The housing market in Niles, IL is on a steady rise. The median value of homes in the area is at $313,500, which is lower than the US median value of $338,100. However, the 1 year house appreciation rate for Niles is higher than the national rate at 8.98%, compared to 8.27%. This indicates that investments in real estate in Niles have higher potential for returns than other areas across the country. With more and more people deciding to make Niles their home, it's becoming increasingly clear why this suburban city is such a popular destination.
The median home cost in Niles is $313,500. Home appreciation the last 10 years has been 64.7%. Home Appreciation in Niles is up 9.6%.
Average Age of Homes
- The median age of Niles real estate is 55 years old
The Rental Market in Niles
- Renters make up 22.6% of the Niles population
- 1.2% of houses and apartments in Niles, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.