Home Price Key
Affordable
Average
Expensive
These days, finding an affordable place to live in the Troy area can be challenging. Home prices in Troy are now at a median cost of $289,678, higher than the Michigan average of $196,062.
The average cost of rent is $1,540/mo in Troy, primarily driven by the current value of real estate in the Troy area. While nearly 34.11% of residents own their homes outright in Troy, 21.64% rent.
Housing affordability isn’t just about home prices, though. The average household income in Troy is $8,898 per month. Households that rent pay about 17.31% of their income on rent here. Troy's most expensive areas are in the northwestern regions, while the cheapest areas are in the southwestern parts of the city.
Nearby Cities
- Clawson, MI: less expensive homes
- Sterling Heights, MI: less expensive homes
- Madison Heights, MI: less expensive homes
- Royal Oak, MI: less expensive homes
- Birmingham, MI: higher priced homes
- Berkley, MI: less expensive homes
- Huntington Woods, MI: higher priced homes
- Warren, MI: less expensive homes
- Pleasant Ridge, MI: higher priced homes
- Beverly Hills, MI: higher priced homes
Cities with Similar Populations
- Yale, IA: less expensive homes
- Zion, AL: less expensive homes
- Zion Grove, PA: less expensive homes
- Zion, IA: less expensive homes
- Zion, KY: less expensive homes
- Yale, OK: less expensive homes
- Yale, OH: less expensive homes
- Zion, MS: less expensive homes
- Yale, KS: less expensive homes
- Zingara, GA: less expensive homes
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