Niles, IL—60714
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Niles, IL
As of Oct '25, the median home price in Niles, IL is $386,000, with a year-over-year change of 6.1%. This indicates that home prices in Niles, IL are increasing. According to Zillow, the 1-year price projection is 1.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $386,000 | 6.1% |
| Single Family | $416,000 | 6.7% |
| Condos | $267,000 | 4.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $184,000 | 4.5% |
2 Bed | $323,000 | 6.6% |
3 Bed | $398,000 | 6.7% |
4 Bed | $514,000 | 5.8% |
| 5 Bed | $635,000 | 5.3% |
% of Housing Stock
Rental Trends — Niles, IL
As of July '25, Rentcast reports the average rent in Niles, IL is $2,210, with a year-over-year rent change of -4.7%. Per bedroom, the median rent as of July '25 in Niles, IL is studios: $1,500, 1-bedrooms: $1,670, 2-bedrooms: $2,100, 3-bedrooms: $2,840, 4-bedrooms: $1,600. The most common rental property sizes in Niles, IL are 1-bedroom and 2-bedroom, accounting for 39.7% and 34.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,000 | $2,210 |
| Studio Rent | $1,500 | $1,500 |
| 1 Bed Rent | $1,600 | $1,670 |
| 2 Bed Rent | $1,820 | $2,100 |
| 3 Bed Rent | $3,000 | $2,840 |
| 4 Bed Rent | $1,600 | $1,600 |
% of Rental Stock
Property Listings — Niles, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Niles, IL is 32. This is a increase of 1.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 17.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $340,000 | -11.0% |
Listing Count | 72 | 13.0% |
| Listings as % of Homes | 0.4% | 13.0% |
Days on Market | 32 | 1.0% |
Demographics — Niles, IL
As of the latest ACS Survey released in 2023, Niles, IL has a population of 30,500, which has increased by 2.4% over the past 5 years. Niles, IL is a moderately popular place for families, as children make up 17.8% of the population. The area has a moderately educated workforce, with 39.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 30,500 | 2.4% |
% Under 18 | 17.8% | 8.5% |
% Seniors | 26.1% | 1.6% |
% WFH | 9.8% | 292.0% |
% w/ College Degree | 39.1% | 16.7% |
As of the latest ACS Survey released in 2023, Niles, IL is a predominantly white area, with 61.4% of the population identifying as white. The white population has shrunk by 4.8% in the last 5 years. The second most common race or ethnicity in Niles, IL is asian, making up 20.3% of the population. Foreign-born residents account for 42.9% of the population in Niles, IL, and this percentage has increased by 2.4% 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 | 61.4% | -4.8% |
% Black | 2.4% | -25.0% |
% Hispanic | 13.9% | 24.1% |
% Asian | 20.3% | 8.6% |
% Foreign Born | 42.9% | 2.4% |
Mortgage and Risk — Niles, IL
According to HUD data as of 2023, there were 288 mortgage originations in Niles, IL, of which 92.0% of loans were conventional mortgages. The average loan-to-value was 66.0%, with 23.0% above 90% LTV (very high). This implies large mortgage risk in Niles, IL. Investor activity is low, as 3.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 288 |
% Conventional Loans | 92.0% |
% Government Loans | 8.0% |
% Investor Loans | 3.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Niles, IL
As of 2024, the percent of homes in Niles, IL under the Section 8 program is 8.0%. 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. 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Niles, IL, because HUD payments exceed market rent, while 1-bedroom and 2-bedroom and 3-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 214 |
Total Units Section 8 | 214 |
% Rentals under Section 8 | 8.0% |
% Occupied Section 8 | 93.3% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$190 | $1,600 | $1,410 |
| 2 Bedroom | -$230 | $1,820 | $1,590 |
| 3 Bedroom | -$960 | $3,000 | $2,040 |
| 4 Bedroom | $800 | $1,600 | $2,400 |
Affordability — Niles, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.1 |
| Median Home Price | $386,000 |
| Median Household Income | $78,900 |