In recent years, Staryj Oskol has experienced rapid population growth from 170,000 to 220,000 inhabitants. In contrast to other demographic trends in Russia, around 30 percent of the current population is made up of young people.

Although the Russian high-rise buildings from the Soviet era still dominate the cityscape, more and more western-style high-rises have been built in recent years and single-family housing estates are growing in the city's suburbs. The "new Russians" in particular are using these to demonstrate their prosperity.

Staryj Oskol is growing rapidly and the wealth that iron ore brought to the city in the 1970s can be seen everywhere. A new Russian Orthodox church, a cinema, a completely new promenade along the River Oskol, numerous discotheques and sports grounds, lushly planted flowerbeds on every street traffic circle and hanging baskets on the lampposts are all evidence of this. An ice rink with adjoining hotel and a large sports hall (200-meter circular track) have also recently enriched the cityscape. An extensive and modern leisure and recreation park has been created at the gates of Staryj Oskol.

In 1987, Staryj Oskol officially became a twin town of the city of Salzgitter with the signing of the twinning agreement. There has been a school partnership between the Fredenberg Vocational School (BBS) and the Staryj Oskol Secondary School No. 22 since 1994, with a lively exchange of pupils and teachers.