Rent to own Homes in Sterling Heights, MI
Just sixty years ago, Sterling Heights (or Sterling Township, as it was known then) was little more than a place to grow rhubarb. In the decades since then the only thing that's been growing in this city is the population; Sterling Heights is now the fourth-largest city in Michigan. The former home of rapper Eminem, Sterling Heights is one of the safest cities in the country for its size.
Sterling Heights, MI is a great place for affordable rent-to-own homes! With a median household income of over $66,346 and a median rent of $1,051, the Sterling Heights, MI rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Sterling Heights, MI. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
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Rent to own Homes in Cities Near Sterling Heights, MI
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Neighborhoods in Sterling Heights, MI
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48311 rent to own homesBuying a Home in Sterling Heights, MI
Sterling Heights, MI is seeing rapid growth and Sterling Heights, MI's' housing market remains optimal with an average home price that is -9% below the 2023 national average. Sterling Heights, MI is part of Macomb county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2023 for county Macomb is 1.74% which is above the national average, which is 0.99%.
Median Home Price in Sterling Heights, MI
Median Rent in Sterling Heights, MI
Top Reasons to Live in Sterling Heights MI
Housing Statistics Sixty-nine percent of properties are owner occupied in Sterling Heights. Twenty-six percent of properties are rentals, and the remaining five percent are vacant. It's expected that the growing number of rent to own homes will only increase the percentage of owner occupied properties. The annual residential turnover rate is low, at just nine percent, suggesting that people living in Sterling Heights have a happy life. While the median sales price has been on the increase, reaching $129,000 from May-July 2013, the number of sales have actually dropped by a third from last year.
Local Events and Festivals Sterling Heights plays host to a number of music festivals that highlight a variety of musical genres. The Forever Festival takes place in September, which is open to people of all ages and features global dance acts. If electronic dance music isn't your cup of tea, you might be interested in the Stars and Stripes Festival, which takes place over the last weekend in June and has four stages with bands playing rock and pop. Away from the music there's also a BMX stunt show and even a petting zoo, making Stars and Stripes a true family event. Finally, there's Sterlingfest, which is held in Dodge Park during July or August and features a mix of carnival rides and live music.
Transportation and Commute Without a car, you'll be limited in Sterling Heights. There is practically no public transport system within the city, although SmartBus does operate two lines that run through the city into downtown Detroit. The lack of public-provided options means that only 0.5 percent of residents use mass transit to commute to work, while a massive 88 percent drive alone and just eight percent carpool. Meanwhile, commute time is just slightly above that of the national average at 28.9 minutes. The M-59 and M-53 are the major roads in the city, heading north and west respectively.
Local Shopping It's fair to say that when it comes to shopping you can do it all at one destination: The Lakeside Mall. This is the city's largest shopping center, and it has a number of national anchor stores supporting around 100 smaller retail lots. Pretty much everything you might need - from fashion and jewelry to housewares and technology - is available at the right price in this traditional shopping environment. Unfortunately, it's all fairly cookie-cutter fare. If you're looking for something a bit more unique to Sterling Heights, check out Countryside Craft Mall and Antiques at Van Dyke Ave and 18 Mile Rd. Here you'll find hundreds of specialty shops run by independent and local dealers selling furniture, art, pottery and more.
Local Restaurants Sterling Heights has a number of stellar restaurants. Red Hot and Blue is perfect if you're craving the big hearty flavors synonymous with Southern hospitality, while Grand Azteca offers simple but satisfying Mexican dishes. These are both on Van Dyke Ave, and while there are enough restaurants on this road to keep you full all year round, if you venture into other parts of the city you'll be rewarded with some of the area's finest offerings. Lebanese restaurants are abundant in Sterling Heights, with La Saj on Southcove Drive being considered among the best, while for pasta or pizza you could try the great value Antonio's Italian Cuisine on E 14 Mile Rd.