Apartments for Rent in Troy, MI

Prices and availability in Troy, MI were last updated on 5 Aug 2026.

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

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

The price range for a studio apartment in Troy, MI is between $1,460 and $2,070.

The price range for a 1-bedroom apartment in Troy, MI is between $1,140 and $2,893.

The price range for a 2-bedroom apartment in Troy, MI is between $1,249 and $3,642.

The price range for a 3-bedroom apartment in Troy, MI is between $1,460 and $3,976.

In Troy, 27% of the residents are renting compared to 73% owning a home, according to data from the U.S. Census Bureau. Large-scale apartment buildings with more than 50 units represent 17% of Troy's rentals, 67% are small-scale complexes with under 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.