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This question is about Novi, MI.
What is a good salary in Novi, MI?
A good salary in Novi, MI is anything over $64,000. That's because the median income in Novi is $64,000, which means if you earn more than that you're earning more than 50% of the people living in Novi. The average salary in Novi is $73,908.
A good hourly wage in Novi is $30.77 per hour. That works out to a good weekly wage of $1,230 per week and a good monthly wage of $5,333 per month. However, using the median income is only one way to calculate a good salary in Novi.
Another way to calculate a good salary in Novi is to look at the price of housing and use that to back into a good salary. Experts agree that you want to maintain about a 5 to 1 home price to income ratio. Based on the median home price of $322,100, a good salary in Novi would be $64,420.
Lastly, we can determine a good salary in Novi by looking at the cost of living and comparing it to the US average salary. The cost of living in Novi is 13% higher than than the national average. The national average salary is $56,310, so a good salary in Novi is anything over $64,193 by this measure.
Average Annual Salary in Novi, MI
| Percentile | Annual Salary | Monthly Pay | Weekly Pay | Hourly Wage |
| 10th | $33,000 | $2,750 | $634 | $15.87 |
| 25th | $45,000 | $3,750 | $865 | $21.63 |
| Median | $64,000 | $5,333 | $1,230 | $30.77 |
| 75th | $91,000 | $7,583 | $1,750 | $43.75 |
| 90th | $125,000 | $10,416 | $2,403 | $60.1 |
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