ZIP Code 48377 — Novi, MI Home Prices (2026)
The typical home in ZIP 48377 (Novi, Michigan) is worth about $384,000 at roughly $236 per square foot — 6% more affordable than the Novi median and 31% more expensive than the typical U.S. home.
How 48377 compares
ZIP 48377 is one of the more affordable ZIP codes in Novi: its typical home value of $384,000 ranks #3 of the 3 Novi ZIP codes we track (the citywide range runs from $384,000 in 48377 to $688,000 in 48374). Per square foot it costs about $236, against $245 for Novi as a whole, $190 for Michigan, and $195 nationally.
| Area | Typical value | $ / sq ft |
|---|---|---|
| ZIP 48377 | $384,000 | $236 |
| Novi, MI | $410,000 | $245 |
| Michigan | $251,000 | $190 |
| United States | $294,000 | $195 |
Home value by size in 48377
Using this ZIP’s rate of about $236 per square foot. Condition, lot, and the exact street move these meaningfully — use the estimator below for a home-specific figure.
| Home size | Estimated value |
|---|---|
| 1,000 sq ft | $236,000 |
| 1,500 sq ft | $354,000 |
| 2,000 sq ft | $472,000 |
| 2,500 sq ft | $590,000 |
| 3,000 sq ft | $708,000 |
Salary needed to buy a home in ZIP 48377
To buy the typical $384,000 home in ZIP 48377 with 20% down, you need a household income of roughly $104,000 a year (about $2,440 a month for the mortgage, taxes, and insurance). With 10% down the bar rises to about $124,000, because the loan is bigger and mortgage insurance kicks in.
| Down payment | Cash down | Monthly payment | Income needed |
|---|---|---|---|
| 5% (+PMI) | $19,200 | $3,030/mo | $130,000/yr |
| 10% (+PMI) | $38,400 | $2,900/mo | $124,000/yr |
| 20% | $76,800 | $2,440/mo | $104,000/yr |
Assumes a 30-year fixed mortgage at 6.5%, property tax at 1.1% and insurance at 0.45% of value per year, PMI of 0.75% on loans with less than 20% down, and the standard 28% housing-to-income rule. Your rate, taxes, and HOA will move these — run your own numbers in the mortgage calculator.
What your budget buys in ZIP 48377
At about $236 per square foot, here is roughly how much home different budgets get you in ZIP 48377:
| Budget | Approx. size | What that looks like locally |
|---|---|---|
| $200k | 850 sq ft | below the local median — condos, smaller or older homes |
| $250k | 1060 sq ft | below the local median — condos, smaller or older homes |
| $300k | 1270 sq ft | below the local median — condos, smaller or older homes |
| $400k | 1690 sq ft | around the typical home here |
| $500k | 2120 sq ft | above the median — larger homes or the pricier ZIPs |
Wondering where that budget goes further? The relocation calculator ranks hundreds of U.S. cities by what the same money buys — it opens pre-filled with a typical 48377 home.
Estimate a specific home in 48377
The estimator below is pre-set to ZIP 48377 — pick your home’s size for an instant ballpark, then open the full calculator to adjust beds, baths, and condition.
All Novi ZIP codes by home value
Where 48377 sits among Novi’s 3 ZIP codes:
ZIP 48377 home prices: frequently asked
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See the full Novi home values page, all Michigan cities, or price per square foot by ZIP code nationwide.
Directional estimates from public market data (Realtor.com & Zillow research), not appraisals. A single ZIP contains very different homes; actual values vary and change over time.