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Advertise here →Novi, MI · Market Data
Novi, Michigan real estate market data.
Real estate market data for Novi, MI (Oakland County) — Census median home value $399,100, county listing prices down about 4.3% over the past year.
Novi, MI is in Oakland County, Michigan — covering the whole local market here: resale homes, condos, land, and new construction. The most recent Census estimate puts the population at 66,224, with a median household income of $110,938. Census data puts Novi's median home value at $399,100 (all owner-occupied homes); Oakland County's current median listing price runs $429,900, down about 4.3% over the past year.
At a glance
Novi market snapshot
Population
66,224
Median Household Income
$110,938
Median Home Value (city)
$399,100
Median Listing Price (Oakland County)
$429,900
Median Gross Rent
$1,696/mo
Price Trend (YoY)
-4.3%
Market data compiled from public sources; deemed reliable but not guaranteed; verify independently. Full source list ↗
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What makes Novi different
Home Value, By Source
The Census Bureau's American Community Survey (2023 5-year estimate) puts Novi's median home value — across all owner-occupied homes, not just recent sales — at $399,100. Separately, Oakland County's current median listing price (via Realtor.com data, 2026-06-01) runs $429,900. These cover different geography (city vs. county) and different measures (assessed value vs. active listings), which is why we show both rather than picking one — full source list on our data sources page.
County Price Trend
Oakland County's FHFA house price index shows a 4.15% annual change in 2025.
Population & Income
Novi has an estimated population of 66,224 and a median household income of $110,938, per the Census Bureau's American Community Survey (2023 5-year estimate).
Affordability Snapshot
Novi's Census-reported median home value works out to about 3.6x the area's median household income, and median gross rent runs roughly 18% of that same income on an annualized basis. Housing economists commonly flag a price-to-income ratio above 4x as historically elevated -- useful context, not a personal affordability verdict.
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Common questions
Novi FAQ
What are home values like in Novi, MI?
The Census Bureau's American Community Survey puts Novi's median home value at $399,100. Oakland County's current median listing price runs $429,900, down about 4.3% over the past year.
What is the population of Novi, MI?
The U.S. Census Bureau's American Community Survey (2023 5-year estimate) puts Novi's population at approximately 66,224.
What's the median rent in Novi, MI?
The Census ACS estimates median gross rent in Novi at approximately $1,696 per month.
What is the median household income in Novi, MI?
Census ACS data puts the median household income in Novi at approximately $110,938.
Is the Novi housing market growing?
Oakland County's FHFA house price index shows a 4.15% annual change in 2025.
Is Novi, MI affordable relative to income?
Census ACS data puts Novi's median home value at about 3.6 times the median household income, with median gross rent equal to roughly 18% of that income annually. This is a general benchmark, not a personal pre-qualification -- your own income, debt, and down payment determine what you can actually afford.
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