Niles Michigan Residential Rent and Rental Statistics
The median monthly gross residential rent in Niles, MI (the Niles-Benton Harbor metro area) was $775 in 2019 according to the Census ACS survey.1 Average gross rent in Niles was $737 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Niles median and average rent data will be released in September of 2021.
Data is also available below for Niles rental vacancy rates, Niles rent as a percent of median income and the fraction of renters in Niles.
Real Gross Rent in Niles Michigan (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Michigan Median Gross Rent | $888 | +1.25% | +3.62% |
| Niles, MI Median Gross Rent | $775 | +11.03% | +6.90% |
Niles, MI Real Gross Rent Trends
At $775, real median gross rent in Niles was at its highest level in 2019 since the series began in 2005. Average gross rent for Niles peaked in real terms in 2015 at $750 and is now $13 (1.73%) lower.
Real Gross Rent in Niles: Niles MI Median, Niles MI Average, Michigan Median, US Median
Real Gross Rent History for Niles
| Date | US Median |
Michigan Median |
Niles, MI Median |
Niles, MI Average |
|---|---|---|---|---|
| 2019 | $1,097 | $888 | $775 | $737 |
| 2018 | $1,077 | $877 | $698 | $705 |
| 2017 | $1,043 | $861 | $773 | $706 |
| 2016 | $1,027 | $857 | $725 | $743 |
| 2015 | $1,017 | $852 | $730 | $750 |
| 2014 | $986 | $832 | $720 | $692 |
| 2013 | $953 | $809 | $688 | $687 |
| 2012 | $940 | $796 | $696 | $660 |
| 2011 | $941 | $798 | $696 | $674 |
| 2010 | $955 | $816 | $655 | $668 |
| 2009 | $960 | $816 | $658 | $634 |
| 2007 | $927 | $802 | $647 | $654 |
| 2005 | $910 | $819 | $635 | $625 |
Niles Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for Niles Michigan was 7.21% according to Census ACS data.
Rental Vacancy Rate in Niles Michigan
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Michigan | 5.56% | +0.74% | +0.15% |
| Niles, MI | 7.21% | +2.47% | +4.42% |
Trends in Niles, MI Rental Vacancy Rate
The rental vacancy rate in Niles peaked in 2011 at 12.78%. Since then it has fallen by 5.57% to 7.21%. Data records for this series originated in 2005. From a 2016 post peak low of 2.79%, the rental vacancy rate has increased by 4.42%.
Rental Vacancy Rate: Niles MI, Michigan, US
Historical Rental Vacancy Rate data for Niles
| Date | US | Michigan | Niles, MI |
|---|---|---|---|
| 2019 | 5.97% | 5.56% | 7.21% |
| 2018 | 6.15% | 4.82% | 4.74% |
| 2017 | 6.18% | 4.87% | 3.53% |
| 2016 | 5.89% | 5.41% | 2.79% |
| 2015 | 5.85% | 5.19% | 5.78% |
| 2014 | 6.32% | 5.88% | 8.45% |
| 2013 | 6.49% | 6.04% | 8.72% |
| 2012 | 6.77% | 6.73% | 12.16% |
| 2011 | 7.40% | 7.72% | 12.78% |
| 2010 | 8.17% | 9.60% | 11.40% |
| 2009 | 8.43% | 9.48% | 7.65% |
| 2007 | 7.87% | 9.66% | 7.77% |
| 2005 | 7.74% | 10.09% | 12.11% |
Rent as a Fraction of Income
Using median household income data for Niles, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Niles, median monthly gross rent as a fraction of median household income was 18.54% in 2019 according to the ACS.
Niles Michigan Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Michigan | 17.88% | -0.34% | -0.82% |
| Niles, MI | 18.54% | +2.48% | +0.91% |
Trends in Niles, MI Rent as a Fraction of Income
The fraction of median Niles household income required to pay median monthly gross rent peaked in 2011 (relative to the 2005 series origin) at 18.93%. Since then it has fallen by 0.38% to 18.54%.
Fraction of Income towards Rent: Niles MI, Michigan, US
Historical Data for Annual Rent as a Fraction of Income in Niles Michigan
| Date | US | Michigan | Niles, MI |
|---|---|---|---|
| 2019 | 20.03% | 17.88% | 18.54% |
| 2018 | 20.50% | 18.22% | 16.06% |
| 2017 | 20.13% | 18.25% | 18.51% |
| 2016 | 20.43% | 18.70% | 17.64% |
| 2015 | 20.63% | 18.86% | 17.70% |
| 2014 | 20.89% | 18.97% | 18.59% |
| 2013 | 20.78% | 19.09% | 17.51% |
| 2012 | 20.65% | 19.16% | 18.03% |
| 2011 | 20.70% | 19.29% | 18.93% |
| 2010 | 20.50% | 19.29% | 17.44% |
| 2009 | 20.12% | 18.99% | 17.53% |
| 2007 | 18.66% | 17.09% | 15.71% |
| 2005 | 18.89% | 17.07% | 15.46% |
Renter Fraction in Niles Michigan
You can calculate the renter fraction in Niles in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Niles as a fraction of total Niles households. In 2019 26.06% of households were renters according to Census ACS data.
Niles Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Michigan | 28.43% | -0.38% | -1.25% |
| Niles, MI | 26.06% | -1.47% | -4.47% |
Trends in the Niles, MI Renter Fraction
The Niles household renter fraction peaked in in 2014 at 31.69% and is now 5.63% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Niles MI, Michigan, US
History of Niles Renter Fraction
| Date | US | Michigan | Niles, MI |
|---|---|---|---|
| 2019 | 35.89% | 28.43% | 26.06% |
| 2018 | 36.05% | 28.81% | 27.53% |
| 2017 | 36.13% | 28.67% | 30.88% |
| 2016 | 36.88% | 29.68% | 30.53% |
| 2015 | 36.97% | 29.58% | 31.02% |
| 2014 | 36.90% | 29.76% | 31.69% |
| 2013 | 36.50% | 29.45% | 29.70% |
| 2012 | 36.09% | 28.94% | 27.80% |
| 2011 | 35.42% | 28.26% | 26.04% |
| 2010 | 34.65% | 27.25% | 26.29% |
| 2009 | 34.13% | 26.81% | 29.35% |
| 2007 | 32.80% | 25.17% | 24.79% |
| 2005 | 33.10% | 25.33% | 28.16% |
1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability. ↩
2. Real dollars are calculated using the CPI-U less shelter series. ↩
3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied. ↩
