Apartments for Rent in Troy, MI

Prices and availability in Troy, MI were last updated on 14 Jul 2026.

The best apartments in Troy, MI are: Three Oaks Apartments, Forum Flats, The Gables of Troy, Regents Club of Troy and Somerset Park.

The average rent in Troy, MI is $1,548.

The price range for a studio apartment in Troy, MI is between $1,305 and $2,070.

The price range for a 1-bedroom apartment in Troy, MI is between $1,240 and $2,847.

The price range for a 2-bedroom apartment in Troy, MI is between $1,249 and $4,042.

The price range for a 3-bedroom apartment in Troy, MI is between $1,500 and $4,158.

In Troy 27% of the housing is rented out compared to 73% of homes are owned, according to the most recent Census Bureau estimates. 17% of Troy's apartments are found in large buildings of 50 units or more, 67% are located in smaller apartment complexes with less than 50 units, and 17% are single-family rentals.

The age and size of multifamily buildings are among the most visible characteristics of the rental market in a city. In this case, the apartment buildings in Troy are about 49 years old, on average. Of these, 10% have been built since 2000, representing the newer options on the market and typically offering more amenities. Rental buildings in the city have an average height of 4 stories. About 88% of the rental communities here are low-rise, garden-style communities, 7% are mid-rises, and 10% are high-rise buildings. These are true especially for large-scale multifamily buildings with over 50 apartments.

Rental apartments in Troy come in a range of sizes and floorplans. Studio apartments represent 2% of units for rent, ideal for singles, renters on a budget and people who value central locations more than space. Rentals with 1-bedroom floorplans make up 44% of the total apartments in the city, while 2-bedroom floorplans represent around 47% of all rentals in Troy. The rest are larger floorplans with 3 bedrooms or more, typically preferred by families, larger households or roommates sharing space.