The story of this market
The typical home in ZIP 48377 sells for about $510,000, or $241 per square foot.
Prices are up +5.9% from a year ago, so sellers still have some momentum. Homes take about 10 days to sell, which is fast. HUD's fair market rent for a two-bedroom is $1,579 a month.
ZIP 48377 — Novi
The Novi housing market remains highly competitive, characterized by low inventory and rapid turnover, with a median sale price of $510,000. Strong demand from families and professionals, coupled with limited supply, continues to drive price appreciation and high sale-to-list ratios. The market is currently performing at a brisk pace, with homes frequently selling in under two weeks.
This ZIP is ideal for families seeking top-tier schools, corporate professionals commuting to nearby tech and automotive hubs, and downsizers looking for proximity to high-end retail and dining.
Median prices moved up 5.9% year over year.
Homes spend a median of 10 days on market with 2.1 months of supply — a fast-moving market.
49% of listings have cut prices · homes sell at 99.9% of asking — demand is holding steady.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 5.2% · poverty 8.7% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 7.5%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 4.8%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
in-migration and out-migration balanced
ZCTA 48377, Oakland County MI
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
Novi generally maintains a lower crime rate compared to the broader Detroit metropolitan area, with consistent safety ratings reported in residential sectors.
The area is served by highly-rated public schools, with the Novi Community School District consistently recognized for academic performance and college readiness.
The region faces standard Midwestern climate risks, including seasonal severe thunderstorms and winter weather, with no significant unique geological hazard profile.
Novi serves as a major commercial and retail hub in Oakland County, anchored by the Twelve Oaks Mall and significant corporate presence in the automotive and technology sectors.
Property taxes are assessed by Oakland County and the City of Novi, with rates determined by local millage levies that fund schools, municipal services, and county infrastructure.
Located at the intersection of I-96, I-275, and M-5, the ZIP offers high accessibility to major employment centers in Detroit, Ann Arbor, and Southfield.
The area features extensive park systems including Lakeshore Park and ITC Community Sports Park, alongside premier shopping at Twelve Oaks Mall and numerous golf courses.
The rental market is characterized by high demand and low vacancy rates, driven by the area's proximity to major corporate headquarters and regional transit corridors.
The economy is heavily influenced by the automotive industry, technology research, and a robust retail sector, with major employers including Harman International and various automotive suppliers.
The area is highly car-dependent but benefits from excellent connectivity via the I-96 and I-275 highway corridors.
Ongoing development focuses on densifying the commercial corridors and expanding mixed-use residential projects near the city center.
Oakland County utilizes a standardized assessment process based on state-equalized value (SEV) and capped taxable value under Michigan's Proposal A.
Parcels are subject to Novi Community School District taxes and various Oakland County special assessments for infrastructure and public safety.
Property insurance premiums are stable but reflect regional risks associated with severe weather events common in Southeast Michigan.
Data retrieved from US Census Bureau ZCTA-level tables.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
- Dave & Buster's Livonia46.4 mi
- Round1 Bowling & Arcade - Auburn Hills4.115.9 mi
- The HUB Stadium & Restaurant, Auburn Hills4.415.6 mi
- Red Oaks Waterpark4.419.5 mi
- Urban Air Trampoline and Adventure Park3.612 mi
- Pine Knob Music Theatre4.616.9 mi
- Vibe Credit Union Showplace4.32.2 mi
- Topgolf4.216.1 mi
- SEA LIFE Michigan Aquarium4.316 mi
- Ford's Garage Dearborn4.618.6 mi
- Kensington Metropark4.78.9 mi
- Emagine Novi4.51.6 mi
- Dave & Buster's Livonia46.4 mi
- AMC Livonia 203.86.2 mi
- Maybury State Park4.86.4 mi
- Henry Ford Museum of American Innovation4.819 mi
- Greenfield Village4.819 mi
- Cranbrook House & Gardens4.812.3 mi
- Sri Venkateswara Temple & Cultural Center4.82.4 mi
- Cranbrook Institute of Science4.712.2 mi
- Kensington Metropark4.78.9 mi
- Glenlore Trails4.54.6 mi
- Maybury State Park4.86.4 mi
- Cranbrook House & Gardens4.812.3 mi
- Heritage Park4.75.3 mi
- Fox Hills Golf & Banquet Center4.612 mi
- Western Golf & Country Club4.612.1 mi
- Novi Putting Edge4.21.4 mi
- Lyon Oaks County Park and Golf Course4.34.9 mi
- Tanglewood Golf Course4.46.6 mi
- Twelve Oaks Mall4.41.4 mi
- Meijer4.25.6 mi
- One World Market - Novi4.72.4 mi
- Meijer49.8 mi
- Cantoro's Italian Market - Plymouth4.78.1 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
A major regional shopping destination and economic anchor.
Large municipal park offering trails and beach access on Walled Lake.
Extensive athletic fields and community recreation facilities.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.