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Novi city, MI

ZIP 48167 — 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 48167

Median Home Value
$430,500
Median Rent
$1,415
Affordability Snapshot
$118,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$2,765/mo PITI).

14%
Rent-to-Income Ratio

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

3.6x
Home Price-to-Income Ratio

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

25.4 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 48167 in Novi city, MI, a household would need roughly $118,000 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 $2,765. That is roughly in line with the local median household income ($118,378). 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
72.8%+11% vs US avg
x
Vacancy Rate
6.2%-39% vs US avg
x
Broadband Access
96.2%+11% vs US avg
x
4+ Bedrooms
6.6%-55% vs US avg
x
Built Pre-1939
1.9%-85% vs US avg
x
Built Post-2014
0.6%-91% vs US avg
x
Rent Burden >30%
15.7%-68% vs US avg
x
Mortgage-Free
37.9%-1% vs US avg
x
$430,500
Home Value
$1,415
Rent
1979
Year Built
2012
Moved In

Residents have lived here since ~2012 on average

Housing Structure

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

  • 1-unit detached56.1%
  • 1-unit attached12.0%
  • 2-9 units17.1%
  • 10+ units8.5%
  • Mobile home & other6.3%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$430,500
Median rent$1,415
Owner-occupied72.8%
Vacant6.2%
Price-to-income3.6x
Est. income to buy$118,000