Novi, MI—48377
Real Estate Data & Market Trends
Key Metrics at a Glance
Median Home Value
$385,000
2.7% YoY Growth
Household Income
$83,400
32.6% YoY Growth
Days on Market
24
26.0% Shorter YoY
Home Price Forecast
-0.2%
Median Rent
$2,330
1.2% YoY Growth
1-Bed Rent
$1,220
10.7% YoY Growth
2-Bed Rent
$2,100
0.0% YoY Growth
3-Bed Rent
$2,600
1.6% YoY Growth
Home Price Trends — Novi, MI
As of May '26, the median home price in Novi, MI is $385,000, with a year-over-year change of 2.7%. This indicates that home prices in Novi, MI are increasing. According to Zillow, the 1-year price projection is -0.2%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $385,000 | 2.7% |
| Single Family | $510,000 | 2.8% |
| Condos | $354,000 | 2.6% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed |