Novi township, MI Cost of Living


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How much do I need to live in Novi township, Michigan?
$8,880 / month
for a family, 64.4% more expensive than the national average A total of $106,560 for the year for a family.
$4,267 / month
for a single person, 10.5% less expensive than the national average A total of $51,200 for the year for a single person.

Novi township cost of living score
104.9
More expensive
4.9% higher
than the US average
14.6% higher
than the Michigan average
Novi township, Michigan gets a BestPlaces Cost of Living score of 104.9, which means the total cost of housing, food, childcare, transportation, healthcare, taxes, and other necessities is 4.9% higher than the U.S. average and 14.6% higher than the average for Michigan.

Novi township, MI

Housing costs in Novi township?
A typical home costs $556,300, which is 64.5% more expensive than the national average of $338,100 and 154.4% more expensive than the average Michigan home, at $218,700. Renting a two-bedroom unit in Novi township costs $1,630 per month, which is 14.0% more than the national average of $1,430 and 32.5% more than the state average of $1,100.

Can I afford Novi township?
To live comfortably in Novi township, Michigan, a minimum annual income of $106,560 for a family, and $51,200 for a single person is recommended.

What does A.I. say about Novi township?
Novi Township, MI is generally considered an affordable place to live. According to BestPlaces, the cost of living index in Novi is currently 74.13, which is 5% lower than the Michigan average and 4% lower than the national average. This means that groceries, housing costs, utilities, transportation and other essential services are relatively inexpensive in comparison to the rest of the state. Additionally, housing costs tend to be quite reasonable in Novi Township as well. The median home value is $385,400 USD and rentals are typically around $1,200 USD per month for a one bedroom apartment. Overall, Novi Township has a very low cost of living compared to many other places in Michigan and across the country.
   Cost of living score
       Higher than 100 is more expensive than the national average.
       Lower than 100 is less expensive.
     CategoriesNovi townshipMichiganUnited States
    Unlock91.5100.0
  101.5  Unlock100.0
    Unlock84.8100.0
  184.7  Unlock100.0
    Unlock$218,700$338,100
  99.4  Unlock100.0
    Unlock115.1100.0
  125.6  Unlock100.0

   100=National Average

   Average Rent by Bedroom Size
Crime
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