What HUD offices serve Novi, Michigan?
Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.
Go to the Michigan Public Housing and Low-Income Apartments Waiting Lists page for openings near Novi.
How many renters live in Novi, Michigan?
The City of Novi has people living in households.
There are renters living in renter households in this City. Renters make up 27.67 percent of the population living in Novi.
What is the rental market like in Novi, Michigan?
There are an estimated housing units in the Novi area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Novi, Michigan, there are 0.97 rental units.
What is the vacancy rate for rentals in Novi?
The rental vacancy rate in Novi is 9 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.
How many rental units are in Novi for each bedroom size?
Occupied Rental Units by Size in Novi
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 152 | 2,803 | 3,890 | 1,362 | 264 |
Occupied Rental Units by Size in Novi
A large number of apartments in Novi have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How Much Is Rent in Novi
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $920 to $1,719. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $920 |
| One BR | $1,019 |
| Two BR | $1,291 |
| Three BR | $1,595 |
| Four BR | $1,719 |
2024 Fair Market Rents in Novi, Michigan
How many units are rented at Fair Market Rent (FMR) in Novi?
Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.
These are the approximate number of units renting below the FMR in this market:
| Unit Size | Count of Units Below FMR | Percentage of Total Units Below FMR |
| Studio | 40 | 26 percent |
| One BR | 724 | 26 percent |
| Two BR | 781 | 20 percent |
Rental Units Below FMR in Novi, Michigan
How many affordable rental units are in Novi?
Income Based Apartments in Novi, Michigan
Novi features 0 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.
Low Rent Apartments in Novi, Michigan
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Novi.
Housing Choice Vouchers in Novi, Michigan
On average, Section 8 Housing Choice vouchers pay Novi landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Novi.
The maximum amount a voucher would pay on behalf of a low-income tenant in Novi, Michigan for a two-bedroom apartment is between $1,162 and $1,420.
Sourced from federal housing data and AffordableHousingOnline.com research.