ZIP Code · MI

ZIP 48377

Part of Novi, MI

Pop. 19,816·Oakland County·18th most expensive ZIP in Michigan

Median rent (all units)

$1,976/mo

Year-over-Year

+2.6%

Month-over-Month

+1.1%

vs US Median

+$44

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 48377 · $1,976

More expensive than 60% of US ZIP codes · National median $1,932/mo

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Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$1,110

1 BR

$1,230

2 BR

$1,550

3 BR

$1,890

4 BR+

$2,050

Research median

$1,550/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: October 17, 2026

From the history

What the numbers show

Past year vs. the rest of Michigan

Rent in ZIP 48377 changed +2.6% over the year to September 2026. Across the 134 Michigan ZIP codes Zillow tracks, the typical change was +4.4%.

Recent direction

Rent has risen 4 months in a row, and rose in 8 of the last 12 months.

What a typical income covers

30% of the median household income ($83,104) is $2,078 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($2,050).

Cheaper nearby

ZIP 48375, 3 miles away, rents for 11% less ($1,759/mo), about $2,600 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 48377. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$23,712/yr

At $1,976/mo median

Location

CityNovi

StateMI

CountyOakland County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (2.6% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+2.6% YoY, +1.1% MoM), not inventory.

Demographics

Who lives here

ZIP 48377 (Novi, MI) is roughly split between renters and owners, has a large retiree population, 56.1% of residents hold a bachelor's degree or higher.

Population

19,816

Median income

$83,104

Median age

38.2

Renters

53.3%

Age distribution

20.5%

22.2%

27.5%

20.3%

Under 1820.5%

18–3422.2%

35–5427.5%

55–649.5%

65+20.3%

Gender

48.6%

51.4%

Male48.6%

Female51.4%

Race & ethnicity

55.1%

13.5%

24.5%

White55.1%

Black13.5%

Hispanic3.8%

Asian24.5%

Other3.2%

Education (25+)

15.9%

23.2%

56.1%

No HS diploma4.8%

HS diploma15.9%

Some college23.2%

Bachelor's+56.1%

Housing tenure

46.7%

53.3%

Owner46.7%

Renter53.3%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How ZIP 48377 in Novi, MI has changed in 5 years

Income

$73,345 → $83,104

up 13.3%

Population

18,942 → 19,816

up 4.6%

Renter share

50.7% → 53.3%

+2.6 pts

Bachelor's+

52.1% → 56.1%

+4.0 pts

Household income in the area moved from $73,345 to $83,104 across the same window, up 13.3% versus 2021. Census counts show ZIP 48377 in Novi, MI adding about 874 residents over the five-year window, up 4.6% on net. The renter share has risen from 50.7% to 53.3%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 52.1% to 56.1% across the same window.

Community

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Local insights

Tips for renters in ZIP 48377

About renting in ZIP 48377

Last updated: October 17, 2026

ZIP code 48377 covers Novi, MI. The median rent here is $1,976/mo as of October 2026. A 1-bedroom rents for a median of $1,230/mo. A 2-bedroom rents for a median of $1,550/mo.

At 29% of local median household income ($83,104/yr), ZIP 48377 ranks as affordable compared to the national benchmark of 30%. Rents have increased 2.6% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 48377?

To keep rent at or below 30% of gross income, you would need to earn at least $79,000/year (about $38/hour full-time) to afford the median rent of $1,976/mo in ZIP 48377. The local median household income is $83,104/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 48377?

Rent in ZIP 48377 has risen 2.6% over the past year.

How does ZIP 48377 compare to other ZIPs in Michigan?

ZIP 48377 is one of the pricier among Michigan ZIP codes for rent, ranking #18 of 168 at $1,976/mo. Over the year to September 2026, rent in ZIP 48377 changed +2.6%, against a typical +4.4% across the 134 Michigan ZIP codes Zillow tracks.