Niles, MI housing market
Homes typically sell in 44 days, a little above asking.
Home values, sales, trends and how Niles compares with the towns next door — updated as new data is published.
Niles at a glance
A seller's market
Supply is tight — about 2.5 months of homes for sale at the current pace. Buyers should expect competition on well-priced homes.
Home prices up 55% in 5 years
The federal house price index for the ZIP code around Niles rose 55% over the past 5 years, about the same as across Michigan. Last year prices rose 1.6%. Carrying the Census median home value forward with that index puts the typical Niles home at roughly $228,000 today.
Show as a table
| Year | Change that year | Since 2000 | Michigan since 2000 |
|---|---|---|---|
| 2025 | +1.6% | +117% | +97% |
| 2024 | +7.4% | +114% | +88% |
| 2023 | +7.9% | +99% | +76% |
| 2022 | +17% | +84% | +64% |
| 2021 | +12% | +57% | +45% |
| 2020 | +4.6% | +40% | +30% |
| 2019 | +4.4% | +34% | +26% |
| 2018 | +5.4% | +29% | +20% |
| 2017 | +8.1% | +22% | +12% |
| 2016 | +1.5% | +13% | +5.3% |
| 2015 | +2.3% | +11% | 0% |
| 2014 | +5.1% | +8.7% | −4.7% |
| 2013 | −1.3% | +3.4% | −12% |
| 2012 | −1.1% | +4.8% | −16% |
| 2011 | −1.4% | +6% | −16% |
| 2010 | −7.7% | +7.5% | −12% |
| 2009 | −4.3% | +16% | −5% |
| 2008 | −0.6% | +22% | +3.5% |
| 2007 | −0.6% | +22% | +11% |
| 2006 | +4.1% | +23% | +16% |
| 2005 | +3.9% | +18% | +18% |
| 2004 | +3.8% | +14% | +14% |
| 2003 | +1.1% | +9.6% | +10% |
| 2002 | +3.6% | +8.4% | +8.3% |
| 2001 | +4.7% | +4.7% | +5% |
| 2000 | — | — | — |
How Niles ranks on rising home prices →
Federal Housing Finance Agency House Price Index (annual, developmental) for ZIP code 49120, weighted by land area. It tracks repeat sales and appraisals of the same homes, so it shows how prices changed, not what homes cost. The estimated value scales the Census (ACS 2020-2024) median home value by that change.
3 new homes permitted in 2025
Builders were permitted 3 new homes in Niles in 2025, all single-family houses. That's 0.3 per 1,000 residents, slower than across Michigan (2.3). Over the past 10 years, Niles has permitted 123 homes in all.
Homes vs. people, 2010–2020
Between the 2010 and 2020 censuses, Niles gained 388 residents while 71 new homes were permitted: about 5.5 new residents per new home. Population grew faster than building, so existing homes filled up: a sign of tight supply. Across Michigan: 1.2 new residents per new home.
How Niles ranks on housing keeping up with growth →
Residents: U.S. Census Bureau, 2010 and 2020 censuses. New homes: permits issued 2010–2019.
Show as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 1 | 1 | 0 | $307,000 |
| 2025 | 3 | 3 | 0 | $921,000 |
| 2024 | 3 | 3 | 0 | $921,000 |
| 2023 | 50 | 2 | 48 | $8.9 million |
| 2022 | 2 | 2 | 0 | $625,000 |
| 2021 | 1 | 1 | 0 | $65,000 |
| 2020 | 2 | 2 | 0 | $490,000 |
| 2019 | 2 | 2 | 0 | $475,000 |
| 2018 | 55 | 2 | 53 | $6.9 million |
| 2017 | 3 | 3 | 0 | $1 million |
| 2016 | 2 | 2 | 0 | $648,000 |
| 2015 | 2 | 2 | 0 | $375,000 |
| 2014 | 2 | 2 | 0 | $276,000 |
| 2013 | 2 | 2 | 0 | $266,000 |
| 2012 | 2 | 2 | 0 | $205,000 |
| 2011 | 1 | 1 | 0 | $65,000 |
| 2010 | 0 | 0 | 0 | — |
| 2009 | 1 | 1 | 0 | $65,000 |
| 2008 | 1 | 1 | 0 | $65,000 |
| 2007 | 2 | 2 | 0 | $290,000 |
| 2006 | 1 | 1 | 0 | $238,000 |
| 2005 | 6 | 6 | 0 | $711,000 |
| 2004 | 5 | 5 | 0 | $572,000 |
| 2003 | 6 | 6 | 0 | $642,000 |
| 2002 | 9 | 9 | 0 | $1.3 million |
| 2001 | 5 | 5 | 0 | $532,000 |
| 2000 | 9 | 9 | 0 | $1.4 million |
Niles's permit office didn't report to the Census in 2025, so the 2025 figures are Census estimates.
How Niles ranks on new homes being built →
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey, through August 2026.
Niles and its neighbors
| Town | Typical value | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|---|
| Niles | — | +1.6%† | $1,130 | 3 | $51,376 |
| Niles | $216K | +7.1% | $1,120 | 15 | $63,459 |
| Howard | — | +2.5%† | $1,110 | 6 | $79,226 |
† FHFA price index change, where Zillow has no home value for the town.
2.6 years of income
The typical Niles home costs about 2.6 years of the town's median household income, less than across Michigan (3.7 years).
How Niles ranks on affordability →
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
A two-bedroom rents for about $1,130
HUD's Fair Market Rent for a two-bedroom in Niles is $1,130 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Niles pay a median of $855, so moving in tends to cost more than staying put. A two-bedroom takes about 26% of the town's median household income.
Studio $800 · 4 bedrooms $1,590
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (49120; Niles, MI MSA), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Home values: Zillow Home Value Index (ZHVI), Zillow Research. Sales, days on market and supply: Redfin Data Center, May 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Price trend: Federal Housing Finance Agency House Price Index. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.