Novi, MI vs Troy, MI

Novi, MI and Troy, MI have a very similar cost of living, with only a 3.9% difference in their overall index. Novi scores 119 while Troy scores 114 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

On the housing front, median rent in Novi is $1,696/month compared to $1,557/month in Troy — a 9% difference. Home values follow the same pattern: Troy is more affordable at $396,800 median vs $399,100.

Median household income in Novi is $110,938 compared to $119,299 in Troy (-7%). Troy offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Novi spend roughly 18.3% of their income on rent, more than the 15.7% in Troy.