Farmington Hills / Novi, MI
June 2026
48331,48334,48374,48375
Long-term Rental Rates
Apartment
| Unit Type | Price | 1 Mo Change | 1 Yr Change |
|---|---|---|---|
| 1-Bedroom | $1,340 – $1,452 | 2.50% | 8.01% |
| 2-Bedroom | $1,580 – $1,747 | 1.39% | 3.33% |
| 3-Bedroom | $1,965 – $2,158 | 2.87% | 4.84% |
| 4-Bedroom | $2,134 – $2,246 | 1.33% | 4.54% |
Condo/Townhome
| Unit Type | Price | 1 Mo Change | 1 Yr Change |
|---|---|---|---|
| 1-Bedroom | $1,313 – $1,353 | 1.22% | 1.90% |
| 2-Bedroom | $1,749 – $1,864 | 3.87% | 4.41% |
| 3-Bedroom | $2,246 – $2,409 | 3.05% | 6.83% |
| 4-Bedroom | $2,361 – $2,508 | 1.55% | 3.45% |
Single-Family
| Unit Type | Price | 1 Mo Change | 1 Yr Change |
|---|---|---|---|
| 1-Bedroom | $1,273 – $1,329 | 1.56% | 4.75% |
| 2-Bedroom | $1,607 – $1,684 | 1.43% | 3.78% |
| 3-Bedroom | $2,194 – $2,353 | 3.74% | 8.68% |
| 4-Bedroom | $2,420 – $2,686 | -0.69% | 3.42% |
In the Farmington Hills / Novi (48331, 48334, 48374, 48375) rental market, 1-bedroom apartments rose sharply to a median of $1,372, registering a 3.41% increase month over month and a 6.41% gain year over year. This segment saw the most pronounced recent uptick compared to other property types and bedrooms.
Among 3-bedroom units across Farmington Hills / Novi (48331, 48334, 48374, 48375), single-family homes command the highest median rent at $2,196, surpassing both apartments at $2,005 and condos/townhomes at $2,271. The single-family segment also posted a 7.07% annual increase, reflecting the strongest year-over-year gain among 3-bedroom options.
Monthly declines are evident in the condo/townhome sector, as Farmington Hills / Novi (48331, 48334, 48374, 48375) rental trends indicate a 4.07% drop in 2-bedroom unit median rents to $1,733. While still maintaining modest 1.80% annual growth, this marks the sharpest month-over-month decline among all property segments.