Quick facts: Sterling, IL

Quick Facts

102.4
Cost of Living
above US average
14,566
Population
19.02
Crime Rate per 1000
below US average
$49,007
Median Income
below US average
$150,000
Median House Price
above US average
$1233.33
Average Rent
below US average
12%
Poverty Rate
above US average
4.2%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $49,007.

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Income Needed to Buy

βœ“ Affordable
$47k/year
Based on $150,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($49,007) exceeds requirement
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Income Needed to Rent

⚠ Stretch
$53k/year
Based on $1233.33/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $53k vs median $49,007
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Sterling, IL

Sterling, Illinois, located in Whiteside County, is a small city with a rich history and a vibrant community spirit. Situated along the banks of the Rock River, it has a population of approximately 15,000 residents. Sterling is known for its picturesque parks and outdoor recreational opportunities, with places like the popular Lake Sterling offering fishing and boating activities. The city has a strong industrial heritage, which is evident in its historical architecture and various manufacturing businesses. It serves as a regional hub for commerce and industry and is home to the well-regarded Sterling Public Schools. The community hosts annual events, including the Sterling Live Healthy Festival, fostering a sense of local pride. Sterling enjoys a moderate climate with four distinct seasons, appealing to outdoor enthusiasts year-round. The city’s proximity to Interstate 88 allows for easy access to larger urban centers like Rockford and Chicago, making it a convenient location for commuters. With a blend of small-town charm and access to modern amenities, Sterling is an inviting place to live, work, and explore.

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