Property Prices in Novi, MI, United States
| Index |  |
|---|---|
| Price to Income Ratio: | 2.69 |
| Mortgage as Percentage of Income: | 24.70% |
| Loan Affordability Index: | 4.05 |
| Price to Rent Ratio - City Centre: | 10.57 |
| Price to Rent Ratio - Outside of Centre: | 8.41 |
| Gross Rental Yield (City Centre): | 9.46% |
| Gross Rental Yield (Outside of Centre): | 11.89% |
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Rent Per Month |  Edit |
Range |
|---|---|---|
| Apartment (1 bedroom) in City Centre | 1,625.00 $ | |
| Apartment (1 bedroom) Outside of Centre | 1,445.00 $ | |
| Apartment (3 bedrooms) in City Centre | 2,400.00 $ | |
| Apartment (3 bedrooms) Outside of Centre | 2,100.00 $ | |
Buy Apartment Price | Edit |
|
| Price per Square Feet to Buy Apartment in City Centre | 320.00 $ | |
| Price per Square Feet to Buy Apartment Outside of Centre | 225.00 $ | |
Salaries And Financing | Edit |
|
| Average Monthly Net Salary (After Tax) | 5,460.40 $ | |
| Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate | 6.85 |
These data are based on 20 entries in the past 18 months from 7 different contributors.
Last update: October 2024
Sources and References
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