salaryRent is higher than in 54% of U.S. cities. A typical house costs about 3.5 years of household income. It is a highly educated city: 64.1% of adults have a college degree.
How much money do I need?
To rent here comfortably, you should earn about $69,520 a year. That is $33 an hour at a full-time job.
Is rent cheaper than other Michigan cities?
No. Rent here is more expensive than in most of Michigan. It is number 147 of 179 cities from cheapest to most expensive.
How much do households earn in Novi?
Share of households by yearly income. 44.6% of households earn $100,000 or more.
Rent by apartment size in Novi
| Size | Novi | U.S. average |
|---|---|---|
| Studio | $1,684 | $1,338 |
| 1 bedroom | $1,514 | $1,324 |
| 2 bedrooms | $1,951 | $1,509 |
| 3 bedrooms | $2,506 | $1,698 |
| 4 bedrooms | $2,817 | $2,098 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Novi overall?
Everyday prices in the Detroit-Warren-Dearborn metro area are same as the U.S. average (index 100.3, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024.
Taxes and bills in Novi
Life in Novi
What jobs pay in Novi
| Job | Median pay | Rent / pay |
|---|---|---|
| Pharmacist | $137,770 | 15.1% |
| Lawyer | $134,980 | 15.5% |
| Nurse Practitioner | $134,390 | 15.5% |
| Physician Assistant | $131,830 | 15.8% |
| Software Developer | $130,760 | 15.9% |
| Operations Manager | $104,010 | 20.1% |
| Computer Systems Analyst | $103,670 | 20.1% |
| Registered Nurse | $97,280 | 21.4% |
| Civil Engineer | $92,550 | 22.5% |
| Plumber | $86,370 | 24.1% |
| Dental Hygienist | $84,480 | 24.7% |
| Electrician | $81,990 | 25.4% |
| Accountant | $80,650 | 25.9% |
| Police Officer | $78,450 | 26.6% |
| Market Research Analyst | $77,100 | 27.1% |
| Licensed Practical Nurse | $69,300 | 30.1% |
| Carpenter | $65,810 | 31.7% |
| Elementary School Teacher | $65,210 | 32.0% |
| HVAC Technician | $63,170 | 33.0% |
| Firefighter | $62,730 | 33.2% |
| Truck Driver | $59,120 | 35.3% |
| Customer Service Representative | $44,730 | 46.6% |
| Warehouse Worker | $40,330 | 51.7% |
| Nursing Assistant | $39,900 | 52.3% |
| Medical Assistant | $39,410 | 52.9% |
| Server (Waiter/Waitress) | $37,490 | 55.6% |
| Restaurant Cook | $37,410 | 55.7% |
| Retail Salesperson | $35,130 | 59.4% |
| Cashier | $30,090 | 69.3% |
Is it cheaper to rent or buy in Novi?
Renting is cheaper right now: about $1,189 a month less.
Owning assumes a typical $421,900 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $42,190 for the down payment.
Frequently asked questions
What is the average rent in Novi, MI?
Renting in Novi costs a median of about $1,738 a month in 2026, including utilities. The Michigan median is $1,314.
How much do I need to make to live in Novi?
To keep rent under 30% of income, you need about $69,520 a year, or $33 an hour at a full-time job.
Is Novi cheap or expensive?
Novi is rated Cheap: rent takes 17.5% of the typical household income of $119,415. It ranks 147th cheapest of 179 Michigan cities we track.
How much are property taxes in Novi?
The median homeowner in Novi pays $5,770 a year in property taxes, about 1.37% of the median home value.
Is Novi more expensive than the national average?
Overall prices in the metro area are same as the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in Novi?
The median home value in Novi is $421,900, about 3.5 times the typical yearly household income.
66,717 people live in Novi. Numbers are typical (middle) values.