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States / Michigan / Novi

Novi, MI Housing

ACS 2020-2024

Median Home Value
$421,900 ± $16,816
Median Gross Rent
$1,747 ± $64/mo
Homeownership Rate
66.3%
Rent as Share of Income
18.9%
Price-to-Income Ratio
3.8×
Vacancy Rate
5.5%
Median Year Built
1993

New Construction (2025)

Housing units authorized by building permit — a leading signal of new supply, from the Census Building Permits Survey.

Units Authorized
78
Buildings
52
Single-Family Units
46
Multi-Family Units
32

Nearby Cities in Michigan

Source: U.S. Census Bureau, American Community Survey, ACS 2020-2024.

Novi, MI Housing: Rent & Home Values | HomeDataUSA