What is the cost of living in Novi, MI?
According to the most recent data on the cost of living, Novi has an overall cost of living index of 116, which is 1.2x higher than the national index of 100.
Compared to Michigan, Novi has a cost of living index that's 1.3x higher than Michigan's index of 91.
The standard of living in Novi ranks as #167 most affordable out of the 179 places we measured in Michigan. By definition, that implies Novi ranks as the #12 most expensive place in the Wolverine State.
For more reading on life in Novi, check out:
Novi Cost Of Living Vs. Michigan
Six factors go into calculating the cost of living index in Novi. Here is how it fares on each of the criteria:
The Services index in Novi is 97.
The Groceries index in Novi is 95.
The Health index in Novi is 166.
The Housing index in Novi is 97.
The Transportation index in Novi is 95.
The Utilities index in Novi is 98.
| Living Expense | Novi | Michigan | National Average |
|---|---|---|---|
| Overall | 116 | 91 | 100 |
| Services | 97 | 97 | 100 |
| Groceries | 95 | 98 | 100 |
| Health | 166 | 75 | 100 |
| Housing | 97 | 98 | 100 |
| Transportation | 95 | 101 | 100 |
| Utilities | 98 | 98 | 100 |
Novi Cost Of Living Compared To Michigan Averages
Index where 100 = national average. Source: cost-of-living index 2026.
For more reading on cost of living around Michigan, check out:
Protect your home budget Compare home warranties in Novi Get matched →Source: Cost-of-living index 2026, normalized to US average = 100
Novi, MI Housing Cost Breakdown
Housing swings affordability the most between places in Michigan, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2020-2024. The key points are:
The Median Home Value in Novi is $467,223.
The Median Rent in Novi is $1,747.
The Median Income in Novi is $110,723.
The Home Value To Income in Novi is 4.2x.
The Rent To Monthly Income in Novi is 0.19x.
Novi, MI Costs By Category
Detailed Novi Services costs vs. Michigan
Detailed Novi Groceries costs vs. Michigan
Detailed Novi Health costs vs. Michigan
Detailed Novi Transportation costs vs. Michigan
Novi SnackAbility
Cost Of Living In Cities Around Novi
The cost of living varies in the cities and towns around Novi. Here's a quick look at the cost of living in the most populous nearby places:
Ann Arbor, MI has a cost of living index of 122, 1.1x Novi.
Livonia, MI has a cost of living index of 101, 0.9x Novi.
Troy, MI has a cost of living index of 114, 1.0x Novi.
| City | Population | Cost Of Living | Vs. Novi |
|---|---|---|---|
| Ann Arbor, MI | 122,036 | 122 | 1.1x |
| Livonia, MI | 93,851 | 101 | 0.9x |
| Troy, MI | 87,898 | 114 | 1.0x |
| Farmington Hills, MI | 83,515 | 112 | 1.0x |
| Royal Oak, MI | 57,950 | 107 | 0.9x |
| Birmingham, MI | 21,763 | 146 | 1.3x |
| Wixom, MI | 17,295 | 104 | 0.9x |
| Berkley, MI | 15,149 | 105 | 0.9x |
| South Lyon, MI | 11,950 | 103 | 0.9x |
| Farmington, MI | 11,504 | 105 | 0.9x |
