Northville, MI—48167
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Northville, MI
Home Price Trends — Northville, MI
As of Oct '25, the median home price in Northville, MI is $474,000, with a year-over-year change of 4.3%. This indicates that home prices in Northville, MI are increasing. According to Zillow, the 1-year price projection is 1.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $474,000 | 4.3% |
| Single Family | $557,000 | 4.7% |
| Condos | $261,000 | 1.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $171,000 | 0.6% |
2 Bed | $246,000 | 0.8% |
3 Bed | $424,000 | 3.9% |
4 Bed | $636,000 | 4.3% |
| 5 Bed | $1,009,000 | 3.2% |
% of Housing Stock
Rental Trends — Northville, MI
As of July '25, Rentcast reports the average rent in Northville, MI is $2,500, with a year-over-year rent change of 2.0%. Per bedroom, the median rent as of July '25 in Northville, MI is 1-bedrooms: $1,830, 2-bedrooms: $2,230, 3-bedrooms: $3,120, 4-bedrooms: $3,340. The most common rental property sizes in Northville, MI are 2-bedroom and 1-bedroom, accounting for 57.0% and 27.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,950 | $2,500 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,360 | $1,830 |
| 2 Bed Rent | $1,900 | $2,230 |
| 3 Bed Rent | $2,200 | $3,120 |
| 4 Bed Rent | $3,250 | $3,340 |
% of Rental Stock
Property Listings — Northville, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Northville, MI is 47. This is a increase of 2.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 24.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $712,000 | 2.0% |
Listing Count | 100 | 16.0% |
| Listings as % of Homes | 0.4% | 16.0% |
Days on Market | 47 | 2.0% |
Demographics — Northville, MI
As of the latest ACS Survey released in 2023, Northville, MI has a population of 23,300, which has increased by 5.3% over the past 5 years. Northville, MI is a moderately popular place for families, as children make up 19.6% of the population. The area has a highly educated workforce, with 59.1% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 25.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 23,300 | 5.3% |
% Under 18 | 19.6% | -14.0% |
% Seniors | 17.3% | 10.9% |
% WFH | 25.5% | 390.4% |
% w/ College Degree | 59.1% | -0.7% |
As of the latest ACS Survey released in 2023, Northville, MI is a predominantly white area, with 78.1% of the population identifying as white. The white population has grown by 0.5% in the last 5 years. The second most common race or ethnicity in Northville, MI is asian, making up 9.8% of the population. Foreign-born residents account for 14.5% of the population in Northville, MI, and this percentage has increased by 22.9% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 78.1% | 0.5% |
% Black | 3.8% | -39.7% |
% Hispanic | 3.8% | -13.6% |
% Asian | 9.8% | 6.5% |
% Foreign Born | 14.5% | 22.9% |
Mortgage and Risk — Northville, MI
According to HUD data as of 2023, there were 470 mortgage originations in Northville, MI, of which 95.0% of loans were conventional mortgages. The average loan-to-value was 57.0%, with 14.0% above 90% LTV (elevated). This implies medium mortgage risk in Northville, MI. Investor activity is low, as 1.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 470 |
% Conventional Loans | 95.0% |
% Government Loans | 5.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Northville, MI
As of 2024, the percent of homes in Northville, MI under the Section 8 program is 0.6%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Northville, MI, because HUD payments exceed market rent, while 2-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 16 |
Total Units Section 8 | 16 |
% Rentals under Section 8 | 0.6% |
% Occupied Section 8 | 84.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $80 | $1,360 | $1,440 |
| 2 Bedroom | -$80 | $1,900 | $1,820 |
| 3 Bedroom | $20 | $2,200 | $2,220 |
| 4 Bedroom | -$840 | $3,250 | $2,410 |
Affordability — Northville, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.5 |
| Median Home Price | $474,000 |
| Median Household Income | $118,000 |