Novi, MI
June 2026
48374,48375,48377
Long-term Rental Rates
Apartment
| Unit Type | Price | 1 Mo Change | 1 Yr Change |
|---|---|---|---|
| 1-Bedroom | $1,254 – $1,352 | 1.06% | 4.21% |
| 2-Bedroom | $1,551 – $1,714 | 1.17% | 4.35% |
| 3-Bedroom | $1,988 – $2,121 | 1.50% | 3.05% |
| 4-Bedroom | $2,137 – $2,248 | 1.32% | 4.57% |
Condo/Townhome
| Unit Type | Price | 1 Mo Change | 1 Yr Change |
|---|---|---|---|
| 1-Bedroom | $1,325 – $1,385 | 1.68% | 4.70% |
| 2-Bedroom | $1,937 – $2,077 | 2.59% | 9.35% |
| 3-Bedroom | $2,295 – $2,446 | 1.84% | 5.89% |
| 4-Bedroom | $2,423 – $2,547 | 1.61% | 2.45% |
Single-Family
| Unit Type | Price | 1 Mo Change | 1 Yr Change |
|---|---|---|---|
| 1-Bedroom | $1,273 – $1,329 | 1.56% | 4.75% |
| 2-Bedroom | $1,613 – $1,688 | 1.51% | 3.89% |
| 3-Bedroom | $2,157 – $2,314 | 4.95% | 7.87% |
| 4-Bedroom | $2,405 – $2,669 | 0.55% | 4.77% |
In the Novi (48374, 48375, 48377) rental market, 2-bedroom condos and townhomes saw the strongest annual growth, rising 9.35% year-over-year to a median rent of $2,007 in June 2026. The segment's monthly increase was also notable at 2.59%, outpacing all other 2BR property types in the area.
Among all segments in Novi (48374, 48375, 48377), 3-bedroom single-family rentals recorded the sharpest month-over-month gain, climbing 4.95% to a median rent of $2,236. This far surpasses the 1.50% increase posted by 3-bedroom apartments, emphasizing a greater acceleration in single-family options for mid-sized households.
Comparisons of Novi (48374, 48375, 48377) rental trends indicate 1-bedroom condos/townhomes lead their apartment counterparts by $55 at $1,355. Annual rent increases also favored condos at 4.70% versus a 4.21% rise for apartments, reflecting a consistent entry-level premium for condo-style living.