The Gables of Troy
500 Coachman Dr,
Troy, MI 48083
$1,230 - $1,570 Total Monthly Price
1-2 Beds
Rental Market Trends in Troy, MI
What is the average rent in Troy, MI?
$1,422/month
Average Rent
809 Sq Ft
Average Apartment Size
+0.5%
Increase in the Last Year
As of April 2026, the average rent in Troy, MI is $1,422 per month. For comparison, the national average rent price in the US is currently $1,641/month, which means Troy rent prices are 13% lower than the national average. When you rent an apartment in Troy, you can expect to pay about $1,481 per month for a studio, $1,422 for a one-bedroom apartment, and around $1,714 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $2,354 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Troy, MI?
In the past year, rent has increased by 0.5%, which averages out to $8 more per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated April 2026
Legend
2025
2026
Rent Ranges in Troy, MI
Last Updated April 2026
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
0%
Below $700/month
3%
$700 - $1,000/month
56%
$1,001 - $1,500/month
16%
$1,501 - $2,000/month
25%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Troy?
Based on current rent prices, Royal Coachman, The Smart Zone and Downtown Troy 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, Summit Park, Downtown Troy and The Smart Zone 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, Royal Coachman and The Smart Zone .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Troy, MI?
Because the average rent in Troy is $1,422, you’ll want to make about $4,740 per month or $56,880 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 5.8% higher than the national average. Generally, housing in Troy is 7.6% more expensive than the national average, with rent falling between $1,422 - $2,354. You can expect to pay 0.9% more for groceries, 4.8% 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.
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Three Bedroom
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Nearby City Rent Trends
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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 February 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.