Rents are right about where Novi's 10-year trend predicts.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,832 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: October 17, 2026
What the numbers show
January. Asking rents in Novi usually run 0.7% below trend in January and 1% above it in August, about $31 a month apart at today's median. Based on 5 years of data.
Rent in Novi is at its highest level since Zillow's records here began in August 2021.
Rent in Novi changed +3.2% over the year to September 2026. Across the 79 Michigan cities Zillow tracks, the typical change was +4.1%.
Rent has risen 4 months in a row, and rose in 8 of the last 12 months.
30% of the median household income ($110,723) is $2,768 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($2,370).
Farmington Hills, 5 miles away, rents for 19% less ($1,478/mo), about $4,200 a year in savings.
From Zillow's monthly rent index (ZORI) for Novi. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
Is your rent fair?
Compare your rent to the local median.
Who lives here
Novi, MI is majority owner-occupied, has a median income above the national average, 64.1% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Novi, MI has changed in 5 years
Compared with 2022, rent in Novi, MI has increased by $126 per month, settling near $1,832 after starting the period at $1,706. Census figures show median household income at $110,723 today, compared with $100,311 five years earlier. Income growth outran rent by about 3.0 percentage points, easing the affordability math somewhat compared with 2021. Headcount in the area went from 65,369 to 66,717 between 2021 and 2024, a 2.1% change. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 60.2% to 64.1%. The combined trend lines point to a market that has changed measurably from where it stood in early 2022.
Discussions about Novi
No discussions yet. Start the conversation.
Can you afford rent in Novi on your salary?
At $1,832/mo, how Novi rent compares to typical pay (30% rule).
Novi rent by bedroom count
Median rent for each apartment size in Novi. Click any size for full breakdown.
Tips for renters in Novi
Last updated: October 17, 2026
The median rent in Novi is $1,832/mo as of October 2026. A studio apartment averages $1,290/mo while a 2-bedroom runs $1,790/mo. One-bedroom apartments average $1,415/mo and 3-bedroom units go for $2,195/mo.
At 20% of local median household income ($110,723/yr), Novi ranks as affordable compared to the national benchmark of 30%. Rents have increased 3.2% over the past year.
Frequently asked questions
How much income do you need to rent in Novi?
Is rent going up or down in Novi?
When is the cheapest time to rent in Novi?
Which Novi neighborhoods have the lowest rent?
How does Novi rent compare to other cities in Michigan?
Which nearby cities are cheaper to rent in than Novi?
At $1,832/mo, rent takes ~20% of Novi's median household income ($110,723/yr). The standard benchmark is 30%.
How does this area stack up?
Pick another city or ZIP to compare.
Estimated from ZIP-level data
Be the first to submit your rent for Novi.
No discussions yet.