Cost of Living in Novi, MI
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
168.9
100 = national avg
+68.9 vs national average
Living Wage (1 Adult)
$74,329
per year
Living Wage (Family of 4)
$175,686
per year
Cost Index by Category
Housing202.6
Food134.8
Transportation169.6
Healthcare127.8
Utilities141.4
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$1,122
per month
2 Bedroom
$1,411
per month
The overall cost of living index in Novi is 168.9, which is 68.9% above the national average. Housing costs are above the national average at an index of 202.6. A single adult needs to earn approximately $74,329 per year to cover basic expenses.