Market Overview
Home Prices in Niles, MI
The median home value in Niles, MI is $216,700 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 6.2% compared to a year ago and down 0.2% from two years prior.
Compared to the U.S. national median of $410,000, homes in Niles are priced47% below average. Niles is part of the Niles, MI metro area.
Over the past five years, Niles home values have risen by approximately25.0%, reflecting strong long-term appreciation in this market.
Price History
Niles Home Price Trend
2020
$150,573
$151K
—
2021
$173,306
$173K
+15.1%
2022
$193,101
$193K
+11.4%
2023
$196,210
$196K
+1.6%
2024
$204,517
$205K
+4.2%
2025
$204,095
$204K
-0.2%
2026
$216,700
$217K
+6.2%
City Comparison
Niles vs. National Median
🏠 Niles
$216,700
National Median
$410,000
At $216,700, homes in Niles cost 47% below the national median of $410,000. This makes Niles a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Niles?
20% Down Payment
$43,340
on $216,700
Monthly P&I
$1,130/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,435/mo
incl. taxes & insurance
Income Needed
$57,400
gross annual (30% rule)
10% Down Option
$21,670
+ PMI applies
Loan Amount (20% dn)
$173,360
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Niles, MI?
The median home value in Niles is $216,700 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 6.2% year-over-year.
How much have home prices changed in Niles?
Over the past year, home values in Niles have increased by 6.2%. Over five years, prices have risen approximately 25.0%.
How much do I need to earn to buy a home in Niles?
To comfortably afford the median home price of $216,700 with a 20% down payment ($43,340) at today's rates (6.8%), you'd need a gross annual income of approximately $57,400. This assumes keeping total housing costs at or below 30% of gross income.
How does Niles compare to the national average home price?
The national median home value is approximately $410,000. At $216,700, homes in Niles are 47% below the national average.
What metro area is Niles part of?
Niles is part of the Niles, MI metropolitan area. Home prices and market conditions can vary across the broader metro region.