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Cost of Living in Novi, MI

2025 Affordability Data & Housing Costs

110.0

Cost of Living Index (100 = US Average)

Expensive

Median Home Value

$399,100

Owner-occupied homes (2023 ACS)

Median Household Income

$110,938

Annual (2023 ACS)

Housing Costs

The median home value in Novi is $399,100, which is higher than the national average. The home price-to-income ratio is 3.6, indicating strong affordability.

Income & Purchasing Power

The median household income in Novi is $110,938 annually.

Compare with Other Cities

View all cities in Michigan

Frequently Asked Questions

What is the cost of living index in Novi, MI?

The COL index is 110.0, which is higher than the US average of 100.

What is the median home value in Novi?

The median home value is $399,100.

What is the median rent in Novi?

Data not available.

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