Housing & Real Estate — Novi, Michigan
Overview
| Total Housing Units | 27,934 |
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| Occupied | 26,474 |
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| Vacant | 1,460 |
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| Owner-Occupied | 18,008 |
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| Renter-Occupied | 8,466 |
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| Median Home Value (Census) | $421,900 |
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| Estimated 2026 | ~$480,000 |
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| Median Rent | $1,696/mo |
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| Median Property Tax | $5,770/yr |
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Affordability
| Home Price to Income Ratio | N/Ax |
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| Home Affordability | N/A |
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| Rent as % of Income | N/A% |
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| Severely Rent-Burdened | 34.0% |
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Housing Age
| Built 2010 or later | 4,855 |
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| Built 2000-2009 | 5,711 |
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| Built 1990-1999 | 5,493 |
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| Built before 1960 | 1,336 |
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| Median Year Built | 1992 |
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Sources: Census ACS 5-Year 2023; Census ACS 5-Year 2023, B25077; HUD FMR FY2026.
