Renter Resources
Don't Sign the Lease Until You Understand These Clauses
One word in your lease can cost you hundreds or save you from a nightmare. Here's how to turn legalese into clear decisions before you sign.
•10 min read
Viewing 1 of 1 rentals in 48085
What to Know About
Life in Troy & Beyond
Troy shares many of the great qualities that make Michigan a desirable place to live.
Michigan is bordered by four Great Lakes, making it a popular destination for boating and water activities. Michigan is also home to many national parks, including Isle Royale National Park and Sleeping Bear Dunes National Lakeshore. Explore the state's rich heritage through visits to renowned museums such as the Henry Ford Museum and the Michigan Historical Museum or get an excellent education at top universities like Michigan State University and the University of Michigan. In addition, Michigan boasts a robust economy in the manufacturing, technology, and tourism industries.
The state provides numerous opportunities for thrills and excitement. From soaking in the stunning views of the Great Lakes to hitting the ski slopes in the nearby mountains, outdoor enthusiasts will find plenty to love. Additionally, Michigan is home to several sports teams, including the Detroit Lions (NFL), Detroit Red Wings (NHL), Detroit Tigers (MLB), and Detroit Pistons (NBA). Explore famous attractions like Mackinac Island, the Detroit Institute of Arts, and scenic Mackinaw City.
Michigan offers a high quality of life, a strong economy, and a welcoming community, making it a great place to live.
Rental Market Trends
Troy, MI
As of August 2025, Troy's rental market is competitive, with strong renter demand causing quick leasing times for well-priced units. Troy's average rent is 6.3% ($87) lower than the Michigan average of $1,383 and 27.6% ($494) lower than the U.S. average of $1,790.
Average Rent
$1,296
Monthly ChangeMonth Over Month Change
9.9% ($142)
Yearly ChangeYear Over Year Change
26.9% ($476)
Avg. Days on MarketAverage Days on Market
37
| Unit Type | Average Rent | Monthly ChangeMonth Over Month Change | Yearly ChangeYear Over Year Change |
|---|---|---|---|
| 1 Bed | $975 | No change | 38% ($598) |
| 2 Beds | $1,344 | 1.8% ($24) | 25.9% ($470) |
| 3 Beds | $1,729 | 27.1% ($644) | 31.3% ($786) |
| Nearby Cities | Average Rent | Avg. Rent vs. TroyAverage Rent vs. Troy | Avg. Days on MarketAverage Days on Market |
|---|---|---|---|
| Clawson | $1,397 | 7.8% ($101) | 32 days |
| Birmingham | $1,701 | 31.3% ($405) | 32 days |
| Sterling Heights | $1,831 | 41.3% ($535) | 41 days |
| Bloomfield Hills | $1,451 | 12% ($155) | 33 days |
| Royal Oak | $1,393 | 7.5% ($97) | 74 days |
Rental market trends are calculated using listing data from RentalSource.
Frequently Asked Questions
Troy Rental Market FAQs
Explore rental prices, market trends, and availability in Troy, MI.
The average rent in Troy, MI is $1,296 per month.
Houses in Troy typically rent for between $683 and $2,248 per month, with an average of $1,296 per month.
In Troy, the average rent for a 1-bedroom house is $975 per month, for a 2-bedroom house, $1,344 per month, and a 3-bedroom house is $1,729 per month.
The average rent in Troy is 27.6% ($494) lower than the national average of $1,790 per month.
The average rent in Troy has decreased by 9.9% ($142) in the last month and decreased by 26.9% ($476) over the past year.
The rental market in Troy, MI, is currently competitive, with strong renter demand causing quick leasing times for well-priced units.
In Troy, MI, the average rental stays on the market for approximately 37 days. While most properties are rented within this timeframe, factors like seasonality, demand, and property type can affect how quickly a rental leases.
There are currently 9 rental properties available in Troy, MI.
Based on the current averages, a household would need an annual income of $53,760 to comfortably afford a 2-bedroom house in Troy.
