Niles, Michigan Real Estate & Housing Market

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Niles Housing Information

Index	Niles	Michigan	National
Median home price	$76,300	$127,800	$184,700
Median rent asked	$613	$799	$949
Avg. people per household	2.4	2.5	2.6
Owner occupied households	54.0%	70.8%	63.6%
Renter occupied households	46.0%	29.2%	36.4%

Above, you will see a summary of real estate in Niles, MI. On average, homes in Niles, MI cost $76,300, a value that is 40% lower than the average in Michigan. In general terms, this results in Niles, MI real estate being more affordable than Michigan real estate. On average, people who rent houses in Niles, MI pay $613; this value is 23% lower than the average amount renters pay in Michigan. 54.0% of Niles, MI residents own their own homes and, on average, each of the homes has 2.4 occupants. Niles, MI real estate features a range of homes, which include everthing from large houses to small condos to stacked townhomes. Accessing real estate listings and homes that are up for sale in Niles, MI is easy because in our search area shown above, we categorize real estate and homes based on location, price, and the number of bedrooms and bathrooms.

Niles Home Affordability

It’s advisable to look at home affordability when trying to find the ideal place to find real estate in Niles, MI. To estimate home affordability, one method is to use the ratio of home price to median household income. The Niles, MI’s median home price stands at $76,300 while $30,963 is the value of the average household income. The resulting home price to income ratio, which is 2.5x, differs from the Michigan average as the ratio is 2% lower than the state’s average. The average home price divided by the median home income results in the home affordability ratio. Considering the comparison between the home price and home income, homes in Niles, MI are considered less expensive if the ratio of home price to income is lower. Besides the home price to median household income ratio, other considerable factors do apply in determining home affordability. Using the home affordability calculator displayed below can help determine the exact price that suits any budget when searching for real estate in Niles, MI.

Nearby cities with low home prices

City, State	Population	Home Price	National Avg.
Notre Dame, IN	6,724	$0	100%
Cassopolis, MI	1,726	$67,400	64%
Dowagiac, MI	5,863	$67,600	63%
South Bend, IN	101,037	$80,500	56%
Roseland, IN	489	$81,000	56%
Niles, MI	11,379	$76,300	59%

Cities with similar population

City, State	Population	Home Price	National Avg.
Lewisburg, TN	11,376	$92,200	50%
Home Gardens, CA	11,383	$249,900	35%
Troy, MO	11,374	$136,900	26%
Clute, TX	11,370	$88,700	52%
Woodmere, LA	11,391	$129,700	30%
Niles, MI	11,379	$76,300	59%

Source: The Niles, MI housing data displayed above is derived from the 2016 United States Census Bureau American Community Survey (ACS).