Michigan is bordered by four Great Lakes, making it a popular destination for boating and water activities. Michigan is also home to many national parks, including Isle Royale National Park and Sleeping Bear Dunes National Lakeshore. Explore the state's rich heritage through visits to renowned museums such as the Henry Ford Museum and the Michigan Historical Museum or get an excellent education at top universities like Michigan State University and the University of Michigan. In addition, Michigan boasts a robust economy in the manufacturing, technology, and tourism industries.

The state provides numerous opportunities for thrills and excitement. From soaking in the stunning views of the Great Lakes to hitting the ski slopes in the nearby mountains, outdoor enthusiasts will find plenty to love. Additionally, Michigan is home to several sports teams, including the Detroit Lions (NFL), Detroit Red Wings (NHL), Detroit Tigers (MLB), and Detroit Pistons (NBA). Explore famous attractions like Mackinac Island, the Detroit Institute of Arts, and scenic Mackinaw City.

Michigan offers a high quality of life, a strong economy, and a welcoming community, making it a great place to live.

Rental Market Trends

Novi, MI

As of July 2025, Novi's rental market is competitive, with strong renter demand causing quick leasing times for well-priced units. Novi's average rent is 27.0% ($369) higher than the Michigan average of $1,365 and 2.3% ($41) lower than the U.S. average of $1,775.

Average Rent

$1,734

Monthly ChangeMonth Over Month Change

0.2% ($4)

Yearly ChangeYear Over Year Change

4.4% ($79)

Avg. Days on MarketAverage Days on Market

Unit Type	Average Rent	Monthly ChangeMonth Over Month Change	Yearly ChangeYear Over Year Change
1 Bed	$1,212	3.2% ($40)	17% ($248)
2 Beds	$1,604	3.8% ($64)	13.1% ($241)
3 Beds	$2,025	2.4% ($47)	17.3% ($423)

Nearby Cities	Average Rent	Avg. Rent vs. NoviAverage Rent vs. Novi	Avg. Days on MarketAverage Days on Market
Wixom	$1,498	13.6% ($236)	32 days
Walled Lake	$1,264	27.1% ($470)	33 days
Farmington	$1,137	34.4% ($597)	35 days
Plymouth	$2,346	35.3% ($612)	40 days
Livonia	$1,113	35.8% ($621)	40 days

Rental market trends are calculated using listing data from RentalSource.

Frequently Asked Questions

Novi Rental Market FAQs

Explore rental prices, market trends, and availability in Novi, MI.

What is the average rent in Novi, MI?

The average rent in Novi, MI is $1,734 per month.

What is the rental price range for houses in Novi, MI?

Houses in Novi typically rent for between $848 and $2,633 per month, with an average of $1,734 per month.

What is the average rent for different bedroom sizes in Novi, MI?

In Novi, the average rent for a 1-bedroom house is $1,212 per month, for a 2-bedroom house, $1,604 per month, and a 3-bedroom house is $2,025 per month.

How do rent prices in Novi, MI compare with the national average?

The average rent in Novi is 2.3% ($41) lower than the national average of $1,775 per month.

How have rent prices in Novi, MI changed recently?

The average rent in Novi has decreased by 0.2% ($4) in the last month and decreased by 4.4% ($79) over the past year.

How competitive is the rental market in Novi, MI?

The rental market in Novi, MI, is currently competitive, with strong renter demand causing quick leasing times for well-priced units.

How long do rentals stay on the market in Novi, MI?

In Novi, MI, the average rental stays on the market for approximately 37 days. While most properties are rented within this timeframe, factors like seasonality, demand, and property type can affect how quickly a rental leases.

How many rental properties are available in Novi, MI?

There are currently 8 rental properties available in Novi, MI.

Can I afford to rent a house in Novi, MI?

Based on the current averages, a household would need an annual income of $64,160 to comfortably afford a 2-bedroom house in Novi.