Novi, MI Rental Market Trends
What is the average rent in Novi?
The average rent for an apartment in Novi is $1,620. The cost of rent varies depending on several factors, including location, size, and quality.
Average rent in Novi, MI
Last updated November 2024
| Average Rent | Average Apartment Size |
|---|---|
| $1,620 | 1,023 sq. ft. |
What is the average apartment size in Novi?
The average size for a Novi, MI apartment is 1,023 square feet, but this number varies greatly depending on unit type, with cheap and luxury alternatives for houses and apartments alike. Studio apartments are the smallest and most affordable, 1-bedroom apartments are closer to the average, while 2-bedroom apartments and 3-bedroom apartments offer a more generous square footage.
Novi, MI apartment rent ranges
Novi, MI Occupied Housing Units
8,505 or 32% of the households in Novi, MI are renter-occupied while 18,011 or 68% are owner-occupied.
Novi, MI rent trends
Average Rent in Novi, MI By Neighborhood
| City | Average Rent |
|---|---|
| Birmingham | $2,240 |
| Ferndale | $2,226 |
| Milford Village | $1,911 |
| Walled Lake | $1,582 |
| Wolverine Lake | $1,582 |
| Village Of Clarkston | $1,581 |
| Rochester Hills | $1,574 |
| Rochester | $1,565 |
| Beverly Hills | $1,557 |
| Bingham Farms | $1,557 |
| Franklin | $1,557 |
| Troy | $1,548 |
| Auburn Hills | $1,509 |
| Lake Angelus | $1,509 |
| Royal Oak | $1,482 |
| Lathrup Village | $1,475 |
| Farmington Hills | $1,417 |
| Southfield | $1,343 |
| Farmington | $1,309 |
| South Lyon | $1,272 |
| Holly Village | $1,248 |
| Berkley | $1,237 |
| Oak Park | $1,227 |
| Keego Harbor | $1,212 |
| Sylvan Lake | $1,212 |
| Oxford Village | $1,171 |
| Lake Orion | $1,167 |
| Clawson | $1,161 |
| Orchard Lake Village | $1,140 |
| Madison Heights | $1,131 |
| Wixom | $1,105 |
| Pontiac | $1,083 |
| Hazel Park | $899 |
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What are the most affordable neighborhoods in Novi?
The most affordable neighborhoods in Novi are Hazel Park, where the average rent goes for $899/month, Pontiac, where renters pay $1,083/mo on average, and Wixom, where the average rent goes for $1,105/mo. If you’re looking for other great deals, check out the listings from Madison Heights ($1,131), Orchard Lake Village ($1,140), and Clawson ($1,161), where the asking prices are below the average Novi rent of $1,620/mo.
What are the most expensive neighborhoods in Novi?
The most expensive neighborhoods in Novi are Milford Village ($1,911), Ferndale ($2,226) and Birmingham ($2,240).
What are the most popular neighborhoods in Novi?
The most popular neighborhood in Novi is Southfield, where there are 31 listings with an average rent of $1,343. Next up is Farmington Hills, where apartments go for $1,417/month, followed by Pontiac with $1,083 If you’re looking to rent in Novi’s most popular neighborhoods, make sure to also check out Rochester Hills, where renters pay $1,574 on average, and Troy, where the average monthly rent is $1,548.
Novi | Rent Comparison by Neighborhood
Rent in Auburn Hills is 22% higher than in Berkley
$1,509
Auburn Hills rent is 7% lower than Novi average
Average Rent
$1,509
$1,237
Berkley rent is 24% lower than Novi average
Average Rent
$1,237
How Novi Compares to Other Cities
| State | Average Rent |
|---|---|
| Detroit | $1,342 |
| Grand Rapids | $1,525 |
| Lansing | $1,175 |
| East Lansing | $1,728 |
| Ann Arbor | $2,089 |
| Southfield | $1,343 |
| Kalamazoo | $1,249 |
| Farmington Hills | $1,417 |
| Westland | $1,113 |
| Walker | $1,445 |
| Ypsilanti | $1,509 |
| Novi | $1,620 |
| Pontiac | $1,083 |
| Troy | $1,548 |
| Royal Oak | $1,482 |
| Auburn Hills | $1,509 |
| Livonia | $1,378 |
| Ferndale | $2,226 |
| Oak Park | $1,227 |
| Dearborn | $1,664 |
| Wixom | $1,105 |
What is the average price for a storage unit in Novi?
The average rent for a non-climate-controlled 10'x10' storage unit in Novi is $159.5. Rental costs vary depending on several factors, including unit size and the storage facility's location and amenities.
Most Popular Apartments in Novi
Saddle Creek Apartments
43398 Citation, Novi, MI 48375| 1 BED | $1,360+ |
| 2 BEDS | $1,385+ |
Brownstones
42330 Joyce Ln., Novi, MI 48377| 1 BED | $1,777+ |
| 2 BEDS | $1,673+ |
| 3 BEDS | N/A |
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River Oaks West
43355 Cliffside Ct, Novi, MI 48375| 1 BED | $1,795+ |
| 2 BEDS | $2,245+ |
| 3 BEDS | $3,095+ |
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Edge At Novi - Novi, MI
42101 Fountain Park Dr N, Novi, MI 48375| 1 BED | $1,474+ |
| 2 BEDS | $1,624+ |