Novi, MI
- Overview
- Performance
- Listings
- Buy Box
Key Performance Metrics
Market snapshotPerformance indicators for the Novi short-term rental market based on reliable data.
Listings
13 / 86
Reliable / Active
Cap Rate
8%
Middle-Earners Gross Yield
Revenue
$34,430
Middle-Earners Revenue
Occupancy
65%
Middle-Earners Occupancy
Home Value
$452,528
Median Home Sale Price
Top Earners
$48,621
Top-Earners Revenue
Novi
Market Revenue Seasonality
Top Listings
Highest revenueThe highest-performing listings in Novi.
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Generally Investor friendly
Novi Regulations
Short‑term rentals are allowed without city licensing or caps, but investors must confirm zoning compliance and obtain standard building permits as needed, plus register for Michigan’s 6% use tax (especially for non‑Airbnb bookings). This moderate compliance, clear non‑restrictive stance, and existing building/safety rules create a manageable, investor‑friendly framework.
Local STR Agent
STR specialist · Novi, MI
About Novi
Novi ( NOVE-eye) is a city in Oakland County in the U.S. state of Michigan. A northwestern suburb of Detroit, Novi is located roughly 25 miles (40.2 km) northwest of downtown Detroit. As of the 2020 census, the city had a population of 66,243, an increase of 20% from the 2010 census.The city is located within the boundaries of the survey township of Novi Township, which now also includes portions of the cities of Northville and Walled Lake. The remaining unincorporated township is only a tiny fraction of 0.11 square miles (0.28 km2) surrounded by the city.