Troy, Oakland County, MI Rental Market Trends
Highlights
The average rent for an apartment in Troy is $1,251, a 5% increase compared to the previous year, when the average rent was $1,186.
Average Rent in Troy, Oakland County, MI
| Average Rent | Y-o-Y Change | Average Apartment Size |
|---|---|---|
| $1,251 | 5% | 1,014 sq. ft. |
The average size for a Troy, Oakland County, MI apartment is 1,014 square feet, but this number varies greatly depending on apartment type. 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, Oakland County, MI Apartment Rent Ranges
- $701-$1,00020%
- $1,001-$1,50067%
- $1,501-$2,00011%
- > $2,0003%
Troy, Oakland County, MI Rent Trends
| Average Rent | Jan / 2016 | May / 2016 | Sept / 2016 | Jan / 2017 | May / 2017 | Sept / 2017 | Jan / 2018 | May / 2018 | Sept / 2018 | Jul / 2019 |
|---|---|---|---|---|---|---|---|---|---|---|
| Troy, Oakland County, MI | $1,086 | $1,123 | $1,157 | $1,208 | $1,199 | $1,210 | $1,186 | $1,192 | $1,248 | $1,251 |
| National | $1,290 | $1,319 | $1,334 | $1,329 | $1,354 | $1,366 | $1,366 | $1,381 | $1,396 | $1,430 |
Average Rent in Troy, Oakland County, MI By Neighborhood
| Average Rent | |||||
|---|---|---|---|---|---|
| Neighborhood | Average Rent | ||||
| Hazel Park | $629 | ||||
| Wixom | $722 | ||||
| Pontiac | $815 | ||||
| Clawson | $839 | ||||
| Sylvan Lake | $861 | ||||
| Keego Harbor | $861 | ||||
| Lake Orion | $862 | ||||
| Holly Village | $872 | ||||
| South Lyon | $888 | ||||
| Berkley | $888 | ||||
| Madison Heights | $905 | ||||
| Orchard Lake Village | $911 | ||||
| Oak Park | $916 | ||||
| Oxford Village | $961 | ||||
| Royal Oak | $985 | ||||
| Southfield | $1,035 | ||||
| Village Of Clarkston | $1,035 | ||||
| Farmington | $1,053 | ||||
| Franklin | $1,059 | ||||
| Bingham Farms | $1,059 | ||||
| Beverly Hills | $1,059 | ||||
| Lathrup Village | $1,098 | ||||
| Wolverine Lake | $1,111 | ||||
| Walled Lake | $1,111 | ||||
| Lake Angelus | $1,118 | ||||
| Auburn Hills | $1,118 | ||||
| Farmington Hills | $1,123 | ||||
| Rochester Hills | $1,156 | ||||
| Rochester | $1,166 | ||||
| Novi | $1,189 | ||||
| Birmingham | $1,678 | ||||
The most affordable neighborhoods in Troy are Hazel Park, where the average rent goes for $629/month, Wixom, where renters pay $722/mo on average, and Pontiac, where the average rent goes for $815/mo. If you’re looking for other great deals, check out the listings from Clawson ($839), Keego Harbor ($861), and Sylvan Lake ($861), where the asking prices are below the average Troy rent of $1,251/mo.
The most expensive neighborhoods in Troy are Rochester ($1,166), Novi ($1,189) and Birmingham ($1,678).
Troy | Rent Comparison by Neighborhood
Rent in Auburn Hills is 26% higher than in Berkley
Auburn Hills rent is 11% lower than Troy average
| Average Rent | $1,118 |
|---|
Berkley rent is 29% lower than Troy average
| Average Rent | $888 |
|---|
How Does Troy Compare to Nearby Cities
| Average Rent | Y-o-Y Change | |
|---|---|---|
| Southfield | $1,035 | 4% |
| Farmington Hills | $1,123 | 4% |
| Pontiac | $815 | 7% |
| Novi | $1,189 | 4% |
| Rochester Hills | $1,156 | 4% |
| Royal Oak | $985 | 3% |
| Madison Heights | $905 | 5% |
| Auburn Hills | $1,118 | n/a |
| Troy | $1,251 | 5% |
| Wixom | $722 | 8% |
For more information about the Troy rental trends, check out our monthly rent report