151st most affordable of 199 in Metro Detroit
Cost of Living in Novi, MI
A typical home in Novi costs about $2,121 a month, 23.0% of the median household income of $110,723. That makes Novi the 46th most affordable of 56 places in Oakland County and 151st of 199 across Metro Detroit.
- Median rent a month
- $1,747
- Median home value
- $421,900
- Owner cost with a mortgage
- $2,495
- Of income on housing
- 23.0%
Novi against Oakland County and the metro
| Census median | Novi | Oakland County | Metro Detroit |
|---|---|---|---|
| Median rent (monthly) | $1,747 | $1,376 | $1,207 |
| Median home value | $421,900 | $343,600 | $249,700 |
| Owner cost with a mortgage (monthly) | $2,495 | $1,998 | $1,720 |
| Median household income (yearly) | $110,723 | $97,760 | $76,664 |
| Share of income on housing | 23.0% | 20.7% | 22.9% |
Ranked 46th most affordable of 56 in Oakland County. See all 56.
Cost of living near Novi
The towns around Novi, each with its own page.
- Northville Rent $1,623 · Home $465,400 7th most affordable in the metro
- Northville Township Rent $1,821 · Home $551,800 75th most affordable in the metro
- Farmington Hills Rent $1,551 · Home $354,500 111th most affordable in the metro
- West Bloomfield Rent $2,031 · Home $426,200 115th most affordable in the metro
- Wixom Rent $1,035 · Home $365,200 182nd most affordable in the metro
- Walled Lake Rent $1,419 · Home $224,200 172nd most affordable in the metro
- Commerce Rent $2,005 · Home $365,700 118th most affordable in the metro
- Lyon Township Rent $1,726 · Home $473,300 33rd most affordable in the metro
Living in Novi
- Homes for sale in Novi Listings and off-market deals
- Rentals in Novi Houses and apartments for rent
- Novi neighborhoods Every neighborhood on a map
- Novi crime rate From Novi's own police reports
- Novi cost of living by neighborhood Every neighborhood ranked, updated monthly
- Most expensive neighborhoods in Novi The last 12 months
- Least expensive neighborhoods in Novi The last 12 months
- Cost of living in Oakland County Every town in the county, ranked
- Most affordable cities in Metro Detroit All six counties, ranked
- Novi city guide Pros, homes and city services
Novi cost of living questions
5 questions
Is Novi, MI expensive to live in?
A typical home in Novi takes 23.0% of the median household income, against 22.9% across Metro Detroit, which ranks it 151st most affordable of 199 places.
What is the average rent in Novi?
The median gross rent is $1,747 a month, rent plus the utilities the renter pays, 45% above the metro.
How much does a house cost in Novi?
Owners put the median home value at $421,900, 69% above the metro. With a mortgage, the median owner pays $2,495 a month for the mortgage, taxes, insurance and utilities.
What income do you need to live in Novi?
Spending no more than 30% of income on housing, the usual rule, a typical Novi home at $2,121 a month calls for about $85,000 a year. The median household here earns $110,723.
Where do these numbers come from?
The U.S. Census Bureau's American Community Survey 2020-2024 5-year estimates for Novi. They are medians, half above and half below, and today's listings and rents can differ.
Source: U.S. Census Bureau, American Community Survey 2020-2024 5-year estimates.