Average Rent in Novi, MI

Novi rentals average $0 for a 1-bedroom rental to $4,200 for a 4-bedroom rental. The median price of all currently available listings is $2,400, or roughly $2 per square feet.

For the apartment units and housing in April 2024, median rents have fallen substantiallyover the last year. Studio rentals prices have decreased by $521 (-40.98%) year-over-year from $1,271 to $750. 1-bedroom rentals prices have decreased by $453 (-23.21%) year-over-year from $1,953 to $1,500. 2-bedroom rentals prices have increased by $136 (6.76%) year-over-year from $2,014 to $2,150. 3-bedroom rentals prices have decreased by $24 (-0.99%) year-over-year from $2,449 to $2,425. 4-bedroom rentals prices have decreased by $598 (-15.35%) year-over-year from $3,898 to $3,300. Note that this figure includes all active and rented listings throughout the month.

Month-to-month, seasonality might have a bigger impact than overall trend price changes. Studio rents have gone down by 0.00% this month. 1-bedroom rents have gone down by 13.39% this month. 2-bedroom rents have gone up by 8.63% this month. 3-bedroom rents have gone down by 4.59% this month. 4-bedroom rents have gone up by 3.66% this month.