Novi, MI Rental Market Trends

Q: What are the most affordable neighborhoods in Novi?

The most affordable neighborhoods in Novi are Hazel Park , where the average rent goes for $776/month, Pontiac , where renters pay $1,030/mo on average, and Lake Orion, where the average rent goes for $1,074/mo. If you’re looking for other great deals, check out the listings from Madison Heights ($1,101), Wixom ($1,107), and South Lyon ($1,130), where the asking prices are below the average Novi rent of $1,530/mo.

Q: What are the most popular neighborhoods in Novi?

The most popular neighborhood in Novi is Southfield , where there are 27 listings with an average rent of $1,279. Next up is Farmington Hills , where apartments go for $1,405/month, followed by Pontiac with $1,030 If you’re looking to rent in Novi’s most popular neighborhoods, make sure to also check out Rochester Hills , where renters pay $1,549 on average, and Royal Oak , where the average monthly rent is $1,465.

What is the average rent in Novi?

The average rent for an apartment in Novi is $1,530. The cost of rent varies depending on several factors, including location, size, and quality.

Average rent in Novi, MI

Last updated July 2023

Average Rent	Average Apartment Size
$1,530	1,002 sq. ft.

What is the average apartment size in Novi?

The average size for a Novi, MI apartment is 1,002 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

8,768 or 33% of the households in Novi, MI are renter-occupied while 17,516 or 67% are owner-occupied.

Novi, MI rent trends

Access comprehensive real estate data and information on Yardi Matrix

Average Rent in Novi, MI By Neighborhood

Neighborhood	Average Rent
Birmingham	$2,374
Ferndale	$1,834
Beverly Hills	$1,624
Bingham Farms	$1,624
Franklin	$1,624
Troy	$1,555
Rochester Hills	$1,549
Rochester	$1,543
Auburn Hills	$1,500
Lake Angelus	$1,500
Village Of Clarkston	$1,468
Royal Oak	$1,465
Walled Lake	$1,457
Wolverine Lake	$1,457
Farmington Hills	$1,405
Lathrup Village	$1,386
Farmington	$1,298
Southfield	$1,279
Oak Park	$1,187
Berkley	$1,182
Clawson	$1,181
Keego Harbor	$1,180
Sylvan Lake	$1,180
Orchard Lake Village	$1,168
Holly Village	$1,165
Oxford Village	$1,161
South Lyon	$1,130
Wixom	$1,107
Madison Heights	$1,101
Lake Orion	$1,074
Pontiac	$1,030
Hazel Park	$776

What are the most affordable neighborhoods in Novi?

The most affordable neighborhoods in Novi are Hazel Park, where the average rent goes for $776/month, Pontiac, where renters pay $1,030/mo on average, and Lake Orion, where the average rent goes for $1,074/mo. If you’re looking for other great deals, check out the listings from Madison Heights ($1,101), Wixom ($1,107), and South Lyon ($1,130), where the asking prices are below the average Novi rent of $1,530/mo.

What are the most expensive neighborhoods in Novi?

The most expensive neighborhoods in Novi are Franklin ($1,624), Ferndale ($1,834) and Birmingham ($2,374).

What are the most popular neighborhoods in Novi?

The most popular neighborhood in Novi is Southfield, where there are 27 listings with an average rent of $1,279. Next up is Farmington Hills, where apartments go for $1,405/month, followed by Pontiac with $1,030 If you’re looking to rent in Novi’s most popular neighborhoods, make sure to also check out Rochester Hills, where renters pay $1,549 on average, and Royal Oak, where the average monthly rent is $1,465.

Novi | Rent Comparison by Neighborhood

Rent in Auburn Hills is 27% higher than in Berkley

$1,500

Auburn Hills rent is 2% lower than Novi average

Average Rent $1,500

$1,182

Berkley rent is 23% lower than Novi average

Average Rent $1,182

How Novi Compares to Other Cities

City	Average Rent
Detroit	$1,212
Ann Arbor	$1,980
Ann Arbor	$1,980
Grand Rapids	$1,437
East Lansing	$1,528
Lansing	$1,121
Southfield	$1,279
Southfield	$1,279
Kalamazoo	$1,192
Walker	$1,314
Ypsilanti	$1,465
Ypsilanti	$1,465
Farmington Hills	$1,405
Farmington Hills	$1,405
Westland	$1,093
Pontiac	$1,030
Royal Oak	$1,465
Novi	$1,530
Troy	$1,555
Ferndale	$1,834
Oak Park	$1,187

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 $137.5. Rental costs vary depending on several factors, including unit size and the storage facility's location and amenities.