Troy, MI Rental Market Trends
What is the average rent in Troy?
The average rent for an apartment in Troy is $1,509. The cost of rent varies depending on several factors, including location, size, and quality.
Average rent in Troy, MI
| Average Rent | Average Apartment Size |
|---|---|
| $1,509 | 1,025 sq. ft. |
What is the average apartment size in Troy?
The average size for a Troy, MI apartment is 1,025 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
8,073 or 26% of the households in Troy, MI are renter-occupied while 23,587 or 74% are owner-occupied.
Troy, MI rent trends
Average Rent in Troy, MI By Neighborhood
| Neighborhood | Average Rent |
|---|---|
| Birmingham | $2,125 |
| Ferndale | $1,841 |
| Novi | $1,528 |
| Village Of Clarkston | $1,493 |
| Rochester Hills | $1,491 |
| Rochester | $1,475 |
| Walled Lake | $1,414 |
| Wolverine Lake | $1,414 |
| Lathrup Village | $1,411 |
| Auburn Hills | $1,405 |
| Lake Angelus | $1,405 |
| Royal Oak | $1,383 |
| Farmington Hills | $1,370 |
| Beverly Hills | $1,358 |
| Bingham Farms | $1,358 |
| Franklin | $1,358 |
| Farmington | $1,273 |
| Southfield | $1,237 |
| Oak Park | $1,219 |
| South Lyon | $1,217 |
| Berkley | $1,170 |
| Wixom | $1,143 |
| Lake Orion | $1,136 |
| Orchard Lake Village | $1,133 |
| Oxford Village | $1,124 |
| Keego Harbor | $1,110 |
| Sylvan Lake | $1,110 |
| Clawson | $1,090 |
| Holly Village | $1,059 |
| Madison Heights | $1,056 |
| Pontiac | $1,018 |
| Hazel Park | $741 |
What are the most affordable neighborhoods in Troy?
The most affordable neighborhoods in Troy are Hazel Park, where the average rent goes for $741/month, Pontiac, where renters pay $1,018/mo on average, and Madison Heights, where the average rent goes for $1,056/mo. If you’re looking for other great deals, check out the listings from Holly Village ($1,059), Clawson ($1,090), and Keego Harbor ($1,110), where the asking prices are below the average Troy rent of $1,509/mo.
What are the most expensive neighborhoods in Troy?
The most expensive neighborhoods in Troy are Novi ($1,528), Ferndale ($1,841) and Birmingham ($2,125).
What are the most popular neighborhoods in Troy?
The most popular neighborhood in Troy is Southfield, where there are 28 listings with an average rent of $1,237. Next up is Farmington Hills, where apartments go for $1,370/month, followed by Royal Oak with $1,383 If you’re looking to rent in Troy’s most popular neighborhoods, make sure to also check out Novi, where renters pay $1,528 on average, and Rochester Hills, where the average monthly rent is $1,491.
Troy | Rent Comparison by Neighborhood
Rent in Auburn Hills is 20% higher than in Berkley
Auburn Hills rent is 7% lower than Troy average
| Average Rent | $1,405 |
|---|
Berkley rent is 22% lower than Troy average
| Average Rent | $1,170 |
|---|
How Troy Compares to Other Cities
| City | Average Rent |
|---|---|
| Grand Rapids | $1,391 |
| Ann Arbor | $1,865 |
| Detroit | $1,176 |
| East Lansing | $1,400 |
| Lansing | $1,023 |
| Southfield | $1,237 |
| Kalamazoo | $1,199 |
| Ypsilanti | $1,390 |
| Farmington Hills | $1,370 |
| Royal Oak | $1,383 |
| Novi | $1,528 |
| Rochester Hills | $1,491 |
| Westland | $1,078 |
| Sterling Heights | $1,163 |
| Pontiac | $1,018 |
| Troy | $1,509 |
| Warren | $950 |
| Ferndale | $1,841 |
| Auburn Hills | $1,405 |
| Madison Heights | $1,056 |
| Roseville | $903 |
Most Popular Apartments in Troy
Troy Place Apartments
2869 Troy Center Dr, Troy, MI 48084- 1 BED
- 2 BEDS
- 3 BEDS
- $1,274+
- $1,299+
- $1,649
Uptown Square Apartments
1300 Livernois Road, Troy, MI 48083- Studio
- 1 BED
- 2+ BEDS
- $1,617+
- $1,606+
- $1,883+