Here's what it costs to live in Troy, Michigan, based on the latest US government data. Renters pay a median of $1,602 per month, while the typical home is valued around $420,300. Households earn a median of $120,045 per year, leaving rent at a manageable share of income for many residents. Below: housing costs, local wages by occupation, neighborhoods, climate, jobs and major industries, and healthcare access — all drawn from US Census, BEA, BLS, HUD, EPA, and NOAA data.
$120,045
Median Income / yr
Census ACS
$1,602
Median Rent / mo
Census ACS
$420,300
Median Home Value
Census ACS
N/A
Cost of Living Index
1BR Fair Market Rent
N/A
HUD · FY2024
2BR Fair Market Rent
N/A
HUD · FY2024
3BR Fair Market Rent
N/A
HUD · FY2024
Fair Market Rent is the 40th percentile of gross rents in the metro area · HUD FY2024
| Occupation | Median Annual Wage |
|---|---|
| Software Developer | N/A |
| Registered Nurse | N/A |
| Elementary Teacher | N/A |
| Electrician | N/A |
| Accountant | N/A |
| Plumber | N/A |
| Nurse Practitioner | N/A |
| Civil Engineer | N/A |
| Operations Manager | N/A |
| Market Research Analyst | N/A |
| Health Services Manager | N/A |
| Truck Driver | N/A |
| Physician Assistant | N/A |
| Surgeon | N/A |
| Data Scientist | N/A |
| Computer Engineer | N/A |
Source: BLS OEWS 2023 (metro-level data)
Population
87,898
Latest estimate
Median Age
42 yrs
Census ACS
AQI data not available
Source: EPA AirNow
Total Neighborhoods
4
Tracked in our database
Avg Walk Score
N/A
0–100 scale
Avg Median Rent
$1,562
Per month
Avg Home Value
$379,000
Census ACS
| Neighborhood | Walk Score | Median Rent | Home Value |
|---|---|---|---|
| ZIP 48083 | — | $1,259 | $284,200 |
| ZIP 48084 | — | $1,542 | $395,400 |
| ZIP 48085 | — | $1,858 | $368,600 |
| ZIP 48098 | — | $1,590 | $467,800 |
January Avg
24°F
July Avg
75°F
Sunny Days / Year
—
Annual Snowfall
—
Climate category: Continental · Source: NOAA/NCEI 30-year normals.
Healthcare Score
32.5
poor
Hospitals
1
Doctors per 1,000
1.00
Insurance Coverage
97.2%
The cost of living index for Troy is not yet available.
The median gross rent in Troy is $1,602 per month according to US Census ACS data.
The median household income in Troy is $120,045 per year.
The median home value in Troy is $420,300 based on the latest Census ACS survey.
Air quality data for Troy is not yet available.
Tax data for Michigan is not yet available.
Data last updated: June 1, 2026 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology
