About 34% of Novi households rent, roughly 9,000 homes out of 26,800.
| Population | 66,717 |
| Households that rent | 9,043 (33.7%) |
| Median gross rent | $1,747 per month |
| Rental vacancy rate | About 7% |
| Median home value | $421,900 |
| Median household income | $110,723 |
Source: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates (tables B01003, B25003, B25064, B25077, B19013). The vacancy rate is calculated from table B25004 and is approximate.
| 1 bedroom | $1,369 |
| 2 bedrooms | $1,764 |
| 3 bedrooms | $2,266 |
These are median gross rents across all occupied rentals in Novi, including long-standing leases, and they include utilities paid by the tenant. A home coming to market today may be priced differently. A free rental analysis gives you a figure for your specific address.
Source: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates, table B25031 (median gross rent by bedrooms).
| ZIP code | 1 bed | 2 beds | 3 beds | 4 beds |
|---|
| 48167 | $1,560 | $1,950 | $2,370 | $2,570 |
|---|
| 48374 | $1,750 | $2,190 | $2,670 | $2,900 |
|---|
| 48375 | $1,750 | $2,190 | $2,670 | $2,900 |
|---|
| 48377 | $1,300 | $1,630 | $1,980 | $2,150 |
|---|
These are the fair market rents HUD sets for fiscal year 2027, used for housing choice voucher payments. HUD sets them a little below the middle of the market and includes utilities, so a well-kept home may rent for more. A free rental analysis gives you a figure for your specific address.
Source: U.S. Department of Housing and Urban Development, Small Area Fair Market Rents, FY 2027. The ZIP codes shown cover Novi; a ZIP code can extend into neighboring communities.
As of October 2026, the City of Novi does not list a rental registration or rental inspection program on its Community Development pages.
Owners can confirm current requirements with the City of Novi Building Division at 248-347-0415 before leasing.
Source: City of Novi, Community Development.
Official sources for this page were last checked on November 5, 2026.
Most of Novi is served by the Novi Community School District. Some addresses fall in neighboring districts, so it is worth confirming the district before a home is advertised. Novi addresses use ZIP codes 48374, 48375 and 48377.
We also manage rental homes and multi-family units in Northville, Walled Lake, Wixom, Farmington Hills and Farmington. See every community we serve in Oakland County.
What is the average rent in Novi, MI?
The median gross rent in Novi is $1,747 per month, according to the Census Bureau's 2020–2024 American Community Survey. Three-bedroom rentals have a median of $2,266.
Do I need to register my rental property in Novi?
As of October 2026, the City of Novi does not list a rental registration program on its Community Development pages. Confirm current requirements with the Building Division at 248-347-0415 before leasing.
How often does Novi inspect rental properties?
The City of Novi does not list a routine rental inspection program on its Community Development pages. The Building Division at 248-347-0415 can confirm what applies to a specific property.
How many homes in Novi are rentals?
About 34% of occupied homes in Novi are rented, roughly 9,000 households, according to the Census Bureau.
What types of Novi properties do you manage?
We manage and lease single-family homes and multi-family units in Novi and across Oakland County.
How do I find out what my Novi home will rent for?
Request a free rental analysis and we will send you a rent estimate for your address.
