Median Age
43 Years
Largest Age Group
45-54 Years
Approximately 14% of Residents
Under 20
23%
Over 65
21%
Troy, MI
Area Guide
Avg Rent
$1,445
Population
85,635
Renter Mix
27% Rent
Detroit suburb contains natural and retail delights
Suburban
•
Commuter
Located in Oakland County, Troy combines suburban comfort with metropolitan convenience. The city's rental market offers a range of housing options, from apartment communities to townhomes, with current average rents ranging from $1,302 for studios to $1,738 for two-bedroom units. The Somerset Collection, an upscale mall featuring over 180 retailers connected by a glass-enclosed skywalk, anchors the community's retail district. Neighborhoods include the historic Troy Corners district and the Big Beaver corridor, home to office complexes and restaurants. Residents enjoy access to community parks and the Troy Historic Village, which features preserved 19th-century buildings.
Troy serves as a significant business center, particularly for automotive and financial companies. The city sits 22 miles north of downtown Detroit, providing easy access to major highways and employment centers throughout the metro area. The Troy School District serves the community with several elementary and middle schools, along with Troy High School and Athens High School. Recent rent trends indicate steady growth, with most unit types showing 2-4% annual increases. The city maintains numerous parks and recreation facilities, including the Lloyd A. Stage Nature Center and Firefighters Park, offering walking trails and outdoor activities throughout the year.
Explore the City
Troy's City Hall features a library, community center, and an outdoor park.
Summerset Mall is a great place to hang out and people watch in Troy.
Demographics
Median Household Income
$114,281
Average: $139,131
Education
40,772
Residents Have a Degree
Job Market
43,954
Workers Employed
Age Distribution
Get a sense of this area's population profile.
Housing Distribution
Troy has more homeowners than renters.
Renters
27%
Non-Renters
73%
Education Distribution
Review this city's overall education levels.
Bachelor's or Higher
44%
Other Education
56%
Rent Trends
As of June 2026, the average apartment rent in Troy, MI is $1,488 for a studio, $1,440 for one bedroom, $1,733 for two bedrooms, and $2,252 for three bedrooms. Apartment rent in Troy has increased by 1.5% in the past year.
Property Type
Average Rent
Average Sq Ft
Apartment
$1,440/month
809 Sq Ft
House
$3,031/month
1,618 Sq Ft
Condo
$2,525/month
1,385 Sq Ft
Cost of Living
The cost of living in Troy, MI is 5.8% higher than the national average. Generally, housing in Troy is 7.6% more expensive than the national average, with rent falling between $1,440 - $2,252. You can expect to pay 0.9% more for groceries, 4.8% less for utilities, and 2.9% more for transportation.
Compare Cities
Getting Around
Explore how walkable, bikeable, drivable, and transit-friendly Troy, MI is for everyday living.
Fairly Walkable
Walkability
40
/ 100
Exceptionally Drivable
Drivability
90
/ 100
Fairly Bikeable
Bikeability
50
/ 100
Scores provided by
Schools
Public
Grades K-5
467 Students
Public
Grades PK-5
401 Students
Public
Grades K-5
425 Students
Public
Grades K-5
421 Students
Public
Grades K-5
409 Students
Public
Grades 6-8
858 Students
Public
Grades 6-8
824 Students
Public
Grades 6-8
613 Students
Public
Grades 6-8
589 Students
Public
Grades 6-12
233 Students
Public
Grades 9-12
1,994 Students
Public
Grades 9-12
1,451 Students
Public
Grades 6-12
233 Students
School data provided by
The GreatSchools Rating helps parents compare schools within a state based on a variety of school quality indicators and provides a helpful picture of how effectively each school serves all of its students. Ratings are on a scale of 1 (below average) to 10 (above average) and can include test scores, college readiness, academic progress, advanced courses, equity, discipline and attendance data. We also advise parents to visit schools, consider other information on school performance and programs, and consider family needs as part of the school selection process.
View GreatSchools Rating Methodology
Data provided by
GreatSchools.org
© 2026. All rights reserved.
The GreatSchools Rating helps parents compare schools within a state based on a variety of school quality indicators and provides a helpful picture of how effectively each school serves all of its students. Ratings are on a scale of 1 (below average) to 10 (above average) and can include test scores, college readiness, academic progress, advanced courses, equity, discipline and attendance data. We also advise parents to visit schools, consider other information on school performance and programs, and consider family needs as part of the school selection process.
View GreatSchools Rating Methodology
Data provided by
GreatSchools.org
© 2026. All rights reserved.
Points of Interest
Shopping Centers
Parks and Recreation
- Troy Historic Village
- Lloyd A. Stage Nature Center
- Cranbrook Institute of Science
- Red Oaks Nature Center and County Park
- Burgess-Shadbush Nature Center
Commuter Rail
Military Bases
Airports
- Detroit Metro Wayne County
Top Apartments in Troy
Houses for Rent in Troy
Search Nearby Rentals
Nearby City Rentals
Nearby Neighborhood Rentals
Nearby House Rentals
Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in June 2026.
Demographic information comes from Neustar and combines detailed address data with U.S. Census and American Community Survey statistics to produce reliable local estimates.