Niles city, 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 city, Michigan rental market.
Niles city, Michigan
Average Apartment Rent
Y-o-Y Change in Apartment Rent
Compared to a year ago, Niles city, Michigan apartments have recorded a 0% rent increase.
Niles city, Michigan |Median apartment rent trend
Niles city, Michigan| Average apartment rent by city
Niles city, Michigan | Apartment rent ranges
At 61.8%, apartments priced $500 - $700 represent the bulk of Niles city, Michigan rentals, while condos priced under $500 hold the lowest share of the market – 12.11%.
Niles city, Michigan | Housing tenure
Renters take up 51% of Niles city, Michigan real estate, occupying a total of 2,395 units, while homeowners live in 2,275 properties.
Median number of rooms of renter-occupied housing units
Renter Median household income
Average household size of renter occupied-housing units
Rental vacancy rate
Niles city, Michigan | Renter-occupied housing units by no. of bedrooms
There are 891 rentals in Niles city, Michigan with 2 beds making up the highest share of the market, at 37%. Units with no bedrooms, on the other hand, hold the lowest percentage (3%), amounting to 63 units. Overall, the median number of rooms in Niles city, Michigan homes for rent is 4.1.
Niles city, Michigan |Renter-occupied units by age of householder
Most condos for rent in Niles city, Michigan are occupied by residents in the 35 - 44 years age group (21%), followed by those in the 25 - 34 years age group (18%). At the same time, people in the 55 - 59 years age group make up the lowest share of the local rental market – 3%.
Niles city, Michigan | Renter-occupied housing units by family type
Niles city, Michigan | Renter-occupied housing units by the presence of own children
A total of 1,159 apartments for rent in Niles city, Michigan, or 48% of all rentals are family households. Additionally, 35% of rental homes include children under the age of 18 – that’s 834 units. All in all, the median size of a renter-occupied household in Niles city, Michigan is 2.2.
Niles city, Michigan | Renter-occupied housing units by educational attainment
In terms of education, renters holding bachelor degrees or higher make up 7% of the rental market. In contrast, residents with less than a high school degree reside in 19% of the homes for rent in Niles city, Michigan.
Niles city, Michigan | Renter-occupied units by year structure built
The highest share of Niles city, Michigan apartment rentals, namely 23% or 546 units, were built 1939 or earlier, followed by those built 1970 - 1979 (17%, 419 units), and the ones built 1980 - 1989 (15%, 368 units).
Niles city, Michigan | Renter-occupied units by year householder moved in
Median year renter moved into unit2014
Most Niles city, Michigan renters (41%) moved in 2010 to 2014, while only 1% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Niles city, Michigan condos for rent is 2014.
Niles city, Michigan | Renter-occupied housing units by vehicles available
When it comes to transportation options, 58% of Niles city, Michigan renters have 1 vehicle available per household, 21% of them have no vehicle available, and 19% have 2 vehicles available.
Niles city, Michigan | Means of transportation to work of householders living in renter-occupied housing units
Niles city, Michigan |Geographical mobility in the past year for householders living in renter-occupies housing units
Niles city, Michigan | Average apartment rent by zip codes
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 city, 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.
Exceptions: Data sourced from U.S. Census Bureau; American Community Survey, 2018 American Community Survey 5-Year Estimates