Department of Numbers

Niles Michigan Residential Rent and Rental Statistics

The median monthly gross residential rent in Niles, MI (the Niles-Benton Harbor metro area) was $688 in 2015 according to the Census ACS survey.1 Average gross rent in Niles was $707 in 2015. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2016 Niles median and average rent data will be released in September of 2017.

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.

Show dollars as: Nominal Real

Real Gross Rent in Niles Michigan (2015 dollars)2

2015 1 Year Change 3 Year Change
US Median Gross Rent $959 +3.12% +8.24%
Michigan Median Gross Rent $803 +2.42% +7.07%
Niles, MI Median Gross Rent $688 +1.33% +4.88%

Niles, MI Real Gross Rent Trends

At $688, real median gross rent in Niles was at its highest level in 2015 since the series began in 2005. At $707, real average gross rent in Niles was at its highest level in 2015 since the series began in 2005.

Real Gross Rent in Niles: Niles MI Median, Niles MI Average, Michigan Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Niles

Date US
Median
Michigan
Median
Niles, MI
Median
Niles, MI
Average
2015 $959 $803 $688 $707
2014 $930 $784 $679 $652
2013 $898 $762 $648 $647
2012 $886 $750 $656 $622
2011 $887 $752 $656 $635
2010 $901 $769 $617 $630
2009 $905 $769 $620 $597
2008 $920 $788 $663 $656
2007 $874 $756 $610 $617
2006 $883 $781 $655 $623
2005 $858 $772 $599 $589

Niles Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2015 the rental vacancy rate for Niles Michigan was 5.78% according to Census ACS data.

Rental Vacancy Rate in Niles Michigan

2015 1 Year Change 3 Year Change
US 5.85% -0.47% -0.92%
Michigan 5.19% -0.69% -1.54%
Niles, MI 5.78% -2.67% -6.38%

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 7.00% to 5.78%. Data records for this series originated in 2005.

Rental Vacancy Rate: Niles MI, Michigan, US

Rental vacancy rate in Michigan

Historical Rental Vacancy Rate data for Niles

Date US Michigan Niles, MI
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%
2008 7.86% 9.73% 10.01%
2007 7.87% 9.66% 7.77%
2006 7.70% 10.42% 7.70%
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 17.70% in 2015 according to the ACS.

Niles Michigan Median Annual Rent as a Fraction of Median Household Income

2015 1 Year Change 3 Year Change
US 20.63% -0.26% -0.02%
Michigan 18.86% -0.11% -0.29%
Niles, MI 17.70% -0.89% -0.33%

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 1.23% to 17.70%.

Fraction of Income towards Rent: Niles MI, Michigan, US

Percent of median household income going towards median monthly gross rent in Niles Michigan

Historical Data for Annual Rent as a Fraction of Income in Niles Michigan

Date US Michigan Niles, MI
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%
2008 19.00% 17.44% 16.77%
2007 18.66% 17.09% 15.71%
2006 18.90% 17.17% 16.22%
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 2015 31.02% of households were renters according to Census ACS data.

Niles Fraction of Renters by Household Units

2015 1 Year Change 3 Year Change
US 36.97% +0.07% +0.88%
Michigan 29.58% -0.18% +0.64%
Niles, MI 31.02% -0.67% +3.22%

Trends in the Niles, MI Renter Fraction

The Niles household renter fraction peaked in in 2014 at 31.69% and is now 0.67% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Niles MI, Michigan, US

Fraction of renters in Niles

History of Niles Renter Fraction

Date US Michigan Niles, MI
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%
2008 33.36% 26.02% 27.40%
2007 32.80% 25.17% 24.79%
2006 32.73% 24.83% 28.41%
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.