Sterling, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Sterling Neighborhoods Since 2000




Sterling, IL Real Estate Data


Sterling Housing Market Information

With a population of 15,057, 5,902 total housing units (homes and apartments), and a median house value of $94,638, 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 67.14% of the city's housing units. Other types of housing that are prevalent in Sterling include large apartment complexes or high rise apartments ( 16.18%), duplexes, homes converted to apartments or other small apartment buildings ( 11.88%), and a few row houses and other attached homes ( 2.49%).

The most prevalent building size and type in Sterling are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 63.67% owning and 36.33% renting.

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 46.50% of the city's housing hails from this era. Other housing ages represented in Sterling include homes built before 1939 ( 23.29%) and housing constructed between 1970-1999 ( 22.61%). There's also some housing in Sterling built between 2000 and later ( 7.60%).

Vacant housing appears to be an issue in Sterling. Fully 12.55% of the housing stock is classified as vacant. Left unchecked, vacant Sterling homes and apartments can be a drag on the real estate market, holding Sterling real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

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 -0.10% 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 3.85%, 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 -0.08%, which equates to an annual appreciation rate of -0.30%.

Notably, Sterling's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Illinois, our data show that Sterling's latest annual appreciation rate is lower than 80% 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:
$94,638

Sterling, IL HOME PRICES

Value Range
> $1,021,000 0.1
$765,001 - $1,021,000 0.2
$510,001 - $765,000 0.7
$409,001 - $510,000 0.3
$306,001 - $409,000 1.5
$204,001 - $306,000 4.8
$102,001 - $204,000 26.8
$51,001 - $102,000 55.6
$0 - $51,000 10.1

Low for IL
Very Low for Nation

Value Relative to Nation Value Relative to State
82.4149440768285 77.4683544303797

Number Of Homes And Apartments:
5,902

Rent & Ownership

 

Average Market Rent:
$789 / per month

Homeownership Rate

Homeownership
Owners 63.67
Renters 36.33
Vacant 12.55

Housing Market Details

 

Age of Homes

AGE OF Sterling HOMES
2000 or Newer 7.6
1970 - 1999 22.6
1940 - 1969 46.5
1939 or Older 23.3

Types of Homes

TYPE OF Sterling HOMES
Single-Family 67.1
Townhomes 2.5
Small Apt. Buildings 11.9
Apt. Complexes 16.2
Mobile Homes 2.3
Other 0.0

Home Size

SIZE OF Sterling HOMES
No Bedroom 4.68
1 Bedroom 13.32
2 Bedrooms 29.81
3 Bedrooms 36.54
4 Bedrooms 13.71
5 or more bedrooms 1.94

Sterling Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
17.32% 0.94% 3 2
* 10 is highest