Novi, MI
Population 66,224 · Michigan
About Novi, MI
Novi is a mid-sized city located in Michigan with a population of 66,224 residents according to the latest US Census Bureau American Community Survey data. The median household income is $110,938 per year, which is 48% above the national median of $75,149. The median age of 39.9 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Novi features a median home value of $399,100, which is 63% above the national median of $244,900. This places Novi in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $1,696, 46% above the national average of $1,163/month. Of the 27,934 total housing units, 68% are owner-occupied (18,008 units) and 32% are renter-occupied (8,466 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Novi shows an unemployment rate of 3.8%, which is near the national rate of 3.7%. The poverty rate stands at 4.7%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Novi have an average one-way commute time of 26.3 minutes.
Education & Demographics
61.2% of Novi residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This significantly higher educational attainment rate often correlates with access to knowledge-economy jobs and higher household incomes. The community's demographic composition includes 3.4% White, 0.6% Hispanic or Latino, 0.2% Black or African American, and 1.1% Asian residents, with 27.4% of the population being foreign-born.
How Novi Ranks in Michigan
Cost of Living in Novi, MI
Compared to national averages, Novi has a median household income of $110,938 (48% above the national median of $75,149). Home values average $399,100, which is 63% above the national median. Monthly rent at $1,696 is 46% above the US average of $1,163. Within Michigan, Novi's income is 68% above the state average of $66,017, and home values are 118% above the state median of $183,391.
Why Live in Novi, MI?
Novi offers a strong local economy with a median household income of $110,938, well above the national average, and a well-educated community where 61.2% of residents hold a bachelor’s degree or higher, and a low poverty rate of 4.7%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $399,100. However, as a mid-sized city, Novi provides access to a wide range of amenities and services.
Novi has a population of 66,224 with a median age of 39.9 years. Compare Novi with other cities to see how it stacks up, or explore all cities in Michigan.
Similar Cities Near Novi
Cities in Michigan with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Taylor | 62,405 | $59,537 | $141,200 | Compare |
| Dearborn Heights | 62,099 | $61,035 | $174,900 | Compare |
| Pontiac | 61,914 | $42,791 | $110,600 | Compare |
| Kalamazoo | 73,132 | $48,965 | $164,500 | Compare |
| St. Clair Shores | 58,287 | $72,693 | $196,400 | Compare |
| Royal Oak | 57,880 | $95,182 | $305,900 | Compare |
| Southfield | 76,025 | $65,848 | $226,900 | Compare |
| Rochester Hills | 76,086 | $119,054 | $377,400 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Michigan
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Novi With Other Cities
Frequently Asked Questions about Novi
What is the population of Novi, MI?
The population of Novi, MI is 66,224 according to the latest US Census Bureau American Community Survey estimates. This makes it a mid-sized city in Michigan.
What is the median household income in Novi?
The median household income in Novi, MI is $110,938 per year, which is 48% above the national median of $75,149.
What is the median home value in Novi?
The median home value in Novi, MI is $399,100, which is 63% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Novi?
The median monthly rent in Novi, MI is $1,696, which is 46% above the national average of $1,163/month.
What is the unemployment rate in Novi?
The unemployment rate in Novi, MI is 3.8%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Novi, MI a good place to live?
Novi offers above-average incomes, a competitive housing market, and growing employment opportunities. With a population of 66,224 and a median age of 39.9, the city appeals to a broad range of residents.
How educated is Novi, MI?
61.2% of residents in Novi aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Novi?
Key cost-of-living indicators for Novi, MI: median home value is $399,100 (63% above national), median rent is $1,696/month, and median household income is $110,938. The home-value-to-income ratio is 3.6x, a moderate figure by national standards.
What is the poverty rate in Novi?
The poverty rate in Novi, MI is 4.7%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Novi, MI?
Novi's population is 3.4% White, 0.6% Hispanic or Latino, 0.2% Black or African American, 1.1% Asian, and 8.3% two or more races. 27.4% of residents are foreign-born.