Niles, MI—49120
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Niles, MI
As of Oct '25, the median home price in Niles, MI is $196,000, with a year-over-year change of -0.4%. This indicates that home prices in Niles, MI are flat. According to Zillow, the 1-year price projection is 1.7%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $196,000 | -0.4% |
| Single Family | $196,000 | 0.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $133,000 | -2.2% |
2 Bed | $172,000 | 1.8% |
3 Bed | $214,000 | 1.9% |
4 Bed | $280,000 | 1.4% |
| 5 Bed | $406,000 | 0.2% |
% of Housing Stock
Rental Trends — Niles, MI
As of July '25, Rentcast reports the average rent in Niles, MI is $939, with a year-over-year rent change of -21.8%. Per bedroom, the median rent as of July '25 in Niles, MI is 1-bedrooms: $866, 2-bedrooms: $1,100, 3-bedrooms: $750, 4-bedrooms: $1,750. The most common rental property sizes in Niles, MI are 2-bedroom and 1-bedroom, accounting for 42.0% and 25.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $900 | $939 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $895 | $866 |
| 2 Bed Rent | $1,000 | $1,100 |
| 3 Bed Rent | $750 | $750 |
| 4 Bed Rent | $1,750 | $1,750 |
% of Rental Stock
Property Listings — Niles, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Niles, MI is 39. This is a increase of 8.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 34.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $261,000 | 19.0% |
Listing Count | 131 | -7.0% |
| Listings as % of Homes | 0.6% | -7.0% |
Days on Market | 39 | 8.0% |
Demographics — Niles, MI
As of the latest ACS Survey released in 2023, Niles, MI has a population of 36,700, which has remained stable by 0.4% over the past 5 years. Niles, MI is a moderately popular place for families, as children make up 22.2% of the population. The area has a poorly educated workforce, with 20.5% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 36,700 | 0.4% |
% Under 18 | 22.2% | -1.8% |
% Seniors | 21.5% | 17.5% |
% WFH | 5.8% | 61.1% |
% w/ College Degree | 20.5% | 7.3% |
As of the latest ACS Survey released in 2023, Niles, MI is a predominantly white area, with 84.0% of the population identifying as white. The white population has grown by 0.1% in the last 5 years. The second most common race or ethnicity in Niles, MI is black, making up 6.6% of the population. Foreign-born residents account for 2.6% of the population in Niles, MI, and this percentage has increased by 4.0% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 84.0% | 0.1% |
% Black | 6.6% | -5.7% |
% Hispanic | 4.2% | -14.3% |
% Asian | 0.7% | 0.0% |
% Foreign Born | 2.6% | 4.0% |
Mortgage and Risk — Niles, MI
According to HUD data as of 2023, there were 885 mortgage originations in Niles, MI, of which 81.0% of loans were conventional mortgages. The average loan-to-value was 61.0%, with 28.0% above 90% LTV (very high). This implies large mortgage risk in Niles, MI. Investor activity is low, as 1.0% of loans were by investors. 16.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 885 |
% Conventional Loans | 81.0% |
% Government Loans | 19.0% |
% Investor Loans | 1.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 16.0% |
Loan Activity
Rentals and Section 8 — Niles, MI
As of 2024, the percent of homes in Niles, MI under the Section 8 program is 10.4%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Niles, MI, because HUD payments exceed market rent, while 1-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 513 |
Total Units Section 8 | 334 |
% Rentals under Section 8 | 10.4% |
% Occupied Section 8 | 89.6% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$25 | $895 | $870 |
| 2 Bedroom | $90 | $1,000 | $1,090 |
| 3 Bedroom | $650 | $750 | $1,400 |
| 4 Bedroom | -$220 | $1,750 | $1,530 |
Affordability — Niles, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3 |
| Median Home Price | $196,000 |
| Median Household Income | $61,900 |