Niles, Michigan Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Niles, Michigan rental market.
Niles, Michigan
Average Apartment Rent
$949
Y-o-Y Change in Average
Apartment Rent
3%
As of May 2026
Compared to a year ago, Niles, Michigan apartments have recorded a 3% rent increase.
Niles, Michigan Average apartment rent trend
Niles, Michigan Average Apartment Rent
Niles, Michigan Apartment rent ranges
At 73.84%, apartments priced Under $1,000 represent the bulk of Niles, Michigan rentals, while condos priced $1,000 - $1,500 hold the lowest share of the market – 26.16%.
Niles, Michigan Housing tenure**
Renters take up 38% of Niles, Michigan real estate, occupying a total of 1,939 units, while homeowners live in 3,150 properties.
Median number of rooms of renter-occupied housing units**
3.8
Renter median household income**
$34,384
Average household size of renter-occupied housing units**
2.03
Rental vacancy rate**
4.4%
Niles, Michigan Renter-occupied housing units by no. of bedrooms**
There are 697 rentals in Niles, Michigan with 1 bed making up the highest share of the market, at 36%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 17 units. Overall, the median number of rooms in Niles, Michigan homes for rent is 3.8.
Niles, Michigan Renter-occupied units by age of householder**
Most condos for rent in Niles, Michigan are occupied by residents in the 25 - 34 years age group (21%), followed by those in the 35 - 44 years age group (17%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 5%.
Niles, Michigan Renter-occupied housing units by family type**
Niles, Michigan Renter-occupied housing units by the presence of own children**
A total of 762 apartments for rent in Niles, Michigan, or 39% of all rentals are family households. Additionally, 27% of rental homes include children under the age of 18 – that’s 516 units. All in all, the median size of a renter-occupied household in Niles, Michigan is 2.03.
Niles, Michigan Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 16% of the rental market. In contrast, residents with less than a high school degree reside in 11% of the homes for rent in Niles, Michigan.
Niles, Michigan Renter-occupied units by year structure built**
The highest share of Niles, Michigan apartment rentals, namely 17% or 334 units, were Built 1970 - 1979, followed by those Built 1939 or earlier (16%, 303 units), and the ones Built 1980 - 1989 (15%, 294 units).
Niles, Michigan Renter-occupied units by year householder moved in**
Median year renter moved into unit 2017
Most Niles, Michigan renters (48%) moved in 2010 to 2017, while only 1% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Niles, Michigan condos for rent is 2017.
Niles, Michigan Renter-occupied housing units by vehicles available**
When it comes to transportation options, 52% of Niles, Michigan renters have 1 vehicle available per household, 24% of them have 2 vehicles available, and 21% have No vehicle available.
Niles, Michigan Means of transportation to work of householders living in renter-occupied housing units**
Niles, Michigan Geographical mobility in the past year for householders living in renter-occupied housing units**
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Niles, Michigan apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
