Novi Southwest median real estate price is $900,800, which is more expensive than 98.9% of the neighborhoods in Michigan and 87.9% of the neighborhoods in the U.S.
The average rental price in Novi Southwest is currently $3,553, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 97.8% 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 2.7%, which is a lower rate of vacancies than 82.4% 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.
Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Novi, the Novi Southwest neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
People
If you come to know the people here, you will recognize that you're in the company of one of the wealthiest communities in the nation. In fact, a mere 0.7% of America's neighborhoods are wealthier than the Novi Southwest neighborhood. Real estate here is exceedingly well-maintained, and similarly, tends to maintain its value over time. The cars driven are mostly luxury brands like Mercedes, Audi, BMW, and Lexus. If the public schools aren't up to snuff, the residents of this neighborhood preferentially send their children to private preparatory schools. Vacation to Disney? Yes, but equally popular are summers in Europe. As one would expect in a considerably wealthy neighborhood such as this, Novi Southwest also has one of the lowest ratings of child poverty in the nation.
In addition, 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 and urban sophisticates.
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 46.7% have earned an advanced degree. Compare that to the average neighborhood in America, where just 13.4% 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 98.7% 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, owner-occupied real estate dominates the Novi Southwest neighborhood. In fact, according to NeighborhoodScout research, the percentage of residential real estate occupied by its owner is higher here than in 99.6% of neighborhoods in America.
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 96.3% of all American neighborhoods.
Diversity
Did you know that the Novi Southwest neighborhood has more Greek and Lebanese ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 4.5% of this neighborhood's residents have Greek ancestry and 2.4% have Lebanese 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.
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, 0.0% 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 100.0% of America's neighborhoods.
A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.
In the Novi Southwest neighborhood, 67.3% 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 16.5% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (12.8%), and 8.1% 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 78.9% of households. Other important languages spoken here include Langs. of India and Chinese.
Ethnicity / Ancestry
Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.
In the Novi Southwest neighborhood in Novi, MI, residents most commonly identify their ethnicity or ancestry as German (20.3%). There are also a number of people of Asian ancestry (18.6%), and residents who report English roots (15.9%), and some of the residents are also of Polish ancestry (12.5%), along with some Italian ancestry residents (8.6%), among others. In addition, 17.5% of the residents of this neighborhood were born in another country.
How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. 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 (76.4%) 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.
