USA.com / Michigan / Oakland County / Novi, MI / Housing

Novi, MI Housing

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As of 2010-2014, median price of a house in Novi is $235,600, which is much higher than the state average of $120,200 and is higher than the national average of $175,700. The Novi median house value has shrunk by 0.30% since 2000. The growth rate for the price of a house in Novi is lower than the state average rate of 3.98% and is much lower than the national average rate of 46.91%. The median year that a house in Novi was built is 1989, which is newer than the median year for a house built in the state which is 1969 and is newer than the median year for a house built in the USA which is 1976.

Topics:House Value Housing Occupancy Year Structure Built Mortgage Status Mortgage Owner's Costs None-Mortgage Owner's Costs Units in Structure Rooms Bedrooms House Heating Fuel Gross Rent Vehicle Available

House Value

Median Value of a Total of 15,148 Owner Occupied Houses in Novi, MI, #33

Novi, MI	235,600 USD
Michigan	120,200 USD
U.S.	175,700 USD

Median House Price Growth Since 2000, #400

Novi, MI		-0.30%
Michigan		3.98%
U.S.		46.91%

Ranks: $50K or Less, $50-100K, $100-150K, $150-200K, $200-300K, $300-500K, $500-1M, $1M or More

*Based on 2010-2014 data. View historical house value data.

Housing Occupancy

	Novi, MI	Michigan	U.S.
Total Housing Units	24,303, see rank, 100%	4,532,719	132,741,033
Occupied Housing Units	23,001, 94.64%, see rank	84.45%	87.55%
Owner Occupied	15,148, 62.33%, see rank	60.41%	56.34%
Renter Occupied	7,853, 32.31%, see rank	24.04%	31.21%
Vacant Housing Units	1,302, 5.36%, see rank	15.55%	12.45%
For Rent	385, 1.58%, see rank	1.84%	2.34%
For Sale Only	178, 0.73%, see rank	1.40%	1.20%
Rented or Sold, Not Occupied	202, 0.83%, see rank	1.04%	0.92%
For Seasonal, Recreational, or Occasional Use	51, 0.21%, see rank	6.26%	3.97%
For Migrant Workers	0, 0.00%, see rank	0.05%	0.03%
Other Vacant	486, 2.00%, see rank	4.96%	4.00%

*Based on 2010-2014 data. View historical housing occupancy data.

Year Structure Built

Median Built Year, #19

Novi, MI	Michigan	U.S.
1989	1969	1976

Ranks: 1995 or earlier, 1960-1969, 1970-1979, 1980-1989, 1990-2000, 2000-2010

*Based on 2010-2014 data. View historical year structure built data.

Mortgage Status

	Novi, MI	%	Michigan	U.S.
Owner-Occupied Units	15,148	100%	2,738,012	74,787,460
With a Mortgage	10,695	70.60%, see rank	63.63%	65.58%
Without a Mortgage	4,453	29.40%, see rank	36.37%	34.42%

*Based on 2010-2014 data. View historical mortgage status data.

Monthly Owner Costs for Housing Units with a Mortgage

Median Owner Costs, see rank

Novi, MI	2,014 USD
Michigan	1,295 USD
U.S.	1,522 USD

Owner Costs Distribution

Monthly Owner Costs	Novi, MI	%	Michigan	U.S.
$299 or Less	20	0.19%, see rank	0.19%	0.20%
$300 to $499	102	0.95%, see rank	1.88%	1.59%
$500 to $699	206	1.93%, see rank	6.65%	5.01%
$700 to $999	714	6.68%, see rank	19.56%	14.32%
$1,000 to $1,499	2,037	19.05%, see rank	34.69%	27.90%
$1,500 to $1,999	2,207	20.64%, see rank	20.06%	20.35%
$2,000 to $2,999	3,296	30.82%, see rank	12.84%	19.52%
$3,000 or More	2,113	19.76%, see rank	4.13%	11.12%

Owner Cost as a Percentage of the Total Income, Median Percentage, see rank

Novi, MI	20.00% of the Total Income
Michigan	22.60% of the Total Income
U.S.	23.70% of the Total Income

Owner Cost as a Percentage of the Total Income, Distribution

	Novi, MI	%	Michigan	U.S.
10% or Less	833	7.79%, see rank	5.90%	5.86%
10% to 20%	4,513	42.20%, see rank	35.28%	31.95%
20% to 30%	2,985	27.91%, see rank	27.51%	27.64%
30% to 40%	1,068	9.99%, see rank	12.63%	13.74%
40% or More	1,286	12.02%, see rank	18.20%	20.29%

*Based on 2010-2014 data. View historical monthly owner costs for housing units with a mortgage data.

Monthly Owner Costs for Housing Units without a Mortgage

Median Owner Costs, see rank

Novi, MI	650 USD
Michigan	463 USD
U.S.	457 USD

Owner Costs Distribution

Monthly Owner Costs	Novi, MI	%	Michigan	U.S.
$199 or Less	256	5.75%, see rank	4.74%	7.76%
$200 to $299	215	4.83%, see rank	12.46%	14.70%
$300 to $499	675	15.16%, see rank	40.41%	34.63%
$500 to $699	1,552	34.85%, see rank	25.95%	21.16%
$700 or More	1,755	39.41%, see rank	16.44%	21.75%

Owner Cost as a Percentage of the Total Income, Median Percentage, see rank

Novi, MI	13.20% of the Total Income
Michigan	13.40% of the Total Income
U.S.	12.30% of the Total Income

Owner Cost as a Percentage of the Total Income, Distribution

	Novi, MI	%	Michigan	U.S.
10% or Less	1,705	38.29%, see rank	35.33%	40.19%
10% to 20%	1,285	28.86%, see rank	33.76%	31.47%
20% to 30%	657	14.75%, see rank	13.39%	12.24%
30% to 40%	322	7.23%, see rank	6.18%	5.64%
40% or More	484	10.87%, see rank	9.99%	9.16%

*Based on 2010-2014 data. View historical monthly owner costs for housing units without a mortgage data.

Units in Structure

	Novi, MI	Michigan	U.S.
Total Housing Units	24,303, 100%	4,532,719	132,741,033
1-unit, Detached	12,085, 49.73%, see rank	71.97%	61.65%
1-unit, Attached	2,913, 11.99%, see rank	4.66%	5.82%
2 Units	324, 1.33%, see rank	2.58%	3.75%
3 or 4 Units	1,315, 5.41%, see rank	2.56%	4.43%
5 to 9 Units	2,141, 8.81%, see rank	4.20%	4.78%
10 or More Units	4,297, 17.68%, see rank	8.58%	13.08%
Mobile Home, Boat, RV, Van, etc.	1,228, 5.05%, see rank	5.45%	6.49%

*Based on 2010-2014 data. View historical units in structure data.

Rooms

	Novi, MI	Michigan	U.S.
Total Housing Units	24,303, 100%	4,532,719	132,741,033
1 Room	130, 0.53%, see rank	1.24%	1.95%
2 Rooms	471, 1.94%, see rank	1.78%	2.48%
3 Rooms	2,529, 10.41%, see rank	7.14%	9.13%
4 Rooms	4,437, 18.26%, see rank	14.38%	16.60%
5 Rooms	3,698, 15.22%, see rank	21.00%	20.41%
6 Rooms	3,062, 12.60%, see rank	20.07%	18.06%
7 Rooms	2,666, 10.97%, see rank	13.45%	12.27%
8 Rooms	2,619, 10.78%, see rank	9.27%	8.48%
9 Rooms or More	4,691, 19.30%, see rank	11.67%	10.60%
Median Rooms	5.80, see rank	5.70	5.50

*Based on 2010-2014 data. View historical rooms data.

Bedrooms

	Novi, MI	Michigan	U.S.
Total Housing Units	24,303, 100%	4,532,719	132,741,033
No Bedroom	160, 0.66%, see rank	1.35%	2.17%
1 Bedroom	2,988, 12.29%, see rank	9.11%	11.16%
2 Bedrooms	7,139, 29.37%, see rank	26.33%	26.69%
3 Bedrooms	6,543, 26.92%, see rank	43.93%	39.70%
4 Bedrooms	6,697, 27.56%, see rank	15.80%	16.05%
5 or More Bedrooms	776, 3.19%, see rank	3.47%	4.22%

*Based on 2010-2014 data. View historical bedrooms data.

House Heating Fuel

	Novi, MI	Michigan	U.S.
Total Housing Units	23,001, 100%	3,827,880	116,211,092
Utility Gas	21,024, 91.40%, see rank	77.13%	48.85%
Bottled, Tank, or LP Gas	218, 0.95%, see rank	8.48%	4.86%
Electricity	1,624, 7.06%, see rank	8.30%	36.68%
Fuel Oil, Kerosene, etc.	45, 0.20%, see rank	1.40%	5.86%
Coal or Coke	0, 0.00%, see rank	0.03%	0.12%
Wood	44, 0.19%, see rank	3.39%	2.12%
Solar Energy	0, 0.00%, see rank	0.02%	0.05%
Other Fuel	46, 0.20%, see rank	0.86%	0.47%
No Fuel Used	0, 0.00%, see rank	0.39%	1.00%

*Based on 2010-2014 data. View historical house heating fuel data.

Gross Rent

Monthly Rental	Novi, MI	Michigan	U.S.
Occupied Units Paying Rent	7,621, 100%	1,028,835	39,201,928
$199 or Less	0, 0.00%, see rank	1.86%	1.50%
$200 to $299	0, 0.00%, see rank	3.88%	3.18%
$300 to $499	130, 1.71%, see rank	9.32%	7.37%
$500 to $699	478, 6.27%, see rank	23.63%	16.01%
$700 to $999	2,944, 38.63%, see rank	35.23%	29.17%
$1,000 to $1,499	2,005, 26.31%, see rank	20.17%	26.88%
$1,500 to $1,999	1,022, 13.41%, see rank	3.85%	9.79%
$2,000 or More	1,042, 13.67%, see rank	2.06%	6.10%
Median	$1,053, see rank	$780	$920

*Based on 2010-2014 data. View historical gross rent data.

Vehicle Available

	Novi, MI	Michigan	U.S.
Occupied Housing Units	23,001, 100%	3,827,880	116,211,092
No Vehicles Available	885, 3.85%, see rank	7.97%	9.12%
1 Vehicles Available	8,180, 35.56%, see rank	35.06%	33.80%
2 Vehicles Available	10,055, 43.72%, see rank	38.45%	37.48%
3 or More Vehicles Available	3,881, 16.87%, see rank	18.52%	19.61%

*Based on 2010-2014 data. View historical vehicle available data.