{
  "schema_version": "1.0",
  "submarket": {
    "slug": "novi-mi",
    "name": "Novi",
    "state": "MI",
    "city": "NOVI",
    "cbsa": "Detroit-Warren-Dearborn",
    "zip_codes": [
      "48374",
      "48375",
      "48377"
    ]
  },
  "report": {
    "yearmonth": "202604",
    "month_label": "April 2026",
    "first_published_at": "2026-04-20T00:52:59.847Z",
    "last_updated_at": "2026-06-02T13:43:25.931Z"
  },
  "rents": {
    "apartment": {
      "1br": {
        "median": 1295,
        "low": 1243,
        "high": 1346,
        "mom_pct": -0.7429787234042553,
        "yoy_pct": 6.849999999999999
      },
      "2br": {
        "median": 1588,
        "low": 1508,
        "high": 1667,
        "mom_pct": 0.7973184357541904,
        "yoy_pct": 3.749832402234637
      },
      "3br": {
        "median": 1979,
        "low": 1942,
        "high": 2072,
        "mom_pct": -0.12551724137931033,
        "yoy_pct": 3.953793103448276
      },
      "4br": {
        "median": 2133,
        "low": 2094,
        "high": 2201,
        "mom_pct": 0.40076923076923077,
        "yoy_pct": 4.859230769230769
      }
    },
    "condo_townhome": {
      "1br": {
        "median": 1313,
        "low": 1285,
        "high": 1342,
        "mom_pct": 0.6633333333333333,
        "yoy_pct": 4.926666666666666
      },
      "2br": {
        "median": 1925,
        "low": 1857,
        "high": 1992,
        "mom_pct": 5.814400000000001,
        "yoy_pct": 8.6728
      },
      "3br": {
        "median": 2270,
        "low": 2198,
        "high": 2343,
        "mom_pct": -0.5149999999999999,
        "yoy_pct": 3.4579999999999997
      },
      "4br": {
        "median": 2418,
        "low": 2357,
        "high": 2478,
        "mom_pct": 0.7233333333333333,
        "yoy_pct": 2.0833333333333335
      }
    },
    "single_family": {
      "1br": {
        "median": 1265,
        "low": 1250,
        "high": 1293,
        "mom_pct": 0.8000000000000002,
        "yoy_pct": 5.15
      },
      "2br": {
        "median": 1616,
        "low": 1566,
        "high": 1667,
        "mom_pct": 1.9720000000000002,
        "yoy_pct": 5.6433333333333335
      },
      "3br": {
        "median": 2015,
        "low": 1964,
        "high": 2065,
        "mom_pct": -2.808571428571429,
        "yoy_pct": 1.5550000000000004
      },
      "4br": {
        "median": 2567,
        "low": 2465,
        "high": 2670,
        "mom_pct": 3.336,
        "yoy_pct": 7.157333333333333
      }
    }
  },
  "vacancy": 3.7743,
  "days_on_market": {
    "apartment": 30,
    "condo_townhome": 30,
    "single_family": 27
  },
  "ai_summary": [
    {
      "headline": "2BR condos post 8.67% annual gain",
      "body": "In the Novi (48374, 48375, 48377) rental market, 2-bedroom condos and townhomes reached a median rent of $1,925 for April 2026, rising 5.81% month-over-month and 8.67% year-over-year. These increases are the highest among all 2-bedroom segments in the current data set."
    },
    {
      "headline": "3BR single-family homes fall 2.81% MoM",
      "body": "Across Novi (48374, 48375, 48377), 3-bedroom single-family homes saw a pronounced month-over-month decrease, dropping 2.81% to $2,015. By contrast, 3-bedroom apartments slipped only 0.13%, settling at $1,979 for the reporting period."
    },
    {
      "headline": "4BR apartments lag homes by $434",
      "body": "Analysis of Novi (48374, 48375, 48377) rental trends shows 4-bedroom apartments at $2,133 lagging behind single-family homes, which command $2,567—a gap of $434. 4-bedroom condos register a median rent of $2,418, positioned between apartments and single-family homes for larger units."
    }
  ],
  "summary": {
    "canonical": [
      "As of April 2026, rental prices in Novi, MI range from $1,265 to $2,567 per month depending on property type and bedroom count.",
      "The most notable year-over-year change is a 8.67% increase for 2BR condo/townhome units in Novi, MI.",
      "For 1BR units, condos/townhomes have a median rent of $1,313 while apartments rent for $1,295."
    ],
    "qa": [
      {
        "question": "What are the current rent prices in Novi, MI and how do they vary?",
        "answer": "As of April 2026, Novi, MI rents range from $1,265 per month for 1BR single-family homes to $2,567 per month for 4BR single-family properties, depending on property type and bedroom count."
      },
      {
        "question": "Which is the most expensive rental option in Novi, MI right now?",
        "answer": "The highest median rent in Novi, MI for April 2026 is $2,567 for 4BR single-family homes."
      },
      {
        "question": "How much more does a single-family home cost compared to an apartment for the same number of bedrooms in Novi, MI?",
        "answer": "In April 2026, 4BR single-family homes rent for $2,567 while 4BR apartments rent for $2,133, a premium gap of $434 per month."
      },
      {
        "question": "What is the most affordable rental segment in Novi, MI for April 2026?",
        "answer": "The lowest median rent in Novi, MI is $1,265 for 1BR single-family homes."
      }
    ]
  },
  "history": [
    {
      "yearmonth": "202604",
      "month_label": "April 2026",
      "rents": {
        "apartment": {
          "1br": 1295,
          "2br": 1588,
          "3br": 1979,
          "4br": 2133
        },
        "condo_townhome": {
          "1br": 1313,
          "2br": 1925,
          "3br": 2270,
          "4br": 2418
        },
        "single_family": {
          "1br": 1265,
          "2br": 1616,
          "3br": 2015,
          "4br": 2567
        }
      }
    },
    {
      "yearmonth": "202603",
      "month_label": "March 2026",
      "rents": {
        "apartment": {
          "1br": 1305,
          "2br": 1576,
          "3br": 1982,
          "4br": 2125
        },
        "condo_townhome": {
          "1br": 1304,
          "2br": 1822,
          "3br": 2268,
          "4br": 2400
        },
        "single_family": {
          "1br": 1255,
          "2br": 1582,
          "3br": 2090,
          "4br": 2459
        }
      }
    },
    {
      "yearmonth": "202602",
      "month_label": "February 2026",
      "rents": {
        "apartment": {
          "1br": 1300,
          "2br": 1584,
          "3br": 1988,
          "4br": 2140
        },
        "condo_townhome": {
          "1br": 1302,
          "2br": 1835,
          "3br": 2262,
          "4br": 2410
        },
        "single_family": {
          "1br": 1255,
          "2br": 1591,
          "3br": 2106,
          "4br": 2515
        }
      }
    },
    {
      "yearmonth": "202601",
      "month_label": "January 2026",
      "rents": {
        "apartment": {
          "1br": 1287,
          "2br": 1615,
          "3br": 2003,
          "4br": 2149
        },
        "condo_townhome": {
          "1br": 1306,
          "2br": 1797,
          "3br": 2254,
          "4br": 2432
        },
        "single_family": {
          "1br": 1259,
          "2br": 1588,
          "3br": 2116,
          "4br": 2503
        }
      }
    },
    {
      "yearmonth": "202512",
      "month_label": "December 2025",
      "rents": {
        "apartment": {
          "1br": 1291,
          "2br": 1624,
          "3br": 2012,
          "4br": 2160
        },
        "condo_townhome": {
          "1br": 1317,
          "2br": 1815,
          "3br": 2288,
          "4br": 2454
        },
        "single_family": {
          "1br": 1268,
          "2br": 1603,
          "3br": 2125,
          "4br": 2504
        }
      }
    },
    {
      "yearmonth": "202511",
      "month_label": "November 2025",
      "rents": {
        "apartment": {
          "1br": 1296,
          "2br": 1628,
          "3br": 2024,
          "4br": 2174
        },
        "condo_townhome": {
          "1br": 1326,
          "2br": 1861,
          "3br": 2301,
          "4br": 2476
        },
        "single_family": {
          "1br": 1277,
          "2br": 1614,
          "3br": 2138,
          "4br": 2515
        }
      }
    },
    {
      "yearmonth": "202510",
      "month_label": "October 2025",
      "rents": {
        "apartment": {
          "1br": 1291,
          "2br": 1623,
          "3br": 2020,
          "4br": 2167
        },
        "condo_townhome": {
          "1br": 1330,
          "2br": 1858,
          "3br": 2301,
          "4br": 2499
        },
        "single_family": {
          "1br": 1279,
          "2br": 1617,
          "3br": 2153,
          "4br": 2529
        }
      }
    },
    {
      "yearmonth": "202509",
      "month_label": "September 2025",
      "rents": {
        "apartment": {
          "1br": 1284,
          "2br": 1605,
          "3br": 2009,
          "4br": 2153
        },
        "condo_townhome": {
          "1br": 1328,
          "2br": 1835,
          "3br": 2307,
          "4br": 2505
        },
        "single_family": {
          "1br": 1278,
          "2br": 1613,
          "3br": 2146,
          "4br": 2524
        }
      }
    },
    {
      "yearmonth": "202508",
      "month_label": "August 2025",
      "rents": {
        "apartment": {
          "1br": 1276,
          "2br": 1594,
          "3br": 1999,
          "4br": 2134
        },
        "condo_townhome": {
          "1br": 1324,
          "2br": 1807,
          "3br": 2280,
          "4br": 2492
        },
        "single_family": {
          "1br": 1271,
          "2br": 1604,
          "3br": 2119,
          "4br": 2504
        }
      }
    },
    {
      "yearmonth": "202507",
      "month_label": "July 2025",
      "rents": {
        "apartment": {
          "1br": 1263,
          "2br": 1581,
          "3br": 1987,
          "4br": 2109
        },
        "condo_townhome": {
          "1br": 1312,
          "2br": 1815,
          "3br": 2269,
          "4br": 2472
        },
        "single_family": {
          "1br": 1258,
          "2br": 1591,
          "3br": 2101,
          "4br": 2476
        }
      }
    },
    {
      "yearmonth": "202506",
      "month_label": "June 2025",
      "rents": {
        "apartment": {
          "1br": 1249,
          "2br": 1563,
          "3br": 1962,
          "4br": 2084
        },
        "condo_townhome": {
          "1br": 1293,
          "2br": 1803,
          "3br": 2231,
          "4br": 2439
        },
        "single_family": {
          "1br": 1241,
          "2br": 1574,
          "3br": 2060,
          "4br": 2443
        }
      }
    },
    {
      "yearmonth": "202505",
      "month_label": "May 2025",
      "rents": {
        "apartment": {
          "1br": 1231,
          "2br": 1542,
          "3br": 1932,
          "4br": 2056
        },
        "condo_townhome": {
          "1br": 1271,
          "2br": 1763,
          "3br": 2203,
          "4br": 2408
        },
        "single_family": {
          "1br": 1221,
          "2br": 1550,
          "3br": 2024,
          "4br": 2414
        }
      }
    }
  ],
  "links": {
    "data_page": "https://data.estaite.com/submarkets/novi-mi/",
    "self": "https://data.estaite.com/feeds/novi-mi.json"
  },
  "license": "CC BY 4.0",
  "license_url": "https://creativecommons.org/licenses/by/4.0/",
  "attribution": "Data provided by Estaite (https://estaite.com)"
}