Property Prices in Novi, MI, United States
| Index |  |
|---|---|
| Price to Income Ratio: | 2.07 |
| Mortgage as Percentage of Income: | 18.83% |
| Loan Affordability Index: | 5.31 |
| Price to Rent Ratio - City Centre: | 7.53 |
| Price to Rent Ratio - Outside of Centre: | 7.94 |
| Gross Rental Yield (City Centre): | 13.27% |
| Gross Rental Yield (Outside of Centre): | 12.60% |
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Rent Per Month |  Edit |
Range |
|---|---|---|
| Apartment (1 bedroom) in City Centre | 1,500.00 $ | |
| Apartment (1 bedroom) Outside of Centre | 1,125.00 $ | |
| Apartment (3 bedrooms) in City Centre | 2,200.00 $ | |
| Apartment (3 bedrooms) Outside of Centre | 2,000.00 $ | |
Buy Apartment Price | Edit |
|
| Price per Square Feet to Buy Apartment in City Centre | 210.00 $ | |
| Price per Square Feet to Buy Apartment Outside of Centre | 180.00 $ | |
Salaries And Financing | Edit |
|
| Average Monthly Net Salary (After Tax) | 5,066.67 $ | |
| Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate | 6.70 |
These data are based on 11 entries in the past 18 months from 3 different contributors.
Last update: July 2023
Sources and References
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