Troy, MI Rental Market Trends
What is the average rent in Troy?
The average rent for an apartment in Troy is $1,603. The cost of rent varies depending on several factors, including location, size, and quality.
Average rent in Troy, MI
Last updated April 2025
| Average Rent | Average Apartment Size |
|---|---|
| $1,603 | 1,012 sq. ft. |
What is the average apartment size in Troy?
The average size for a Troy, MI apartment is 1,012 square feet, but this number varies greatly depending on unit type, with cheap and luxury alternatives for houses and apartments alike. Studio apartments are the smallest and most affordable, 1-bedroom apartments are closer to the average, while 2-bedroom apartments and 3-bedroom apartments offer a more generous square footage.
Troy, MI apartment rent ranges
Troy, MI Occupied Housing Units
8,620 or 26% of the households in Troy, MI are renter-occupied while 24,749 or 74% are owner-occupied.
Troy, MI rent trends
Average Rent in Troy, MI By Neighborhood
| City | Average Rent |
|---|---|
| Birmingham | $3,030 |
| Ferndale | $2,262 |
| Novi | $1,640 |
| Rochester Hills | $1,593 |
| Auburn Hills | $1,545 |
| Royal Oak | $1,535 |
| Farmington Hills | $1,469 |
| Southfield | $1,395 |
| Rochester | $1,387 |
| South Lyon | $1,349 |
| Walled Lake | $1,302 |
| Oak Park | $1,274 |
| Farmington | $1,245 |
| Pontiac | $1,198 |
| Madison Heights | $1,164 |
| Clawson | $1,153 |
| Wixom | $1,127 |
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What are the most affordable neighborhoods in Troy?
The most affordable neighborhoods in Troy are Wixom, where the average rent goes for $1,127/month, Clawson, where renters pay $1,153/mo on average, and Madison Heights, where the average rent goes for $1,164/mo. If you’re looking for other great deals, check out the listings from Pontiac ($1,198), Farmington ($1,245), and Oak Park ($1,274), where the asking prices are below the average Troy rent of $1,603/mo.
What are the most expensive neighborhoods in Troy?
The most expensive neighborhoods in Troy are Novi ($1,640), Ferndale ($2,262) and Birmingham ($3,030).
What are the most popular neighborhoods in Troy?
The most popular neighborhood in Troy is Southfield, where there are 32 listings with an average rent of $1,395. Next up is Farmington Hills, where apartments go for $1,469/month, followed by Novi with $1,640 If you’re looking to rent in Troy’s most popular neighborhoods, make sure to also check out Rochester Hills, where renters pay $1,593 on average, and Pontiac, where the average monthly rent is $1,198.
Troy | Rent Comparison by Neighborhood
Rent in Auburn Hills is 49% lower than in Birmingham
$1,545
Auburn Hills rent is 4% lower than Troy average
Average Rent
$1,545
$3,030
Birmingham rent is 89% higher than Troy average
Average Rent
$3,030
How Troy Compares to Other Cities
| State | Average Rent |
|---|---|
| Troy | $1,603 |
| Detroit | $1,335 |
| Grand Rapids | $1,568 |
| Ann Arbor | $2,087 |
| Lansing | $1,198 |
| East Lansing | $1,743 |
| Kalamazoo | $1,303 |
| Southfield | $1,395 |
| Ypsilanti | $1,303 |
| Farmington Hills | $1,469 |
| Westland | $1,132 |
| Royal Oak | $1,535 |
| Novi | $1,640 |
| Sterling Heights, MI | $1,241 |
| Pontiac, MI | $1,198 |
| Ferndale, MI | $2,262 |
| Livonia, MI | $1,428 |
| Rochester Hills, MI | $1,593 |
| Auburn Hills, MI | $1,545 |
| Warren, MI | $1,083 |
| Oak Park, MI | $1,274 |
What is the average price for a storage unit in Troy?
The average rent for a non-climate-controlled 10'x10' storage unit in Troy is $108.6. Rental costs vary depending on several factors, including unit size and the storage facility's location and amenities.
Most Popular Apartments in Troy
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The Westington
The Westington 3965 Westcreek Drive, Troy, MI 48084| STUDIO | $1,450 |
| 1 BED | $1,650 |
| 2 BEDS | $1,600 |
The Alcove Troy
2600 Livernois, Troy, MI 48083| STUDIO | $995 |
| 1 BED | $1,445+ |
| 2 BEDS | N/A |
Residences Of Troy Apartments - Troy, MI
2869 Troy Center Dr, Troy, MI 48084| 1 BED | $1,320+ |
| 2 BEDS | $1,500+ |
| 3 BEDS | $2,025+ |