Average Rent in Niles, MI↑ Rents rising 8.2% YoY🔺 13th priciest in MI

Niles, MI has rental prices ranging from $790/month to $1,527/month in 2025, depending on unit size. The typical 1-bedroom apartment rents for $878/month — 37% below the national average of $1,400/month. With a median household income of $63,152/year, spending $878/month on a 1-bedroom represents 17% of gross income — within the recommended 30% threshold.

How Niles Compares

With an average 2-bedroom rent of $1,152/month, Niles ranks #13 most expensive of the 80 cities tracked in Michigan — pricier than 79% of all US cities in our data.

The Niles Rental Market

The Niles, MI area has a population of about 153,411 and 27% of households renting rather than owning. That renter share runs below the US average of ~34%, a more homeowner-heavy market where rental inventory can be limited.

Rent Trends

2-bedroom rents in Niles, MI have risen by $87/month (8.2%) over the past year, from $1,065 to $1,152. This rate of increase is significant and reflects strong rental demand and limited housing supply in the local market.

Affordability

To afford a 1-bedroom apartment in Niles, MI without exceeding the 30% housing cost guideline, a renter needs an annual income of approximately $35,120. The local median household income of $63,152 exceeds that threshold by $28,032, making Niles relatively accessible compared to local wages.

Rent vs. Buy

The median home value in Niles, MI is $213,269, giving a price-to-rent ratio of 15.4. The break-even point between renting and buying is roughly 15 years — renting offers more flexibility for shorter stays, while buying makes more sense for long-term residents.

Is Niles, MI Affordable?

Income needed to rent or buy, price history, and how this city compares to nearby metros.

Rent or Buy in Niles?

Break-even analysis and mortgage estimates based on local market data.

Living in Niles

Cost of living, job market, crime rates, and moving cost estimates.