Sterling, VA Real Estate Market

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 Q4 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Sterling, VA Housing Market Trends

With 32,354 people, 9,314 houses or apartments, and a median cost of homes of $443,499, Sterling house prices are not only among the most expensive in Virginia, Sterling real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Sterling, accounting for 52.43% of the town's housing units. Other types of housing that are prevalent in Sterling include row houses and other attached homes ( 28.32%), large apartment complexes or high rise apartments ( 15.24%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.09%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Sterling. Owner-occupied housing accounts for 72.93% of Sterling's homes, and 62.95% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Sterling built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Sterling built between 1940-1969 ( 26.08%). A lesser amount of the housing stock also hails from between 2000 and later ( 4.14%). There's also some housing in Sterling built before 1939 ( 1.45%).

Sterling Home Appreciation Rates

Appreciation rates for homes in Sterling have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 51.60%, which ranks in the top 30% nationwide. This equates to an annual average Sterling house appreciation rate of 4.25%.

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 4.35%, 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 1.46%, which equates to an annual appreciation rate of 5.95%.

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

Relative to Virginia, our data show that Sterling's latest annual appreciation rate is lower than 80% of the other cities and towns in Virginia.

One very important thing to keep in mind is that these are average appreciation rates for the town. 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:
$443,499

Sterling, VA HOME PRICES

> $1,145,000
0.3%
0.3%
$859,001 - $1,145,000
1.1%
1.1%
$572,001 - $859,000
9.3%
9.3%
$458,001 - $572,000
24.8%
24.8%
$343,001 - $458,000
35.8%
35.8%
$229,001 - $343,000
20.2%
20.2%
$114,001 - $229,000
6.7%
6.7%
$57,001 - $114,000
0.7%
0.7%
$0 - $57,000
1.2%
1.2%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for VA

Value Relative To Nation

Number Of Homes And Apartments:
9,314

Sterling Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
VA*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
129.46% 4.03%
10
9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,530 / per month

Homeownership Rate

Owners
72.9%
72.9%
Renters
27.1%
27.1%
Vacant
3.4%
3.4%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
4.1%
4.1%
1970 - 1999
68.3%
68.3%
1940 - 1969
26.1%
26.1%
1939 or Older
1.5%
1.5%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
52.4%
52.4%
Townhomes
28.3%
28.3%
Small Apt. Buildings
3.1%
3.1%
Apt. Complexes
15.2%
15.2%
Mobile Homes
0.9%
0.9%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.8%
1.8%
1 Bedroom
5.2%
5.2%
2 Bedrooms
19.4%
19.4%
3 Bedrooms
37.6%
37.6%
4 Bedrooms
25.3%
25.3%
5 or more bedrooms
10.7%
10.7%
0.0% 100.0%
% OF HOMES