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 |
Rent Price |
Apr | vs Last Month |
---|---|---|
Studio apartments | $3,759 | N/A |
1-bed apartments | $1,903 | +66.1% |
2-bed apartments | $2,802 | +90.1% |
3-bed apartments | $2,589 | -0.6% |
4+ bed apartments | $3,108 | -6% |
Over the April 2023, the average rent for an apartment in/near Novi, MI increased by 72.8% to $2,546.
The average price for a rental studio in Novi, MI has remained the same as last month and equals $3,759. Breaking it down in details, we now see that the average price for 1-bed apartment increased by 66.1% to $1,903. Pricing for 2-bed apartment also increased by 90.1% and a place of this size will now cost you $2,802. 3-bed apartment rent pricing starts at $2,589, it decreased by 0.6% lately. We tend to note the rise of 4- and more bed apartment pricing. It decreased by 6% and made it down to $3,108.
Rent Type Price |
Apr | vs Last Month |
---|---|---|
Condos for rent | $6,685 | +184.7% |
Apartments for rent | $1,719 | +21.8% |
Houses for rent | $3,511 | +34.4% |
Townhouses for rent | $4,950 | N/A |
The median rent for an apartment in Novi, MI increased by 21.8% to $1,719. Statistics show that house rent price increased by 34.4% this month making it up to $3,511. Condos faced an upward trend these days. The median rent for a condo increased by 184.7%, it’s now available for $6,685. If you’re looking for a room, the price tag still starts at $850. The median price did not change this time. Townhouse rent pricing didn’t change, the price still starts at $4,950.