Zip lookup · MI

48377
Novi, Michigan.

Novi, Oakland County, MI · Detroit-Warren-Dearborn, MI metro · population 19,816

What it costs per month · 48377 $1,986/mo

to buy the typical home at today's mortgage rate — +$915 (+86%) since Jan 2020.

What the home itself did
1 year
Up $4,272 +1%
$374,062$378,334 since Sep 2025
5 years
Up $47,518 +14%
$330,817$378,334 since Sep 2021

Monthly payment to buy the typical home

Home value × that month's 30-year mortgage rate, 20% down, principal and interest. This is the line households feel: prices and rates compound each other.

$500 $1,000 $1,500 $2,000 2002 2006 2010 2014 2018 2022 2026 48377 $1,986 United States $1,922
$500 $1,000 $1,500 $2,000 2002 2010 2018 2026
  • 48377$1,986
  • United States$1,922

At the last five years' pace, a typical home here doubles in price every 26 years.

Typical home values in zip 48377 rose 1.1% over the past year — in step with the nation.

Asking rents in zip 48377 rose 2.3% over the past year — slower than the nation's +2.7%.

Owning the typical home in zip 48377 runs $816/mo more than renting one. The gap peaked at $910 in May 2024.

That is $2,792 a month against $1,976 rent: a $1,986 mortgage payment, plus $401 property tax and $405 insurance & upkeep.

Owning vs renting — zip 48377

The owning line is the typical home's monthly payment at that month's rate, plus property tax and insurance & upkeep; the renting line is the typical asking rent; the grey line is the mortgage payment on its own. Same homes, same months, both ways of paying for a roof.

$1,750 $2,000 $2,250 $2,500 $2,750 2024 2025 2026 Owning all in $2,792 Renting $1,976 Mortgage only $1,986
$1,750 $2,000 $2,250 $2,500 $2,750 2024 2025 2026
  • Owning all in$2,792
  • Renting$1,976
  • Mortgage only$1,986

Property tax · $401/mo 1.27% of value a year — the ACS 2020-2024 median bill over the median home value for Oakland County, MI

Insurance & upkeep · $405/mo insurance, maintenance and repairs together, from the BLS Consumer Expenditure Survey — the national figure for mortgaged homeowners, scaled to this market's home value. BLS publishes the three bundled and they cannot be split.

Both are priced off the same month's home value, so they rise with the market. Neither is a quote — a specific home's bill depends on its assessment, its age and its insurer.

Zillow also publishes an index for the city itself: Novi, MI — measured over the city limits, which is a different area from this zip.

Asking rent $1,976 as of Sep 2026
+2.3%year on year
Typical home value $378,334 as of Sep 2026
+1.1%year on year

Asking rent — 48377

Against the Detroit-Warren-Dearborn, MI metro and the national benchmark.

$1,400 $1,600 $1,800 $2,000 2024 2025 2026 48377 $1,976 Detroit $1,514 United States $1,932
$1,400 $1,600 $1,800 $2,000 2024 2025 2026
  • 48377$1,976
  • Detroit$1,514
  • United States$1,932

Typical home value — 48377

Mid-tier homes, smoothed and seasonally adjusted.

$150,000 $200,000 $250,000 $300,000 $350,000 2018 2020 2022 2024 2026 48377 $378,334 Detroit $264,316 United States $366,157
$150,000 $200,000 $250,000 $300,000 $350,000 2018 2022 2026
  • 48377$378,334
  • Detroit$264,316
  • United States$366,157

Within 20 miles

Showing 30 of 93 zips in range — sorting picks from all 93.

10 mi 20 mi 50 mi
Miles Zip City Population Rent Home value
2.9 48375 Novi 24,029 $1,759 $398,976
3.1 48390 Walled Lake 23,939 $2,239 $311,828
3.3 48331 Farmington 21,562 $1,735 $455,784
3.6 48374 Novi 17,672 $1,997 $673,283
3.8 48393 Wixom 20,145 $1,179 $383,561
4.7 48335 Farmington 25,077 $1,199 $423,537
5.3 48322 West Bloomfield 32,885 $2,258 $415,216
5.8 48167 Northville 24,713 $1,671 $491,966
6.0 48382 Commerce Township 24,479 $2,323 $465,240
6.3 48334 Farmington 19,618 $1,734 $354,221
6.6 48323 West Bloomfield 17,235 — $523,954
7.0 48336 Farmington 26,432 $1,574 $300,894
7.3 48381 Milford 14,094 $2,187 $468,427
7.3 48165 New Hudson 9,566 $2,048 $461,657
7.5 48152 Livonia 30,119 $1,434 $324,298
7.5 48324 West Bloomfield 17,098 $1,849 $477,291
7.8 48168 Northville 25,038 $2,648 $652,361
9.1 48154 Livonia 37,045 $2,412 $338,019
9.3 48034 Southfield 14,796 $1,473 $253,920
9.8 48033 Southfield 17,277 $1,476 $226,145
10.0 48327 Waterford 20,960 $1,337 $278,298
10.0 48301 Bloomfield Hills 14,682 $3,070 $793,537
10.0 48320 Keego Harbor 4,277 — $298,874
10.1 48170 Plymouth 40,076 $1,550 $475,084
10.4 48240 Redford 17,008 $1,573 $154,669
10.5 48386 White Lake 17,856 $2,083 $377,720
10.5 48025 Franklin 14,734 $2,874 $641,764
10.5 48302 Bloomfield Hills 17,505 $2,167 $730,285
10.6 48178 South Lyon 37,789 $1,652 $472,962
10.8 48383 White Lake 13,285 $2,276 $423,526

Coordinates and population from SimpleMaps US Zips (Basic). Rent and home values from Zillow Research.