Living in Novi, Michigan
Cost of living, income, home prices, rent and demographics of Novi · Census data 2020–2024
Novi has 66,717 residents with a median age of 40. The median household income is $110,723 (52% higher than the Michigan median), the median home value is $421,900, the median rent is $1,747/month.
Novi at a glance
- Population
- 66,717
- Median age
- 40State: 40.2
- Median household income
- $110,723State: $72,875
- Median home value
- $421,900State: $231,600
- Median rent
- $1,747/moState: $1,129
- Homeowners
- 66.3%
- Bachelor's degree or higher
- 64.1%
- Average commute
- 26 min
Is Novi a good place to live?
Pros: Median household income 52% higher than the Michigan median; unemployment of 4.3%; a poverty rate of 5.4%.
Cons: Home values 82% higher than the state median; an average commute of 26 minutes.
The weather is best in June to September.
Cost of living in Novi
Housing is the biggest part of the cost of living. In Novi the median home value is $421,900, 27% higher than the U.S. median. Renters pay a median of $1,747 per month, which is 26.3% of household income. Homeowners with a mortgage pay $2,495 a month in housing costs.
Novi median household income
The median household income in Novi is $110,723 and the income per person is $62,114. 5.4% of residents live below the poverty line (Michigan: 13.2%).
Housing in Novi: homes for sale and rent
- Housing units
- 28,351
- Owner-occupied
- 66.3%
- Renter-occupied
- 33.7%
- Vacant
- 5.5%Includes seasonal homes
- Median year built
- 1993
- Average household size
- 2.48
Novi demographics
- Population
- 66,717
- Median age
- 40
- Under 18
- 23.4%
- 65 and older
- 15.4%
- Households
- 26,801
- Foreign-born
- 29.2%
- Veterans
- 4.1%Adults 18+
Hispanic or Latino can be of any race. Population history of Novi ›
Education in Novi
64.1% of adults 25 and older in Novi have a bachelor's degree or higher (Michigan: 32.4%), and 30.5% have a graduate or professional degree.
Jobs and commute in Novi
- Unemployment rate
- 4.3%State: 5.7%
- Average commute
- 26 minState: 24 min
- Work from home
- 22.8%
- Drive alone
- 70.8%
- Public transit
- 0.5%
- Walk to work
- 0.5%
- Homes with broadband
- 96.8%
Novi vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Novi | 66,717 | $110,723 | $421,900 | $1,747 |
| Northville | 6,069 | $145,530 | $465,400 | $1,623 |
| Wixom | 17,295 | $65,485 | $365,200 | $1,035 |
| Walled Lake | 7,299 | $72,055 | $224,200 | $1,419 |
| Wolverine Lake | 4,487 | $92,247 | $288,000 | $2,051 |
| Farmington | 11,504 | $97,750 | $297,200 | $1,340 |
| Farmington Hills | 83,515 | $104,836 | $354,500 | $1,551 |
| Plymouth | 9,214 | $112,145 | $448,600 | $1,217 |
| Livonia | 93,851 | $98,460 | $281,100 | $1,322 |
More for people moving to Novi
Novi ZIP code ›Weather and climate ›Living in Novi: FAQ
What is the median household income in Novi, MI?
The median household income in Novi is $110,723, 52% higher than the Michigan median of $72,875 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Novi?
The median home value in Novi is $421,900, compared with $231,600 in Michigan.
How much is rent in Novi?
The median gross rent in Novi is $1,747 per month, about 26.3% of household income.
Is Novi, MI a good place to live?
Pluses: median household income 52% higher than the Michigan median; unemployment of 4.3%; a poverty rate of 5.4%. Minuses: home values 82% higher than the state median; an average commute of 26 minutes.
What is the median age in Novi?
The median age in Novi is 40 years (Michigan: 40.2).
How long is the commute in Novi?
The average commute to work in Novi is 26 minutes; 22.8% of workers work from home.
What is the unemployment rate in Novi?
The unemployment rate in Novi is 4.3% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Novi?
64.1% of adults in Novi have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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