Median rent
for residential apartments
in Novi, MI
as of Apr, 2023.
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.
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122 Novi, MI, USA apartments for rent
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Condo For Rent In Novi, Michigan
45550 Andes Hill Court, Novi, MI 48374, USA
3
Bed
3
Bath
1,636
Sq Ft
Condo For Rent In Walled Lake, Michigan
127 Lake Village Drive, Walled Lake, Oakland County, MI 48390, USA
2
Bed
1
Bath
876
Sq Ft
Condo For Rent In Novi, Michigan
26343 Fielstone Drive, Novi, MI 48374, USA
3
Bed
3
Bath
2,372
Sq Ft
Condo For Rent In Wixom, Michigan
Michigan Air Line Trail, Wixom, MI 48393, USA
3
Bed
3
Bath
1,499
Sq Ft
Condo For Rent In Novi, Michigan
24810 Olde Orchard Street, Novi, MI 48375, USA
2
Bed
2
Bath
1,048
Sq Ft
Home For Rent In Novi, Michigan
21863 Sunrise Boulevard, Novi, MI 48375, USA
4
Bed
3
Bath
2,248
Sq Ft
Condo For Rent In Novi, Michigan
23641 North Rockledge, Novi, MI 48375, USA
2
Bed
2
Bath
1,024
Sq Ft
Condo For Rent In Novi, Michigan
28438 Carlton Way Drive, Novi, MI 48377, USA
2
Bed
2
Bath
1,579
Sq Ft
Condo For Rent In Novi, Michigan
24810 Olde Orchard Street, Novi, MI 48375, USA
3
Bed
2
Bath
1,058
Sq Ft
Condo For Rent In Novi, Michigan
Novi Post Office, 24875 Novi Road, Novi, MI 48376, USA
3
Bed
3
Bath
1,854
Sq Ft
Condo For Rent In Novi, Michigan
28438 Carlton Way Drive, Novi, MI 48377, USA
2
Bed
2
Bath
1,579
Sq Ft
Condo For Rent In Novi, Michigan
39807 Village Wood Circle, Novi, MI 48375, USA
3
Bed
2
Bath
1,354
Sq Ft
Condo For Rent In Wixom, Michigan
3243 Johanna Ware West, Wixom, MI 48393, USA
3
Bed
3
Bath
1,499
Sq Ft
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 |
Housing Trends
Average apartment rent in Novi:
$2,546 (+72.8%)
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.
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