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Novi city, MI

ZIP 48375 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Upper Middle ClassLow Snow AreaRemote Work Hub

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 48375

Median Home Value
$348,900
Median Rent
$1,694
Affordability Snapshot
$96,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$2,241/mo PITI).

18%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

3.1x
Home Price-to-Income Ratio

Within the typical 3-5x range for home affordability.

17.2 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 48375 in Novi city, MI, a household would need roughly $96,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $2,241. That sits below the local median household income ($112,978), suggesting the typical household income is closer to a workable buy-in level under these assumptions. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Owner-occupied majority; balanced tenure mix.

Heating Fuel
Housing Metrics
Owner Occupied
71.1%+9% vs US avg
x
Vacancy Rate
2.6%-75% vs US avg
x
Broadband Access
97.0%+11% vs US avg
x
4+ Bedrooms
2.3%-85% vs US avg
x
Built Pre-1939
0.1%-99% vs US avg
x
Built Post-2014
1.9%-72% vs US avg
x
Rent Burden >30%
17.1%-66% vs US avg
x
Mortgage-Free
40.2%+5% vs US avg
x
$348,900
Home Value
$1,694
Rent
1982
Year Built
2013
Moved In

Residents have lived here since ~2013 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached54.7%
  • 1-unit attached14.7%
  • 2-9 units17.5%
  • 10+ units9.8%
  • Mobile home & other3.3%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$348,900
Median rent$1,694
Owner-occupied71.1%
Vacant2.6%
Price-to-income3.1x
Est. income to buy$96,000