The Gables of Troy
500 Coachman Dr,
Troy, MI 48083
1-2 Beds | $1,270 - $1,714
Rental Market Trends in Troy, MI
Updated July 2026
The average rent in Troy, MI is $1,470/month.
Rent in Troy is roughly equal to the national average rent of of $1,662/month.
$1,470/month
Average Rent
810 Sq Ft
Average Size
+4.8%
Change / Year
965
Available Apartments
Troy rent varies by unit size and layout:
- Studio apartments in Troy average $1,504 per month.
- One-bedroom apartments in Troy average $1,470 per month.
- Two-bedroom apartments in Troy average $1,751 per month.
- Three-bedroom apartments in Troy average $2,320 or more per month.
Average Rent by Home Type
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
How much has average rent changed in Troy, MI?
In the past year, rent has increased by 4.8%, which averages out to $72 more per month.
Market Trends Over Time
July 2026
2025
2026
Rent Ranges in Troy, MI
July 2026
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
0%
Below $700/month
3%
$700 - $1,000/month
53%
$1,001 - $1,500/month
19%
$1,501 - $2,000/month
25%
Above $2,000/month
Rent by Neighborhood
What are the most affordable neighborhoods in Troy?
Based on current rent prices, Downtown Troy and Maple Road" are the most affordable neighborhoods in Troy.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Troy?
Based on current rent prices, Maple Road and Downtown Troy" are the most expensive neighborhoods in Troy.
Neighborhood
Average Rent
Average Sq Ft
Which Troy neighborhoods have the most rentals available?
The neighborhoods in Troy with the most apartments available are Downtown Troy and Maple Road" .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Troy, MI?
Because the average rent in Troy is $1,470, you’ll want to make about $4,900 per month or $58,800 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
Cost of Living
The cost of living in Troy, MI is 5.9% higher than the national average. Generally, housing in Troy is 7.6% more expensive than the national average, with rent falling between $1,470 - $2,320. You can expect to pay 0.9% more for groceries, 3.5% less for utilities, and 2.9% more for transportation.
How does Troy, MI compare to other nearby cities and neighborhoods?
Use the tool below to compare Troy, MI to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
View the Troy Area GuideStudio
$1,625/month
$1,693/month
One Bedroom
$1,786/month
$1,618/month
Two Bedroom
$2,014/month
$2,089/month
Three Bedroom
$2,495/month
$2,671/month
Compare Rent Trends Nearby
Get a clearer picture of the area by viewing rent trends in nearby cities.
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Frequently Asked Questions
What is the average rent in Troy?
The average rent in Troy is $1,470 per month, which is 11.6% lower than the national average of $1,662.
What is the average rent for a house in Troy?
The average rent for a house in Troy, MI is $2,790 per month.
What is the average rent for a condo in Troy?
The average rent for a condo in Troy, MI is $1,936 per month.
Are rents going up or down in Troy?
Rents in Troy, MI are increasing, with prices up 4.8% year-over-year and $72 more per month.
What rent range is most common in Troy?
In Troy, MI, 53% of apartments fall between $1,001 - $1,500/month, though prices may vary depending on location and other factors.
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.
* Percentages may not total 100 due to rounding.