Cost of Living: Novi, MI vs Durham, NC
Housing
The housing market plays a significant role in determining the cost of living.
| Metric | Novi | Durham |
|---|---|---|
| Housing Index | 120.0 | 95.0 |
| Median Home Price | $325,000 | $334,000 |
| Average Rent (2 BR Apartment) | $1800 | $1500 |
| Average Rent (2 BR House) | $2000 | $1600 |
Housing Comparison: Novi vs Durham
- The median home price in Durham is higher at $334,000, compared to $325,000 in Novi.
- Renting a two-bedroom apartment costs more in Novi at $1,800 than in Durham at $1,500.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living.
| Metric | Novi | Durham |
|---|---|---|
| Electricity Price | $19.88 | $13.72 |
| Natural Gas Price | $15.42 | $Data is updating |
| Other Utilities | $250 | $250 |
Utilities Comparison: Novi vs Durham
- Electricity costs are higher in Novi at $19.88 per kWh, compared to $13.72 in Durham.
- Natural gas price data is currently unavailable.
- Utility expenses are equal in both Novi and Durham averaging $250.