Novi, MI
April 2026
48374,48375,48377
Long-term Rental Rates
Apartment
| Unit Type | Price | 1 Mo Change | 1 Yr Change |
|---|---|---|---|
| 1-Bedroom | $1,243 – $1,346 | -0.74% | 6.85% |
| 2-Bedroom | $1,508 – $1,667 | 0.80% | 3.75% |
| 3-Bedroom | $1,942 – $2,072 | -0.13% | 3.95% |
| 4-Bedroom | $2,094 – $2,201 | 0.40% | 4.86% |
Condo/Townhome
| Unit Type | Price | 1 Mo Change | 1 Yr Change |
|---|---|---|---|
| 1-Bedroom | $1,285 – $1,342 | 0.66% | 4.93% |
| 2-Bedroom | $1,857 – $1,992 | 5.81% | 8.67% |
| 3-Bedroom | $2,198 – $2,343 | -0.51% | 3.46% |
| 4-Bedroom | $2,357 – $2,478 | 0.72% | 2.08% |
Single-Family
| Unit Type | Price | 1 Mo Change | 1 Yr Change |
|---|---|---|---|
| 1-Bedroom | $1,250 – $1,293 | 0.80% | 5.15% |
| 2-Bedroom | $1,566 – $1,667 | 1.97% | 5.64% |
| 3-Bedroom | $1,964 – $2,065 | -2.81% | 1.56% |
| 4-Bedroom | $2,465 – $2,670 | 3.34% | 7.16% |
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.
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.
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.