The median home in Novi, Michigan is valued at $451,853, up 3.4% year over year. Typical monthly rent is $1,777, producing a price-to-rent ratio of 21.2x — well above the national average of 18x. Novi is part of the Detroit-Warren-Dearborn, MI metropolitan area, which CrashWatch tracks daily with real-time stress scores and crash risk analysis.

See the full metro analysis: Detroit-Warren-Dearborn, MI stress score, crash risk, and 12-month forecast →

Home Value$451,853

+3.4%

Rent$1,777/mo

AFFORDABILITY

Enter your income for Novi.

Income (annual)

Down Payment

$90,371 on $451,853

Out of reach — 48% of income

Need $128,486/yr to afford.

PITI$2,998

P/I48%

Afford$264K

Gap-$188K

P&I $2,285Tax $580Ins $133

Renting $1,221/mo cheaper ($1,777 rent)6.50% 30yr, 20% down, county tax + MI ins. 28% per HUD.

Home Buying Kit For Dummies (2025)Financing, negotiation, closing

Other cities in Michigan

Compare Novi with other housing markets across Michigan.

Lake Angelus$1659K Leland$1097K Orchard Lake$914K Franklin$845K Lake Leelanau$832K Kewadin$811K Lakeside$800K Northport$758K

Full Detroit-Warren-Dearborn, MI analysis

Stress scores, crash risk, early warning signals, and 12-month price forecasts for the Detroit-Warren-Dearborn, MI metro.

View Detroit-Warren-Dearborn, MI metro →

NOVI, MI