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Real Estate Prices & Overview

Novi Southwest median real estate price is $746,694, which is more expensive than 98.3% of the neighborhoods in Michigan and 85.3% of the neighborhoods in the U.S.

The average rental price in Novi Southwest is currently $3,223, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 97.0% of the neighborhoods in Michigan.

Novi Southwest is a suburban neighborhood (based on population density) located in Novi, Michigan.

Novi Southwest real estate is primarily made up of large (four, five or more bedroom) to medium sized (three or four bedroom) single-family homes and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the Novi Southwest neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.

In Novi Southwest, the current vacancy rate is 2.4%, which is a lower rate of vacancies than 84.8% of all neighborhoods in the U.S. This means that the housing supply in Novi Southwest is very tight compared to the demand for property here.

Notable & Unique Neighborhood Characteristics

When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.

People

According to NeighborhoodScout's exclusive analysis, Novi Southwest is among the best neighborhoods for families in Michigan. In fact, this neighborhood is more family-friendly than 100.0% of neighborhoods in the entire state of Michigan. Its combination of top public schools, low crime rates, and owner-occupied single family homes gives this area the look and feel of a "Leave It to Beaver" episode. Many other families also live here, making it easy to socialize and develop a strong sense of community. In addition, the high number of college-educated parents influences the academic success of the local schools. Overall, you will find all of the amenities a family needs to thrive in the Novi Southwest neighborhood. In addition to being an excellent choice for families with school-aged children, this neighborhood is also a very good choice for highly educated executives, urban sophisticates and college students.

In addition, wealth makes most things in life easier, and a few things harder. If you are wealthy and enjoy keeping up with the Jones', this neighborhood will interest you. In fact, according to NeighborhoodScout's research, the Novi Southwest neighborhood is wealthier than 99.3% of the neighborhoods in the United States. Residents here are truly in a unique situation even when compared to other Americans, based on the sheer amount of wealth concentrated here. Even in times of economic downturn, residents of this neighborhood, as a group, suffered less and recovered more quickly. This is indeed a stand-out characteristic of this neighborhood.

Also, if knowledge is power, then imagine the cumulative power of one neighborhood where many of the adults have earned an advanced degree, such as a Masters, law degree, medical degree, or even a Ph.D. This is certainly the case in the Novi Southwest neighborhood, where 43.8% have earned an advanced degree. Compare that to the average neighborhood in America, where just 13.1% of adults have completed a post-graduate degree, and you can see why this neighborhood is a stand out. In fact, this neighborhood has a higher rate of adults with an advanced degree than 98.2% of the neighborhoods in America.

Real Estate

One way that the Novi Southwest neighborhood really stands out, is that it has more large 4, 5, or additional bedroom homes and real estate than 99.7% of the neighborhoods in America. When you walk or drive around this neighborhood, you'll instantly notice the size of the homes here which definitely makes a strong visual statement.

In addition, real estate in the Novi Southwest neighborhood is almost exclusively owner-occupied. NeighborhoodScout's analysis reveals that this neighborhood has a higher rate of owner-occupied housing than is found in 99.6% of U.S. neighborhoods. If you are seeking to rent, this neighborhood may not have many options, but high rates of ownership often indicate stability in a neighborhood.

Furthermore, some neighborhoods are made up of apartments. Some consist of row houses, and most - by far - consist of a mixture of housing types. But the Novi Southwest neighborhood stands out due to the total dominance of detached, single-family homes here. There are nearly no other types of residential real estate in the neighborhood. In fact, this neighborhood has a higher proportion of single-family homes in its real estate stock than 96.9% of all American neighborhoods.

Diversity

Did you know that the Novi Southwest neighborhood has more Lebanese and Polish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.5% of this neighborhood's residents have Lebanese ancestry and 13.0% have Polish ancestry.

Novi Southwest is also pretty special linguistically. Significantly, 4.1% of its residents five years old and above primarily speak Langs. of India at home. While this may seem like a small percentage, it is higher than 96.4% of the neighborhoods in America.

The Neighbors

There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.

The neighbors in the Novi Southwest neighborhood in Novi are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 99.3% of the neighborhoods in America. In addition, 0.4% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 80.1% of America's neighborhoods.

What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.

In the Novi Southwest neighborhood, 65.5% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 17.7% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (12.7%), and 6.2% in government jobs, whether they are in local, state, or federal positions.

Languages

The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Novi Southwest neighborhood is English, spoken by 81.8% of households. Other important languages spoken here include Langs. of India and Chinese.

Ethnicity / Ancestry

Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.

In the Novi Southwest neighborhood in Novi, MI, residents most commonly identify their ethnicity or ancestry as German (22.6%). There are also a number of people of English ancestry (17.7%), and residents who report Asian roots (16.6%), and some of the residents are also of Polish ancestry (13.0%), along with some Italian ancestry residents (10.5%), among others. In addition, 15.1% of the residents of this neighborhood were born in another country.

Getting to Work

Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Novi Southwest neighborhood spend between 15 and 30 minutes commuting one-way to work (33.9% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (82.2%) drive alone in a private automobile to get to work. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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