Novi, MI is a vibrant community located in Oakland County. With a population of 48,375 as of 2019, Novi is the 8th largest city in Michigan. It has a diverse economy with major employers in the area including TownePlace Suites by Marriott, Amazon Fulfillment Center, and Shiloh Industries. The 2 bedroom rent in Novi is $1,810 which is much higher than the US average of $1,430. The area also has an above average grocery cost index of 99 compared to the national average of 100. With its strong economy and excellent job market Novi continues to be an attractive place to live for those looking for an affordable city close to Detroit and other nearby metro areas.
Novi (zip 48375) has an unemployment rate of 2.4%. The US average is 6.0%.
Novi (zip 48375) has seen the job market decrease by -10.6% over the last year. Future job growth over the next ten years is predicted to be 41.1%, which is higher than the US average of 33.5%.
Tax Rates for Novi (zip 48375)
- The Sales Tax Rate for Novi (zip 48375) is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Novi (zip 48375) is 4.3%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Novi (zip 48375)
- The average income of a Novi (zip 48375) resident is $54,751 a year. The US average is $37,638 a year.
- The Median household income of a Novi (zip 48375) resident is $101,812 a year. The US average is $69,021 a year.