Median rent for residential in as of Apr, 2022.
Remember to negotiate your rent according to median rental prices. Also, take into account that the price depends on the size/amenities of the apartment.
36 Novi, MI, USA apartments for rent
Novi
Novi, MI has a population of 58,835, while the median age is 38. The household income in Novi, MI is around $88,667. The homeownership rate among the residents is 65%. The median residential property value in Novi, MI that you should keep in mind is $290,600.
| Population | 58,835 |
| Median Age | 38.4 |
| Poverty Rate | 6% |
| Household Income | $88,667 |
| Number Of Employees | 30,134 |
| Median Property Value | $290,600 |
Business & Economy
Wage by Common Jobs
Average salary in Novi, MI: $47,210
- 1. Miscellaneous managers$93,683
- 2. Registered nurses$63,564
- 3. Elementary & middle school teachers$55,810
- 4. Firstline supervisors of retail sales workers$46,668
- 5. Driver/sales workers & truck drivers$44,305
Highest Paid Occupations
Numbers claim that the highest paid jobs in Novi, MI are Management Occupations, Architecture & Engineering Occupations, Legal Occupations, Computer, Engineering, Science Occupations and Management, Business, Financial Occupations.
Highest Paid Industries
Keeping in mind that the employment rate changed by 1% recently, there must be a strong understanding of industries people of Novi, MI work in. The highest paid industries are Manufacturing, Utilities, Management of Companies & Enterprises, Wholesale Trade and Transportation & Warehousing, Utilities.
Demographics
Race & Ethnicity
According to latest census, Novi, MI is a home for 66% white residents. The second common group is asian with 22% residents. The list of the most common racial or ethnic groups is closed by black with 9% residents.
Non-English Speakers
Education
Past year Novi, MI universities awarded around 581,200 degrees. Statistics show that the population of students in Novi, MI includes 290,600 female students and 290,600 male students. Novi, MI offers private and public tuition with a median cost of $n/a for private four-year colleges and $n/a for in-state public four-year colleges. The largest university of this city is the South University-Novi with the majority of graduates. The share of the public colleges in Novi, MI is n/a and 100 go to the private colleges.
Universities
- 1. South University-Novi229 graduates
- 2. The Art Institute of Michigan151 graduates
Public vs Private
Health and Safety
Primary care physicians in Novi, MI see an average of 691 patients, dentists 943 patients, metal health providers 332 patients, and other healthcare providers 990 patients per year.
Transportation
Commute Time
Average travel time: 25.62 minutes
Commuter Transportation
Citizens of Novi, MI travel to their offices around 26 minutes lately and drove alone to get there. The rest of the residents carpooled and worked at home.
Housing Trends
How much is an apartment in Novi, MI, USA
Average rent in Novi: $2,276 (+8.1%)
| Rent Price | Apr | vs Last Month |
|---|---|---|
| 1 bed rentals | $1,404 | +3.7% |
| 2 bed rentals | $1,931 | +16.3% |
| 3 bed rentals | $2,406 | +1.5% |
| 4+ bed rentals | $2,740 | -15.2% |
Over the Apr 2022, the average rent for an apartment in/near Novi, MI increased by 8.1% to $2,276.
Breaking it down in details, we now see that the average price for 1-bed apartment stands at $1,404 with no changes this month. Pricing for 2-bed apartment remains the same, a place of this size will still cost you $1,931. Reports state that an average 3-bed apartment pricing did not change, so you can still get yourself one for $2,406. Consequently, we now see that the 4- and more bed apartments pricing stays the same, so you can still face an estimate price around $2,740 for a big-family home.
| Rent Type Price | Apr | vs Last Month |
|---|---|---|
| Condo rentals | $2,079 | -0.2% |
| House rentals | $2,669 | -1.1% |
| Apartment rentals | $1,533 | +2.6% |
| Loft rentals | $2,400 | N/A |
| Townhouse rentals | $2,500 | N/A |
Looking at the median rent price for an apartment in Novi, MI, you can note that it remains flat with a price tag of $1,533. The median rent for a house is still $2,669 with no significant changes this month. Condo for rent is now available for the same pricing as previously — $2,079. The median rent for a loft did not face significant changes this time, it now still goes for $2,400. Townhouse rent pricing didn’t change, the price still starts at $2,500.
Rent vs Own
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