Sterling, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Sterling Neighborhoods Since 2000




Sterling, IL Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Sterling Housing Market Information

With a population of 15,057, 6,129 total housing units (homes and apartments), and a median house value of $95,574, house prices in Sterling are solidly below the national average.

Single-family detached homes are the single most common housing type in Sterling, accounting for 65.04% of the city's housing units. Other types of housing that are prevalent in Sterling include large apartment complexes or high rise apartments ( 17.70%), duplexes, homes converted to apartments or other small apartment buildings ( 11.74%), and a few row houses and other attached homes ( 3.13%).

People in Sterling primarily live in small (one, two or no bedroom) single-family detached homes. Sterling has a mixture of owner-occupied and renter-occupied housing.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Sterling's housing was primarily built during this period, from the '40s through the '60s. A full 44.83% of the city's housing hails from this era. Other housing ages represented in Sterling include homes built between 1970-1999 ( 24.02%) and housing constructed before 1939 ( 21.75%). There's also some housing in Sterling built between 2000 and later ( 9.40%).

Sterling Home Appreciation Rates

Real estate appreciation rates in Sterling's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.09% during the period.

Over the last year, Sterling appreciation rates have trailed the rest of the nation. In the last twelve months, Sterling's appreciation rate has been 2.97%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Sterling were at 0.00%, which equates to an annual appreciation rate of 0.00%.

Relative to Illinois, our data show that Sterling's latest annual appreciation rate is higher than 50% of the other cities and towns in Illinois.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Sterling differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Sterling - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Sterling real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$95,574

Sterling, IL HOME PRICES

Value Range
> $1,036,000 0.1
$777,001 - $1,036,000 0.2
$518,001 - $777,000 0.8
$414,001 - $518,000 0.3
$311,001 - $414,000 1.9
$207,001 - $311,000 4.6
$104,001 - $207,000 26.2
$52,001 - $104,000 55.6
$0 - $52,000 10.3

Low for IL
Very Low for Nation

Value Relative to Nation Value Relative to State
80.4875190437126 74.6835443037975

Number Of Homes And Apartments:
6,129

Sterling Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
18.79% 1.00% 4 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$758 / per month

Homeownership Rate

Homeownership
Owners 62.56
Renters 37.44
Vacant 9.97

Housing Market Details

 

Age of Homes

AGE OF Sterling HOMES
2000 or Newer 9.4
1970 - 1999 24.0
1940 - 1969 44.8
1939 or Older 21.8

Types of Homes

TYPE OF Sterling HOMES
Single-Family 65.0
Townhomes 3.1
Small Apt. Buildings 11.7
Apt. Complexes 17.7
Mobile Homes 2.4
Other 0.0

Home Size

SIZE OF Sterling HOMES
No Bedroom 4.67
1 Bedroom 14.03
2 Bedrooms 30.49
3 Bedrooms 36.71
4 Bedrooms 11.93
5 or more bedrooms 2.17