Sterling Heights, MI
Macomb County · Pop. 134,346
Ranked #44 of 243 cities
54Moderate
Median Home Price
🏠$250K
4.8% YoY
Median Rent
🔑$1,250
3.0% YoY
Median Income
💰$62K
Rent Burden
📊27.0%
% of income to rent
Income to Buy
🏦$72K
annual income needed
Income to Rent
📝$50K
annual income needed
Price-to-Income
⚖️4.0x
Homeownership
🏡78.0%
Rent vs. Buy
Buy
$1,331/mo
Est. mortgage (7%, 20% down)
Need $72K/yr income
Rent
$1,250/mo
Median rent
Need $50K/yr income
How Sterling Heights Compares
| Metric | Sterling Heights | Michigan | National |
|---|---|---|---|
| Home Price | $250K | $236K | $410K |
| Rent | $1,250 | $1,101 | $1,500 |
| Income | $62K | $69K | $75K |
| Rent Burden | 27.0% | 30.0% | 30.0% |
Key Takeaways
- • Home prices in Sterling Heights are 39% lower than the national average.
- • Rent is 17% lower than the national average.
- • You need an income of $72K to comfortably buy a home here.
- • The homeownership rate is 78.0%, compared to 65.0% nationally.