI 48312 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

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Sterling Heights, MI—48312

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$284,000

4.2% YoY Growth

Household Income

$71,300

16.6% YoY Growth

Days on Market

43

17.0% Longer YoY

Home Price Forecast

1.8%

Median Rent

$1,800

2.7% YoY Growth

1-Bed Rent

$995

2.7% YoY Growth

2-Bed Rent

$1,650

9.4% YoY Growth

3-Bed Rent

$2,200

3.8% YoY Growth

Other Zip Codes in Sterling Heights, MI

48310 48314 48313

Home Price Trends — Sterling Heights, MI

As of Nov '25, the median home price in Sterling Heights, MI is $284,000, with a year-over-year change of 4.2%. This indicates that home prices in Sterling Heights, MI are increasing. According to Zillow, the 1-year price projection is 1.8%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$284,000	4.2%
Single Family	$297,000	3.5%
Condos	$174,000	3.0%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

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

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% of Rental Stock

Studio

4.9%

1 Bedroom

44.6%

2 Bedrooms

29.9%

3 Bedrooms

14.8%

4 Bedrooms

5.8%

Property Listings — Sterling Heights, MI

As of Nov '25, Realtor.com reports that the median days on market for a home in Sterling Heights, MI is 43. This is a increase of 17.0% 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	$297,000	0.0%
Listing Count	104	-8.0%
Listings as % of Homes	0.4%	-8.0%
Days on Market	43	17.0%

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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%

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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%

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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%

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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