Novi, MI is a city located in Oakland County in the state of Michigan. It is part of the Detroit metropolitan area and located about 20 miles northwest of the city. The city has a population of nearly 55,000 and is one of the fastest growing cities in the state.
The rental market in Novi is quite strong, with a range of properties available for rent. The average rent for a one-bedroom apartment is $1,021 per month and the average rent for a two-bedroom apartment is $1,211 per month. There are also a variety of single-family homes, townhomes, and condos available for rent, with prices ranging from $1,000 to $2,500 per month.
When it comes to choosing the best neighborhood in Novi for renters, there are several factors to consider. The city is divided into several distinct neighborhoods, each with its own unique vibe and amenities. Some of the most desirable neighborhoods in Novi include Walled Lake, Novi Woods, and Meadowbrook. These neighborhoods offer a variety of housing options, ranging from single-family homes and townhomes to condos and apartments. Many of these neighborhoods also feature excellent schools, shops, restaurants, and other amenities.
The average rental price of an apartment in Novi, MI is $1,228 per month. The average rental price of a townhouse in Novi, MI is $1,455 per month. The average rental price of a condo in Novi, MI is $1,362 per month. The average rental price of a loft in Novi, MI is $1,438 per month. The average rental price of a single family home in Novi, MI is $1,717 per month.
Rental prices in Novi, MI have increased steadily over the past 5 years. In 2016, the average rental rate for a one-bedroom apartment was $1,084, while in 2021, the average rental rate for a one-bedroom apartment is $1,283, representing a 18.1% increase in rental prices. Similarly, the average rental rate for a two-bedroom apartment in 2016 was $1,227, while in 2021, the average rental rate for a two-bedroom apartment is $1,418, representing a 15.6% increase in rental prices.
The median rental price for 1-bedroom apartments in Novi, MI is $1,350. The median rental price for 2-bedroom apartments in Novi, MI is $1,700. The median rental price for 3-bedroom apartments in Novi, MI is $1,995.
Novi is a fairly affluent city in the state of Michigan and its school districts compare favorably to the national average. According to the most recent data, the Novi Community School District has an average graduation rate of 97.3%, which is much higher than the national average of 84.6%. The district also has a student-teacher ratio of 17:1, which is significantly lower than the national average of 16.1:1. Additionally, the district spends an average of $11,717 per student, which is higher than the national average of $11,442. In terms of test scores, Novi students typically score at or above the national average.
1. Wixom
2. Novi Town Center
3. Novi Meadows
4. Walled Lake
5. Twelve Oaks Mall Area
1. Northville Hills Golf Club
2. Stonewater
3. Island Lake Estates
4. Crosswinds
5. Willow Creek Estates