Edge at Novi - Novi, MI
42101 Fountain Park Dr,
Novi, MI 48375
1-2 Beds | $1,474 - $1,849
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
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average 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
Rent Ranges in Novi, MI
Last Updated July 2025
$1,501 - $2,000
Most rental prices fall within this range
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
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.
Neighborhood
Average Rent
Average 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.
Neighborhood
Average Rent
Average 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 .
Neighborhood
Average Rent
Average Sq Ft
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.
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.
Studio
-
-
One Bedroom
-
-
Two Bedroom
-
-
Three Bedroom
-
-
Nearby City Rent Trends
Apartment communities in Novi we think you'll love
Property Management Companies in Novi, MI
Singh Management
-
16
Communities
-
3,572
Units
-
8
Cities
8 Communities in Novi
Edward Rose & Sons
-
140
Communities
-
70,911
Units
-
85
Cities
6 Communities in Novi
BEZTAK Properties
-
102
Communities
-
24,190
Units
-
58
Cities
4 Communities in Novi
KMG Prestige
-
57
Communities
-
5,947
Units
-
37
Cities
3 Communities in Novi
LR Management
-
63
Communities
-
14,162
Units
-
39
Cities
2 Communities in Novi
M. Shapiro Development Company, LLC
-
35
Communities
-
8,665
Units
-
27
Cities
2 Communities in Novi
Burton Carol
-
27
Communities
-
5,674
Units
-
18
Cities
2 Communities in Novi
Jacobson Brothers
-
19
Communities
-
4,018
Units
-
15
Cities
2 Communities in Novi
Learn More with Helpful Articles
Rental management, simplified
Our all-in-one suite of property manangement software makes the rental process easy. Screen tenants, manage payments, and more – all on Apartments.com
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.