Rent in Novi, MI
Across Novi's 4 ZIP codes, a 2-bedroom typically rents for about $1,823 a month, with figures from $1,459–$2,427. The highest typical rent is in 48374 ($2,309) and the lowest in 48377 ($1,626). Owner-occupied homes in Oakland County pay about 1.27% of their value a year in property tax, and the 30-year fixed mortgage rate averaged 7.24% in the week of Oct 29, 2026.
Rent by bedrooms
| Size | Typical | Range across ZIPs | ZIPs |
|---|---|---|---|
| Studio | $1,370 | $1,047–$1,570 | 4 |
| 1 bed | $1,499 | $1,167–$1,750 | 4 |
| 2 beds | $1,823 | $1,459–$2,427 | 4 |
| 3 beds | $2,325 | $1,777–$2,670 | 4 |
| 4 beds | $2,525 | $1,919–$3,297 | 4 |
Typical = median of each ZIP's best guess. Gross rent (rent plus tenant-paid utilities). Sources: HUD Small Area Fair Market Rents (Oct 1, 2026), Census ACS 5-year median gross rent (Dec 31, 2024) and HUD county Fair Market Rents (Oct 1, 2026).
Novi ZIP codes
2 bedsFrequently asked questions
- What is the average rent for a 2-bedroom in Novi, MI?
- About $1,823 a month: the median of the typical rents in 4 ZIP codes, which range from $1,459–$2,427. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 1-bedroom in Novi, MI?
- About $1,499 a month: the median of the typical rents in 4 ZIP codes, which range from $1,167–$1,750. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 3-bedroom in Novi, MI?
- About $2,325 a month: the median of the typical rents in 4 ZIP codes, which range from $1,777–$2,670. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a studio in Novi, MI?
- About $1,370 a month: the median of the typical rents in 4 ZIP codes, which range from $1,047–$1,570. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 4-bedroom in Novi, MI?
- About $2,525 a month: the median of the typical rents in 4 ZIP codes, which range from $1,919–$3,297. Figures are gross rent (rent plus tenant-paid utilities).
- Which Novi ZIP code has the highest rent?
- For a 2-bedroom, 48374 has the highest typical rent at $2,309 a month, and 48377 the lowest at $1,626.
- What is the property tax rate in Novi, MI?
- Owner-occupied homes in Oakland County pay a typical 1.27% of their value a year (Census ACS, median taxes paid ÷ median home value, Dec 31, 2024). Investors often pay more after a purchase: the home is reassessed at the sale price and there is no homestead exemption.
- What is the current 30-year mortgage rate?
- The 30-year fixed rate averaged 7.24% in the week of Oct 29, 2026 (Freddie Mac PMMS via FRED). It's a national average for owner-occupied loans; investment property loans usually cost more.
- Where do these Novi rent figures come from?
- HUD Small Area Fair Market Rents (Oct 1, 2026), Census ACS 5-year median gross rent (Dec 31, 2024) and HUD county Fair Market Rents (Oct 1, 2026).