Housing in Novi, Michigan
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Housing - Updated September, 2011
| Median Home Age | 21 | 35.1 |
| Median Home Cost | $234,100 | $175,100 |
| Home Appreciation | -3.79% | -3.15% |
| Homes Owned | 66.70% | 59.90% |
| Housing Vacant | 7.13% | 10.37% |
| Homes Rented | 26.17% | 29.73% |
| Property Tax Rate | $13.73 | $11.20 |
OWNER-OCCUPIED HOUSING UNITS BY VALUE
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| Less Than $20,000 | 6.03% | 2.65% |
| $20,000 to $39,999 | 4.41% | 3.76% |
| $40,000 to $59,999 | 1.56% | 4.99% |
| $60,000 to $79,999 | 1.31% | 6.01% |
| $80,000 to $99,999 | 2.76% | 7.27% |
| $100,000 to $149,999 | 11.20% | 19.24% |
| $150,000 to $199,999 | 13.47% | 14.67% |
| $200,000 to $299,999 | 28.14% | 18.09% |
| $300,000 to $399,999 | 15.14% | 9.14% |
| $400,000 to $499,999 | 8.25% | 4.94% |
| $500,000 to $749,999 | 6.35% | 5.42% |
| $750,000 to $999,999 | 1.04% | 2.03% |
| $1,000,000 or more | 0.32% | 1.77% |
HOUSING UNITS BY YEAR STRUCTURE BUILT
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| 1999 to 2005 | 20.23% | 13.71% |
| 1995 to 1998 | 10.80% | 8.54% |
| 1990 to 1994 | 17.41% | 5.77% |
| 1980 to 1989 | 20.06% | 13.87% |
| 1970 to 1979 | 22.43% | 16.17% |
| 1960 to 1969 | 3.61% | 11.70% |
| 1950 to 1959 | 3.42% | 11.08% |
| 1940 to 1949 | 0.63% | 6.02% |
| 1939 or Earlier | 1.40% | 13.15% |
The median home value in Novi, MI, is $234,100. Home appreciation is -3.79% over the last year. The median age of Novi, MI, real estate is 21 years.
Novi, MI Apartments and Rentals
Renters make up 26.17% of the Novi, MI, population. 7.13% of houses and apartments in Novi, MI, are unoccupied (vacancy rate).
Novi Housing SperlingViews
I Enjoy Living in Novi: We moved in here in Dec'06 and bought a nice villa condo in Island Lake of Novi. It is a nice sub and enjoy living here. There are nice shopping and recreation... (read more)Upper-Middle Class Suburbia: Overall, Novi is a great place for those who are looking for a city that has the advantages of a very big city (good night life, many restaurants/coffee shops/ect.,... (read more)Range of seasons: Spring is beautiful, mild days, cool nights; Summer can be mild to very hot with moderate to high humidity; Autumn is mild usually until the end of October; Winters can... (read more)Have an opinion about Novi? Leave a commentTo See All SperlingViews for Novi Click Here
