Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$281,191+7.0% YoY · prices are rising fast
Market right nowBalanced marketMore homes for sale than last year, 23% have cut their price
Income needed to buy, per year$60,956About 0.9× the local median income ($68,882): affordable for a typical household
Days on market57 daysSlower than a year ago: buyers have time to negotiate
Next 12 months+4.3%Zillow expects prices to rise strongly
The typical home in Niles, MI is worth $281,191, up 7.0% from a year ago. That is slightly above what local incomes have historically supported: fair value is about $260,498, so the area is 7.9% overvalued. It is a balanced market: homes take about 57 days to sell, listings are up 36% from a year ago, 23% of listings have had a price cut. Zillow expects prices to rise about 4.3% over the next year. A household needs about $60,956 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $68,882. Typical rent is $1,403 a month, or $1,910 for a house. In the latest IRS figures, 437 more people moved out than in.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$281,191
Change in 1 year
+7.0%
Overvalued %
+7.9%
Show 7 more
Fair home value
$260,498
Change in 5 years
+29.2%
Zillow forecast, next 12 months
+4.3%
Home value to income
4.1×
Monthly mortgage payment (20% down)
$1,524
Income needed to afford it
$60,956
Property tax rate
1.08%
Rent and investing
Typical rent
$1,403
Typical rent for houses
$1,910
Price-to-rent ratio
16.7×
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HUD Fair Market Rent, 2 bedrooms
$1,152
Gross rental yield
5.99%
Cap rate (estimate)
3.89%
Market activity
Listings vs a year ago
+36.0%
Days on market
57
Listings with a price cut
23.3%
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Homes for sale
601
Pending sales per 100 listings
41
Asking price per sq ft
$209
People and jobs
Median household income
$68,882
Population change (1 year)
+0.0%
Unemployment rate
6.2%
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Population
152,444
Income adjusted for cost of living
$74,548
Net moves in (IRS)
−437
Cost of living (US = 100)
92.4
Schools, risk and environment
School rating (1 to 10)
6.2
FEMA hazard risk score (0 to 100)
81.7
Unhealthy air days a year
4
Show 4 more
Flood risk score
86.0
Wildfire risk score
23.5
Walkability (1 to 20)
6.5
Road, rail and air noise
54 dB
Questions people ask
Is Niles, MI overvalued?
Home prices in Niles, MI are slightly above what local incomes have historically supported: fair value is about $260,498, so the area is 7.9% overvalued.
Is Niles, MI a buyer's or seller's market?
Niles, MI is a balanced market: homes take about 57 days to sell, listings are up 36% from a year ago, 23% of listings have had a price cut.
Are home prices going down in Niles, MI?
Home values in Niles, MI are up 7.0% over the last year. Zillow's forecast for the next 12 months is +4.3%.
How much do you need to earn to buy a home in Niles, MI?
A household needs about $60,956 a year to afford the typical home in Niles, MI at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $68,882.