The typical owner-occupied home in Sterling is worth about $353,400, about the same as the Alaska median of $352,900 and 6% above the national median of $332,700. Owners pay a median $2,223 a year in property taxes, about 0.63% of their home's value, lower than the Alaska rate of 1.11%. The median household earns $102,415 a year, so the median home costs 3.5 times the median income (3.8 times for Alaska). 87% of occupied homes here are lived in by their owners, and 49% of those owners still have a mortgage.
Sterling at a glance
| Sterling | Alaska | U.S. | |
|---|---|---|---|
| Median home value | $353,400 | $352,900 | $332,700 |
| Median property tax paid per year | $2,223 | $3,901 | $3,119 |
| Property tax as a share of value | 0.63% | 1.11% | 0.94% |
| Median household income | $102,415 | $92,788 | $80,734 |
| Homes lived in by their owners | 87% | 67% | 65% |
| Owner homes with a mortgage | 49% | 60% | 61% |
| Median monthly costs, owners with a mortgage | $2,050 | $2,229 | $1,963 |
| Those costs as a share of the owners' income | 18.6% | 21.6% | 21.0% |
| Median rent | $1,248 | $1,419 | $1,413 |
| Rent as a share of renters' income | 20.8% | 27.7% | 30.6% |
| Median year homes were built | 1994 | 1986 | 1980 |
| Vacant homes | 29.0% | 17.6% | 10.1% |
| Population | 6,323 | 735,706 | 334,922,499 |
What a typical home costs per month in Sterling
At this week's average 30-year rate of 7.11%, buying the median Sterling home of $353,400 with 20% down costs about $2,235 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,823, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $95,772 for the 20%-down payment. That payment is 26% of the median Sterling household income of $102,415; at that income and 20% down, the 28% guideline points to a home of about $378,000.
The median rent here is $1,248 a month, so owning the median home costs about $987 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $70,680 |
|---|---|
| Loan amount | $282,720 |
| Principal and interest | $1,902 |
| Property taxes (0.63% a year) | $186 |
| Homeowners insurance (our estimate, 0.5% a year) | $147 |
| PMI | $0 |
| Total per month | $2,235 |
Change the numbers in the calculator
| Down payment | $12,369 |
|---|---|
| Loan amount | $346,999 |
| Principal and interest | $2,334 |
| Property taxes (0.63% a year) | $186 |
| Homeowners insurance (our estimate, 0.5% a year) | $147 |
| FHA mortgage insurance | $156 |
| Total per month | $2,823 |
Change the numbers in the calculator
Questions about home buying in Sterling
What is the median home value in Sterling?
About $353,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Sterling?
Homeowners pay a median $2,223 a year, which is about 0.63% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Sterling?
For the median home with 20% down at 7.11%, the payment is about $2,235 a month. Keeping that under 28% of gross income takes about $95,772 a year.
More about Sterling
- Mortgage Refinance in Sterling
- Debt Relief in Sterling
- Home Equity Loans in Sterling
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data