The typical owner-occupied home in Sterling is worth about $130,400, 45% below the Nebraska median of $238,600 and 61% below the national median of $332,700. Owners pay a median $1,770 a year in property taxes, about 1.36% of their home's value, lower than the Nebraska rate of 1.49%. The median household earns $70,313 a year, so the median home costs 1.9 times the median income (3.1 times for Nebraska). 78% of occupied homes here are lived in by their owners, and 52% of those owners still have a mortgage.
Sterling at a glance
| Sterling | Nebraska | U.S. | |
|---|---|---|---|
| Median home value | $130,400 | $238,600 | $332,700 |
| Median property tax paid per year | $1,770 | $3,549 | $3,119 |
| Property tax as a share of value | 1.36% | 1.49% | 0.94% |
| Median household income | $70,313 | $76,475 | $80,734 |
| Homes lived in by their owners | 78% | 67% | 65% |
| Owner homes with a mortgage | 52% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,168 | $1,736 | $1,963 |
| Those costs as a share of the owners' income | 16.3% | 19.5% | 21.0% |
| Median rent | $830 | $1,072 | $1,413 |
| Rent as a share of renters' income | 19.2% | 27.9% | 30.6% |
| Median year homes were built | 1942 | 1975 | 1980 |
| Vacant homes | 8.5% | 7.6% | 10.1% |
| Population | 717 | 1,978,707 | 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 $130,400 with 20% down costs about $904 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,121, 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 $38,738 for the 20%-down payment. That payment is 15% of the median Sterling household income of $70,313; at that income and 20% down, the 28% guideline points to a home of about $237,000.
The median rent here is $830 a month, so owning the median home costs about $74 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $26,080 |
|---|---|
| Loan amount | $104,320 |
| Principal and interest | $702 |
| Property taxes (1.36% a year) | $148 |
| Homeowners insurance (our estimate, 0.5% a year) | $54 |
| PMI | $0 |
| Total per month | $904 |
Change the numbers in the calculator
| Down payment | $4,564 |
|---|---|
| Loan amount | $128,038 |
| Principal and interest | $861 |
| Property taxes (1.36% a year) | $148 |
| Homeowners insurance (our estimate, 0.5% a year) | $54 |
| FHA mortgage insurance | $58 |
| Total per month | $1,121 |
Change the numbers in the calculator
Questions about home buying in Sterling
What is the median home value in Sterling?
About $130,400 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 $1,770 a year, which is about 1.36% 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 $904 a month. Keeping that under 28% of gross income takes about $38,738 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