Troy, Michigan.
Typical home $454,091 (+1.9% in a year), asking rent $1,854 (+3.4%). Detroit-Warren-Dearborn, MI metro.
to buy the typical home at today's mortgage rate — +$1,246 (+109%) since Jan 2020.
- 1 year
- Up $8,514 +2%
- $445,577$454,091 since Sep 2025
- 5 years
- Up $90,806 +25%
- $363,285$454,091 since Sep 2021
Monthly payment to buy the typical home
Home value × that month's 30-year mortgage rate, 20% down, principal and interest. This is the line households feel: prices and rates compound each other.
- Troy$2,383
- Michigan$1,384
- United States$1,922
At the last five years' pace, a typical home here doubles in price every 16 years.
Typical home values in Troy, MI rose 1.9% over the past year — faster than the nation's +1.2%.
Asking rents in Troy, MI rose 3.4% over the past year — faster than the nation's +2.7%.
Owning the typical home in Troy runs $1,497/mo more than renting one — the widest that gap has been in this data.
That is $3,351 a month against $1,854 rent: a $2,383 mortgage payment, plus $481 property tax and $486 insurance & upkeep.
Owning vs renting — Troy
The owning line is the typical home's monthly payment at that month's rate, plus property tax and insurance & upkeep; the renting line is the typical asking rent; the grey line is the mortgage payment on its own. Same homes, same months, both ways of paying for a roof.
- Owning all in$3,351
- Renting$1,854
- Mortgage only$2,383
Property tax · $481/mo 1.27% of value a year — the ACS 2020-2024 median bill over the median home value for Oakland County, MI
Insurance & upkeep · $486/mo insurance, maintenance and repairs together, from the BLS Consumer Expenditure Survey — the national figure for mortgaged homeowners, scaled to this market's home value. BLS publishes the three bundled and they cannot be split.
Both are priced off the same month's home value, so they rise with the market. Neither is a quote — a specific home's bill depends on its assessment, its age and its insurer.
Living in Troy, Oakland County, Michigan
Troy is a city of 87,294 people in Oakland County. Half its households earn more than $120,045 a year and half less, against $97,760 across Oakland County; 5% of its people live below the poverty line. 73% of its homes are lived in by their owners and 27% are rented. Unemployment in Troy was 4.0% in August 2026, and Oakland County had 0.5% fewer jobs in 2025 than the year before. The most residents work in schools and health care, then manufacturing.
Written by AI Claude Sonnet 5.5 wrote this on 23 October 2026 from the figures here, a list of nearby places and what it knows. It can be wrong or out of date.
What it’s like
The place. Troy is a city in Oakland County, and it is a place where most households own the homes they live in. Incomes run well above the county's, relatively few people live below the poverty line, and a large majority of adults hold a four-year degree. Winters are cold and snowy, with January the coldest month, and summers turn warm by July, with a fair amount of rain and melted snow through the year.
Work. Many residents work in schools, hospitals and social care, with manufacturing, professional and business services, and banking, insurance and property also employing a good number. Corewell Health- Troy, Henry Ford Troy - Maple Road and the Troy School District are among the largest workplaces in the city. Unemployment has edged up over the past year, and across Oakland County there are slightly fewer jobs than a year earlier.
Things to do. The Detroit Zoo and the Pontiac Silverdome stadium are both a short drive away, and the River Rouge is close by too. For a longer outing, the Detroit Institute of Arts is an art museum a longer drive away, and Lake Saint Clair is a lake that also takes a longer drive to reach.
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- 33,372households
- 65%of adults have a degree
- 5%below the poverty line
- 24 mintypical commute
- 22%work from home
What residents work in
Employed residents by industry, from the Census survey. Oakland County had 720,266 jobs in 2025, 0.5% fewer than the year before (Bureau of Labor Statistics).
Weather through the year
Coldest in January, with highs near 31° and lows near 17°; warmest in July, with highs near 82° and lows near 63°. About 36 inches of snow and 34 inches of rain and melted snow a year.
Average daily high and low, 1991–2020, at the Pontiac Wwtp weather station, 7 miles away (NOAA).
Largest workplaces in Troy
- Corewell Health- TroyGeneral hospital3,765FTE
- Henry Ford Troy - Maple RoadCentralized administrative offices2,057
- Troy School DistrictSchool district1,578FTE
- IconmaTemporary employment services1,330
- Cody DavisElectric contracting962
- City of TroyGeneral public administration699
- CDBS TroyManufacture of motor truck components671
- Troy Customer Care CTRMail and parcel delivery536
Staff on average in 2025, as each workplace reported it to OSHA with its injury records: 139 workplaces with 20 or more staff, 26,419 people in all. Hospitals come from their Medicare cost reports (CMS, 2023) and school districts from the Common Core of Data (NCES, 2023–24); FTE marks full-time equivalent staff. Not listed: many offices and banks, which need not report to OSHA; military bases, whose staff OPM withholds; and, in about half the states, city and county governments.
Natural hazards
- TornadoesRelatively high
- Ice stormsRelatively moderate
- Cold wavesrelatively high in parts of TroyRelatively moderate
- Strong windRelatively moderate
FEMA’s National Risk Index (December 2025) rates the risk each natural hazard poses to the people, buildings and farms in Troy’s census tracts, against the rest of the country; all of them together, relatively low. It is meant for planning, not a substitute for a local risk assessment or a flood map: FEMA’s index.
From the U.S. Census Bureau’s 2020 census and its American Community Survey (2020–2024 five-year estimates), and the Bureau of Labor Statistics. A survey, so each figure has a margin of error, and figures it is not sure of are left out. More on Oakland County and the Detroit-Warren-Dearborn, MI metro.
Troy home values
Zillow measures a city over its municipal boundary. Against the state and national figures, mid-tier homes, smoothed and seasonally adjusted.
- Troy$454,091
- Michigan$263,760
- United States$366,157
Levy by levy, and a check of one home’s own bill, the site covers Ohio’s property tax.
Sellers are cutting prices on about 1 in 3 Troy listings, and the typical home goes pending in 22 days — the market is cooling.
When this market ran hot
Each cell is that month's year-on-year home-value growth. Read left to right, top row is the latest year — the 2021–22 band is the boom.
Market heat, inside the city limits
Share of listings with a price cut
The early-warning dial: sellers cut when buyers stop reaching. Rising cuts cool a market months before prices notice.
- Troy32.69%
- United States26.90%
Days to pending
How long the typical listing takes to go under contract.
- Troy22
- United States27
Homes for sale
Active for-sale inventory. More supply hands power to buyers.
- Troy260
New listings per month
Sellers arriving at the market.
- Troy95
Median sale price
What buyers actually paid — closed sales, not asking prices.
- Troy$409,952
- United States$371,407
Sale-to-list ratio
Above 100%, homes sell over asking; below, buyers negotiate wins.
- Troy100.21%
Zip codes with a Troy address
A different geography, not a breakdown. The figure above covers the municipality; these zips cover everywhere the Post Office calls Troy — often including townships beyond the city limits. Both come straight from Zillow, and they are not expected to average out.
Zip codes in Troy
| Zip activate to sort by Zip | Place activate to sort by Place | Population sorted descending, activate to sort ascending | Rent activate to sort by Rent | Home value activate to sort by Home value |
|---|---|---|---|---|
| 48085 | Troy | 27,231 | $2,586 | $456,871 |
| 48083 | Troy | 23,771 | $1,895 | $352,514 |
| 48098 | Troy | 20,936 | $2,414 | $584,080 |
| 48084 | Troy | 15,960 | $1,671 | $477,047 |