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Rental Market Trends in Novi, MI

What is the average rent in Novi, MI?

$1,367/month

Average Rent

787 Sq Ft

Average Apartment Size

+1.9%

Increase in the Last Year

As of July 2025, the average rent in Novi, MI is $1,367 per month. This is 16% lower than the national average rent of $1,637/month, making renting in Novi more affordable than most cities in the US. When you rent an apartment in Novi, you can expect to pay about per month for a studio, $1,367 for a one-bedroom apartment, and around $1,825 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $2,593 or more.

Floor Plan Type
Average Rent
Average Sq Ft
One Bedroom
$1,367/month
787 Sq Ft
Two Bedroom
$1,825/month
1,121 Sq Ft
Three Bedroom
$2,593/month
1,673 Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Four Bedroom
$3,148/month
2,410 Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Two Bedroom
$1,947/month
1,310 Sq Ft
Three Bedroom
$3,078/month
1,999 Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft

How much has average rent changed in Novi, MI?

In the past year, rent has increased by 1.9%, which averages out to $27 more per month.

Market Trends Over Time   The chart below compares average rent prices to the previous year during the same time period.
Last Updated July 2025
Legend
2024 2025
Market Trends Over Time
Rent Ranges in Novi, MI
Last Updated July 2025
$1,501 - $2,000
Most rental prices fall within this range
Rent Ranges in Novi, MI
Percentage*
Rent Range
0% Below $700/month
0% $700 - $1,000/month
27% $1,001 - $1,500/month
36% $1,501 - $2,000/month
36% Above $2,000/month

Rent by Neighborhood

Last Updated Today
  • Most Affordable
  • Most Expensive
  • Most Available

What are the most affordable neighborhoods in Novi?

Based on current rent prices, Westgate, Chase Farms and Meadowbrook Glen are the most affordable neighborhoods in Novi.

Calculate Rent Affordability
Neighborhood
Average Rent
Average Sq Ft
Westgate
$1,306/month
722 Sq Ft
Chase Farms
$1,474/month
813 Sq Ft
Meadowbrook Glen
$1,592/month
852 Sq Ft
Fountain Park
$1,626/month
848 Sq Ft

What are the most expensive neighborhoods in Novi?

Based on current rent prices, Fountain Park, Meadowbrook Glen and Chase Farms are the most expensive neighborhoods in Novi.

Calculate Rent Affordability
Neighborhood
Average Rent
Average Sq Ft
Fountain Park
$1,626/month
848 Sq Ft
Meadowbrook Glen
$1,592/month
852 Sq Ft
Chase Farms
$1,474/month
813 Sq Ft
Westgate
$1,306/month
722 Sq Ft

Which Novi neighborhoods have the most rentals available?

The neighborhoods in Novi with the most apartments available are Chase Farms, Westgate and Meadowbrook Glen .

Calculate Rent Affordability
Neighborhood
Average Rent
Average Sq Ft
Chase Farms
$1,474/month
813 Sq Ft
Westgate
$1,306/month
722 Sq Ft
Meadowbrook Glen
$1,592/month
852 Sq Ft
Fountain Park
$1,626/month
848 Sq Ft
This information is based on data collected by CoStar Group researchers.†

What salary do I need to live comfortably in Novi, MI?

Because the average rent in Novi is $1,367, you’ll want to make about $4,556 per month or $54,672 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.

City

Novi, MI

876 Available Apartments for Rent

Search for Nearby Apartments

How does Novi, MI compare to other nearby cities and neighborhoods?

Use the tool below to compare Novi, MI to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.

Explore the Area Guide for Novi, MI

Apartment Averages

Westgate

Novi, MI

Fountain Park

Novi, MI

Studio
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One Bedroom
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Two Bedroom
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Three Bedroom
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Nearby City Rent Trends

  • Northville Average Rent
  • Walled Lake Average Rent
  • Farmington Average Rent
  • Farmington Hills Average Rent
  • Commerce Township Average Rent

Apartment communities in Novi we think you'll love

Innova

Innova

39500 Champion Cir,
Novi, MI 48377

1-3 Beds | $2,006 - $4,058

Edge at Novi - Novi, MI

Edge at Novi - Novi, MI

42101 Fountain Park Dr,
Novi, MI 48375

1-2 Beds | $1,474 - $1,849

Saddle Creek Apartments

Saddle Creek Apartments

43398 Citation,
Novi, MI 48375

1-2 Beds | $1,367 - $2,442

The Residence at Sakura Novi

The Residence at Sakura Novi

42750 Grand River Ave,
Novi, MI 48375

2-3 Beds | $2,495 - $3,250

Property Management Companies in Novi, MI

Singh Management
Singh Management
  • 16

    Communities

  • 3,572

    Units

  • 8

    Cities

8 Communities in Novi
Edward Rose & Sons
Edward Rose & Sons
  • 140

    Communities

  • 70,911

    Units

  • 85

    Cities

6 Communities in Novi
BEZTAK Properties
BEZTAK Properties
  • 102

    Communities

  • 24,190

    Units

  • 58

    Cities

4 Communities in Novi
KMG Prestige
KMG Prestige
  • 57

    Communities

  • 5,947

    Units

  • 37

    Cities

3 Communities in Novi
LR Management
LR Management
  • 63

    Communities

  • 14,162

    Units

  • 39

    Cities

2 Communities in Novi
M. Shapiro Development Company, LLC
M. Shapiro Development Company, LLC
  • 35

    Communities

  • 8,665

    Units

  • 27

    Cities

2 Communities in Novi
Burton Carol
Burton Carol
  • 27

    Communities

  • 5,674

    Units

  • 18

    Cities

2 Communities in Novi
Jacobson Brothers
Jacobson Brothers
  • 19

    Communities

  • 4,018

    Units

  • 15

    Cities

2 Communities in Novi

Learn More with Helpful Articles

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United States Michigan Novi Rental Trends

Methodology

† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.

Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.

Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in June 2025.

* Percentages may not total 100 due to rounding.

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Equal Housing Opportunity