The typical owner-occupied home in Niles is worth about $358,700, 36% above the Illinois median of $263,300 and 8% above the national median of $332,700. Owners pay a median $6,118 a year in property taxes, about 1.71% of their home's value, lower than the Illinois rate of 2.01%. The median household earns $75,274 a year, so the median home costs 4.8 times the median income (3.2 times for Illinois). 75% of occupied homes here are lived in by their owners, and 52% of those owners still have a mortgage.
Niles at a glance
| Niles | Illinois | U.S. | |
|---|---|---|---|
| Median home value | $358,700 | $263,300 | $332,700 |
| Median property tax paid per year | $6,118 | $5,298 | $3,119 |
| Property tax as a share of value | 1.71% | 2.01% | 0.94% |
| Median household income | $75,274 | $83,390 | $80,734 |
| Homes lived in by their owners | 75% | 67% | 65% |
| Owner homes with a mortgage | 52% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $2,159 | $1,987 | $1,963 |
| Those costs as a share of the owners' income | 24.0% | 20.6% | 21.0% |
| Median rent | $1,336 | $1,274 | $1,413 |
| Rent as a share of renters' income | 29.1% | 29.1% | 30.6% |
| Median year homes were built | 1965 | 1971 | 1980 |
| Vacant homes | 5.7% | 7.7% | 10.1% |
| Population | 30,064 | 12,694,798 | 334,922,499 |
What a typical home costs per month in Niles
At this week's average 30-year rate of 7.11%, buying the median Niles home of $358,700 with 20% down costs about $2,591 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,189, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $111,043 for the 20%-down payment. That payment is 41% of the median Niles household income of $75,274; at that income and 20% down, the 28% guideline points to a home of about $243,000.
The median rent here is $1,336 a month, so owning the median home costs about $1,255 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $71,740 |
|---|---|
| Loan amount | $286,960 |
| Principal and interest | $1,930 |
| Property taxes (1.71% a year) | $511 |
| Homeowners insurance (our estimate, 0.5% a year) | $149 |
| PMI | $0 |
| Total per month | $2,591 |
Change the numbers in the calculator
| Down payment | $12,554 |
|---|---|
| Loan amount | $352,203 |
| Principal and interest | $2,369 |
| Property taxes (1.71% a year) | $511 |
| Homeowners insurance (our estimate, 0.5% a year) | $149 |
| FHA mortgage insurance | $159 |
| Total per month | $3,189 |
Change the numbers in the calculator
Questions about home buying in Niles
What is the median home value in Niles?
About $358,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Niles?
Homeowners pay a median $6,118 a year, which is about 1.71% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Niles?
For the median home with 20% down at 7.11%, the payment is about $2,591 a month. Keeping that under 28% of gross income takes about $111,043 a year.
More about Niles
- Mortgage Refinance in Niles
- Debt Relief in Niles
- Home Equity Loans in Niles
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data