Sterling Heights, Michigan Housing Market Prices
Sterling Heights Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 100% above the Michigan median$277,720
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Median rent 14% above the Michigan median$1,292
Housing Market Overview
| Metric | Sterling Heights | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $277,720 | $138,713 | $248,835 |
| Price Trend (Annual %) | 12.0% | 8.6% | 7.5% |
| Median Gross Rent | $1,292 | $1,129 | $1,407 |
| Rent Trend (Annual %) | 4.4% | 4.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Sterling Heights is about 100% higher than in Michigan. Rent is about 14% higher than the Michigan average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Sterling Heights, up about 12.0% and 4.4% a year respectively. Home prices are changing faster.
Median rent in Sterling Heights rose about 44.4% between 2015 and 2024, from $895 to $1,292. Over the same span, rent in Michigan rose about 44.2%.
Affordability
On average, housing unit costs 3.5 yearly household incomes in Sterling Heights.
Buying the median-priced home in Sterling Heights costs roughly 17.9 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Sterling Heights. The price-to-rent ratio in Michigan is about 10.2.
| Metric | Sterling Heights | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $277,720 | $138,713 | $248,835 |
| Median Household Income | $79,961 | $72,977 | $80,455 |
| Price-to-Income Ratio | 3.5 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Sterling Heights rose about 147.5%, while median household income rose about 27.6% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Sterling Heights | Michigan Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 73.1% | 64.6% | 58.5% |
| Rental Rate | 23.4% | 23.6% | 31.2% |
| Vacancy Rate | 3.5% | 11.8% | 10.2% |
| Median Tenure (years) | 17.0 | 16.0 | 15.0 |
| Median Year Moved In | 2009 | 2010 | 2011 |
Sterling Heights has a homeownership rate of 73.1%, higher than the Michigan average of 64.6%. Its housing vacancy rate is 3.5%, compared with 11.8% in Michigan.
Housing Stock
| Metric | Sterling Heights | Michigan Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.56 people | 2.42 people | 2.53 people |
| Median Structure Built Year | 1979 | 1972 | 1978 |
| Median Number of Rooms | 5.8 | 5.9 | 5.5 |
The typical housing unit in Sterling Heights was built around 1979. On average, 2.6 people live in a home with about 5.8 rooms, staying for about 17.0 years on average.
Sterling Heights, MI Housing Compared With Nearby Cities
How Sterling Heights, MI compares with the 2 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Sterling Heights, MI | 133,426 | $277,720 #1/3 | $1,292 #1/3 | 75.8% #1/3 |
| Warren, MI | 137,927 | $150,587 | $1,225 | 71.1% |
| Madison Heights, MI | 28,434 | $145,331 | $1,175 | 64.8% |
Frequently Asked Questions
Common questions about the housing market in Sterling Heights, Michigan.
What is the median home price in Sterling Heights, Michigan?
The median home price in Sterling Heights, Michigan is $277,720, higher than the Michigan average of $138,713.
What is the average home price in Sterling Heights, Michigan?
The typical home price in Sterling Heights, Michigan, reported as the median sale price, is $277,720. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Sterling Heights, Michigan?
The median gross rent in Sterling Heights, Michigan is $1,292 per month, higher than the Michigan average of $1,129.
What was the median gross rent in Sterling Heights in 2020?
In 2020, the median gross rent in Sterling Heights, Michigan was $1,051 per month.
What is the price-to-rent ratio in Sterling Heights, Michigan?
The price-to-rent ratio in Sterling Heights, Michigan is about 17.9, meaning it would take roughly 17.9 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Sterling Heights.
Are home prices or rent rising faster in Sterling Heights, Michigan?
Both home prices and rent are rising in Sterling Heights, up about 12.0% and 4.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Sterling Heights, Michigan?
73.1% of households in Sterling Heights, Michigan own their home, higher than the Michigan average of 64.6%.
What is the vacancy rate in Sterling Heights, Michigan?
The housing vacancy rate in Sterling Heights, Michigan is 3.5%, lower than the Michigan average of 11.8%.
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