Niles, OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Niles Neighborhoods Since 2000




Niles, OH Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Niles Housing Market Information

With a population of 18,651, 8,236 total housing units (homes and apartments), and a median house value of $83,654, house prices in Niles are some of the most affordable in Ohio as well as the nation.

Single-family detached homes are the single most common housing type in Niles, accounting for 65.86% of the city's housing units. Other types of housing that are prevalent in Niles include large apartment complexes or high rise apartments ( 19.09%), duplexes, homes converted to apartments or other small apartment buildings ( 11.73%), and a few row houses and other attached homes ( 2.22%).

The most prevalent building size and type in Niles are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 56.29% owning and 43.71% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Niles's housing was primarily built during this period, from the '40s through the '60s. A full 38.66% of the city's housing hails from this era. Other housing ages represented in Niles include homes built between 1970-1999 ( 31.50%) and housing constructed before 1939 ( 27.40%). There's also some housing in Niles built between 2000 and later ( 2.44%).

Niles Home Appreciation Rates

Niles's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Niles during the period has been just -0.94%, which is lower than 70% of US communities.

Appreciation rates are so strong in Niles that despite a nationwide downturn in the housing market, Niles real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Niles appreciation rates continue to be some of the highest in America, at 9.16%, which is higher than appreciation rates in 91.26% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Niles. Niles appreciation rates in the latest quarter were at 2.15%, which equates to an annual appreciation rate of 8.89%.

Importantly, this makes Niles one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Ohio, our data show that Niles's latest annual appreciation rate is higher than 90% of the other cities and towns in Ohio.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Niles differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Niles - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Niles real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$83,654

Niles, OH HOME PRICES

Value Range
> $1,129,000 0.0
$847,001 - $1,129,000 0.1
$564,001 - $847,000 0.3
$452,001 - $564,000 0.3
$339,001 - $452,000 1.1
$226,001 - $339,000 4.1
$113,001 - $226,000 20.7
$56,001 - $113,000 53.3
$0 - $56,000 20.2

Very Low for OH
Very Low for Nation

Value Relative to Nation Value Relative to State
88.1518809328489 90.2887139107612

Number Of Homes And Apartments:
8,236

Niles Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OH*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
-4.11% -0.24% 2 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$785 / per month

Homeownership Rate

Homeownership
Owners 56.29
Renters 43.71
Vacant 8.94

Housing Market Details

 

Age of Homes

AGE OF Niles HOMES
2000 or Newer 2.4
1970 - 1999 31.5
1940 - 1969 38.7
1939 or Older 27.4

Types of Homes

TYPE OF Niles HOMES
Single-Family 65.9
Townhomes 2.2
Small Apt. Buildings 11.7
Apt. Complexes 19.1
Mobile Homes 1.0
Other 0.1

Home Size

SIZE OF Niles HOMES
No Bedroom 1.87
1 Bedroom 11.11
2 Bedrooms 34.02
3 Bedrooms 40.97
4 Bedrooms 9.38
5 or more bedrooms 2.65