Zip 48375 (Novi, MI) Housing

Housing in 48375 Novi, MI has a median value of $347,600, which is slightly higher than the US median of $338,100. Over the course of one year, house appreciation in Novi has been 8.00%, only slightly lower than the national rate of 8.27%. This indicates that housing in Novi is holding its value well and could be a great investment for buyers looking for an area with a good real estate market.

The median home cost in Novi (zip 48375) is $347,600. Home appreciation the last 10 years has been 110.3%. Home Appreciation in Novi (zip 48375) is up 11.2%.

Average Age of Homes

- The median age of Novi (zip 48375) real estate is 35 years old

The Rental Market in Novi (zip 48375)

- Renters make up 30.9% of the Novi (zip 48375) population
- 0.8% of houses and apartments in Novi (zip 48375), are available to rent

DID YOU KNOW

Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.

Median Monthly Rent by Number of Bedrooms

Housing by Year Built

Housing	Novi, Michigan	United States
	10,186.0	139,647,020.0
	39	42
	$347,600	$338,100
	11.2%	16.6%
	45.5%	57.0%
	110.3%	101.1%
	$15.41	$10.98
	$4,560	$2,690
	66.9%	57.4%
	3.9%	11.2%
	29.3%	31.4%
Vacant Housing
	0.8%	1.9%
	0.6%	0.4%
	0.0%	0.7%
	0.5%	0.4%
	0.7%	3.6%
	1.3%	4.1%
Value of Owner-Occupied Housing
	2.5%	2.6%
	1.5%	2.4%
	0.0%	2.8%
	0.0%	3.9%
	1.6%	4.5%
	9.4%	11.3%
	9.9%	13.0%
	26.5%	20.1%
	25.2%	13.6%
	12.1%	8.3%
	11.0%	9.7%
	0.4%	3.9%
	0.0%	2.2%
	0.0%	0.8%
	0.0%	1.1%
Housing Units by Year Structure Built
	0.2%	0.2%
	9.0%	13.6%
	9.0%	13.6%
	18.5%	13.6%
	24.0%	13.2%
	32.7%	14.8%
	18.5%	13.6%
	5.8%	10.0%
	0.2%	4.7%
	0.9%	12.2%

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