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Novi, MI
Full City Profile · Michigan · Oakland County County
3.9
/5.0
B+
Good
66,224
Population
2,190/sq mi density
$110,938
Median Income
$59,955 per capita
$399,100
Home Value
$458,257 Zillow
$1,696
Median Rent
25.2% income on rent
48°F
Avg Temperature
260 sunny days/yr
78
Violent Crime/100K
833 property/100K
B+
Overall
3.9 / 5.0
Good overall score based on economy, affordability, safety and education
A+
Economy
4.9 / 5.0
$110,938 median income, 2.6% unemployment
A+
Affordability
4.7 / 5.0
$399,100 home value, $1,696/mo rent
F
Safety
1.0 / 5.0
78 violent crimes/100K
A+
Education
5.0 / 5.0
61.2% bachelor's degree or higher
Housing Overview
Median Home Value
$399,100
42% above
US avg: $281,900
Median Rent
$1,696/mo
46% above
US avg: $1,163/mo
Homeownership Rate
68.0%
4% above US avg (65.4%)
Total Housing Units
28,027
Median year built: 1992
Home Value by Source
Census Median
$399,100
Zillow (ZHVI)
$458,257
Median Sale Price
$353,000
Median List Price
$410,000
Census ACS, Zillow ZHVI, Redfin median sale price
Ownership vs. Renting
68.0%
Owner-Occupied
32.0%
Renter-Occupied
US avg: 65.4% owner-occupied
Fair Market Rents (HUD FY2026)
Studio
$807/mo
1 Bedroom
$891/mo
2 Bedroom
$1,113/mo
3 Bedroom
$1,419/mo
4 Bedroom
$1,588/mo
Census median rent:
$1,696/mo
· Zillow rent:
$1,787/mo
Market Indicators (Redfin)
Median Days on Market
22 days
Sale-to-List Ratio
1.0%
Buyers market
Homes Sold
32
Price Drops
21.9%
of listings with price reduction
Price Per Sq Ft
$200
Active Inventory
64
homes for sale
Affordability & Housing Stock
Rent Burden
25.2%
of renters spending 30%+ of income on housing
19% below US avg (31.0%)
Median Year Built
1992
Average age of housing stock: 34 years
Homeownership Rate
68.0%
Complete Housing Data
Home Values
| Census Median Value | $399,100 |
| Zillow Home Value (ZHVI) | $458,257 |
| Median Sale Price | $353,000 |
| Median List Price | $410,000 |
| Price Per Sq Ft | $200 |
Rent
| Census Median Rent | $1,696 |
| Zillow Rent (ZORI) | $1,787 |
| FMR Studio | $807 |
| FMR 1-Bedroom | $891 |
| FMR 2-Bedroom | $1,113 |
| FMR 3-Bedroom | $1,419 |
| FMR 4-Bedroom | $1,588 |
Market
| Days on Market | 22 |
| Sale-to-List Ratio | 1.0% |
| Price Drops | 21.9% |
| Homes Sold | 32 |
| Active Inventory | 64 |
| Price Per Sq Ft | $200 |
Ownership & Stock
| Owner-Occupied | 68.0% |
| Renter-Occupied | 32.0% |
| Homeownership Rate | 68.0% |
| Total Housing Units | 28,027 |
| Median Year Built | 1992 |
| Rent Burden | 25.2% |