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Novi, MI Housing

 
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As of 2010-2014, median price of a house in Novi is $235,600, which is much higher than the state average of $120,200 and is higher than the national average of $175,700. The Novi median house value has shrunk by 0.30% since 2000. The growth rate for the price of a house in Novi is lower than the state average rate of 3.98% and is much lower than the national average rate of 46.91%. The median year that a house in Novi was built is 1989, which is newer than the median year for a house built in the state which is 1969 and is newer than the median year for a house built in the USA which is 1976.

Topics:House ValueHousing OccupancyYear Structure BuiltMortgage StatusMortgage Owner's CostsNone-Mortgage Owner's CostsUnits in StructureRoomsBedroomsHouse Heating FuelGross RentVehicle Available

House Value

Median Value of a Total of 15,148 Owner Occupied Houses in Novi, MI, #33
Novi, MI
235,600 USD
Michigan
120,200 USD
U.S.
175,700 USD
Median House Price Growth Since 2000, #400
Novi, MI
-0.30%
Michigan
3.98%
U.S.
46.91%
Ranks: $50K or Less, $50-100K, $100-150K, $150-200K, $200-300K, $300-500K, $500-1M, $1M or More

*Based on 2010-2014 data. View historical house value data.

Housing Occupancy

 Novi, MIMichiganU.S.
Total Housing Units24,303, see rank, 100%4,532,719132,741,033
Occupied Housing Units23,001, 94.64%, see rank84.45%87.55%
Owner Occupied15,148, 62.33%, see rank60.41%56.34%
Renter Occupied7,853, 32.31%, see rank24.04%31.21%
Vacant Housing Units1,302, 5.36%, see rank15.55%12.45%
For Rent385, 1.58%, see rank1.84%2.34%
For Sale Only178, 0.73%, see rank1.40%1.20%
Rented or Sold, Not Occupied202, 0.83%, see rank1.04%0.92%
For Seasonal, Recreational, or Occasional Use51, 0.21%, see rank6.26%3.97%
For Migrant Workers0, 0.00%, see rank0.05%0.03%
Other Vacant486, 2.00%, see rank4.96%4.00%

*Based on 2010-2014 data. View historical housing occupancy data.

Year Structure Built

Median Built Year, #19
Novi, MIMichiganU.S.
198919691976

Ranks: 1995 or earlier, 1960-1969, 1970-1979, 1980-1989, 1990-2000, 2000-2010

*Based on 2010-2014 data. View historical year structure built data.

Mortgage Status

 Novi, MI%MichiganU.S.
Owner-Occupied Units15,148100%2,738,01274,787,460
With a Mortgage10,69570.60%, see rank63.63%65.58%
Without a Mortgage4,45329.40%, see rank36.37%34.42%

*Based on 2010-2014 data. View historical mortgage status data.

Monthly Owner Costs for Housing Units with a Mortgage


Median Owner Costs, see rank
Novi, MI
2,014 USD
Michigan
1,295 USD
U.S.
1,522 USD

Owner Costs Distribution
Monthly Owner CostsNovi, MI%MichiganU.S.
$299 or Less200.19%, see rank0.19%0.20%
$300 to $4991020.95%, see rank1.88%1.59%
$500 to $6992061.93%, see rank6.65%5.01%
$700 to $9997146.68%, see rank19.56%14.32%
$1,000 to $1,4992,03719.05%, see rank34.69%27.90%
$1,500 to $1,9992,20720.64%, see rank20.06%20.35%
$2,000 to $2,9993,29630.82%, see rank12.84%19.52%
$3,000 or More2,11319.76%, see rank4.13%11.12%

Owner Cost as a Percentage of the Total Income, Median Percentage, see rank
Novi, MI
20.00% of the Total Income
Michigan
22.60% of the Total Income
U.S.
23.70% of the Total Income

Owner Cost as a Percentage of the Total Income, Distribution
 Novi, MI%MichiganU.S.
10% or Less8337.79%, see rank5.90%5.86%
10% to 20%4,51342.20%, see rank35.28%31.95%
20% to 30%2,98527.91%, see rank27.51%27.64%
30% to 40%1,0689.99%, see rank12.63%13.74%
40% or More1,28612.02%, see rank18.20%20.29%

*Based on 2010-2014 data. View historical monthly owner costs for housing units with a mortgage data.

Monthly Owner Costs for Housing Units without a Mortgage


Median Owner Costs, see rank
Novi, MI
650 USD
Michigan
463 USD
U.S.
457 USD

Owner Costs Distribution
Monthly Owner CostsNovi, MI%MichiganU.S.
$199 or Less2565.75%, see rank4.74%7.76%
$200 to $2992154.83%, see rank12.46%14.70%
$300 to $49967515.16%, see rank40.41%34.63%
$500 to $6991,55234.85%, see rank25.95%21.16%
$700 or More1,75539.41%, see rank16.44%21.75%

Owner Cost as a Percentage of the Total Income, Median Percentage, see rank
Novi, MI
13.20% of the Total Income
Michigan
13.40% of the Total Income
U.S.
12.30% of the Total Income

Owner Cost as a Percentage of the Total Income, Distribution
 Novi, MI%MichiganU.S.
10% or Less1,70538.29%, see rank35.33%40.19%
10% to 20%1,28528.86%, see rank33.76%31.47%
20% to 30%65714.75%, see rank13.39%12.24%
30% to 40%3227.23%, see rank6.18%5.64%
40% or More48410.87%, see rank9.99%9.16%

*Based on 2010-2014 data. View historical monthly owner costs for housing units without a mortgage data.

Units in Structure

 Novi, MIMichiganU.S.
Total Housing Units24,303, 100%4,532,719132,741,033
1-unit, Detached12,085, 49.73%, see rank71.97%61.65%
1-unit, Attached2,913, 11.99%, see rank4.66%5.82%
2 Units324, 1.33%, see rank2.58%3.75%
3 or 4 Units1,315, 5.41%, see rank2.56%4.43%
5 to 9 Units2,141, 8.81%, see rank4.20%4.78%
10 or More Units4,297, 17.68%, see rank8.58%13.08%
Mobile Home, Boat, RV, Van, etc.1,228, 5.05%, see rank5.45%6.49%

*Based on 2010-2014 data. View historical units in structure data.

Rooms

 Novi, MIMichiganU.S.
Total Housing Units24,303, 100%4,532,719132,741,033
1 Room130, 0.53%, see rank1.24%1.95%
2 Rooms471, 1.94%, see rank1.78%2.48%
3 Rooms2,529, 10.41%, see rank7.14%9.13%
4 Rooms4,437, 18.26%, see rank14.38%16.60%
5 Rooms3,698, 15.22%, see rank21.00%20.41%
6 Rooms3,062, 12.60%, see rank20.07%18.06%
7 Rooms2,666, 10.97%, see rank13.45%12.27%
8 Rooms2,619, 10.78%, see rank9.27%8.48%
9 Rooms or More4,691, 19.30%, see rank11.67%10.60%
Median Rooms5.80, see rank5.705.50

*Based on 2010-2014 data. View historical rooms data.

Bedrooms

 Novi, MIMichiganU.S.
Total Housing Units24,303, 100%4,532,719132,741,033
No Bedroom160, 0.66%, see rank1.35%2.17%
1 Bedroom2,988, 12.29%, see rank9.11%11.16%
2 Bedrooms7,139, 29.37%, see rank26.33%26.69%
3 Bedrooms6,543, 26.92%, see rank43.93%39.70%
4 Bedrooms6,697, 27.56%, see rank15.80%16.05%
5 or More Bedrooms776, 3.19%, see rank3.47%4.22%

*Based on 2010-2014 data. View historical bedrooms data.

House Heating Fuel

 Novi, MIMichiganU.S.
Total Housing Units23,001, 100%3,827,880116,211,092
Utility Gas21,024, 91.40%, see rank77.13%48.85%
Bottled, Tank, or LP Gas218, 0.95%, see rank8.48%4.86%
Electricity1,624, 7.06%, see rank8.30%36.68%
Fuel Oil, Kerosene, etc.45, 0.20%, see rank1.40%5.86%
Coal or Coke0, 0.00%, see rank0.03%0.12%
Wood44, 0.19%, see rank3.39%2.12%
Solar Energy0, 0.00%, see rank0.02%0.05%
Other Fuel46, 0.20%, see rank0.86%0.47%
No Fuel Used0, 0.00%, see rank0.39%1.00%

*Based on 2010-2014 data. View historical house heating fuel data.

Gross Rent

Monthly RentalNovi, MIMichiganU.S.
Occupied Units Paying Rent7,621, 100%1,028,83539,201,928
$199 or Less0, 0.00%, see rank1.86%1.50%
$200 to $2990, 0.00%, see rank3.88%3.18%
$300 to $499130, 1.71%, see rank9.32%7.37%
$500 to $699478, 6.27%, see rank23.63%16.01%
$700 to $9992,944, 38.63%, see rank35.23%29.17%
$1,000 to $1,4992,005, 26.31%, see rank20.17%26.88%
$1,500 to $1,9991,022, 13.41%, see rank3.85%9.79%
$2,000 or More1,042, 13.67%, see rank2.06%6.10%
Median$1,053, see rank$780$920

*Based on 2010-2014 data. View historical gross rent data.

Vehicle Available

 Novi, MIMichiganU.S.
Occupied Housing Units23,001, 100%3,827,880116,211,092
No Vehicles Available885, 3.85%, see rank7.97%9.12%
1 Vehicles Available8,180, 35.56%, see rank35.06%33.80%
2 Vehicles Available10,055, 43.72%, see rank38.45%37.48%
3 or More Vehicles Available3,881, 16.87%, see rank18.52%19.61%

*Based on 2010-2014 data. View historical vehicle available data.


 
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