Last updated
Average Rent in Troy, MI & Rent Trends
Rent prices and market trends across 1 apartment community in Troy, MI. Updated daily.
Market Average
$1,957/mo
▲ +0.4% from last month
Lowest Available
$1,876/mo
cheapest unit on market
Communities
1
tracked daily
Units Listed
4
available now
Is Rent Going Up or Down in Troy, MI?
As of May 2026, the average rent in Troy, MI is $1,957 per month across 1 apartment community and 4 available units. Rents have increased $9 (0.4%) over the past month.
The most affordable option is Uptown Square Apartments starting at $1,876/mo. By unit type, a 1-bedroom averages $1,957/mo.
Prices range from $1,876 to $2,001 per month. The most common price point is the $1,800 range, where 3 units are currently listed.
Troy, MI Rent Price History
Rent Price Distribution
Rent by Bedroom Type in Troy, MI
Rent Prices by Apartment in Troy, MI
| Property | Starting at | Average | Units | Rating |
|---|---|---|---|---|
| Uptown Square Apartments | $1,876/mo | $1,957/mo | 4 | 4.8 |
Google Search Trends for Troy, MI Apartments
Search interest for apartments in this area over the past 12 months.
Search Interest Over Time
Frequently Asked Questions About Rent in Troy, MI
What is the average rent in Troy, MI?
Is rent going up or down in Troy, MI?
What is the cheapest apartment in Troy, MI?
How much is a 1-bedroom apartment in Troy, MI?
How many apartments are available in Troy, MI?
What salary do I need to live comfortably in Troy, MI?
Built on the 25 to 30 percent rent-to-income guideline used by most landlords and credit-scoring models.
Minimum to afford average rent
$78,000/year
30 percent rule -- using our average rent of $1,957/mo.
Comfortable income
$94,000/year
25 percent rule -- leaves more room for savings, transport, and groceries.
To afford the cheapest tracked apartment ($1,876/mo), you need to earn at least $75,000/year.
Median household income in Troy, MI is $119,299 , about 27% above the comfortable-living threshold.
Cost of living in Troy, MI
Overall prices in Troy, MI runs below the national average by about 2% (BEA Regional Price Parity index 98.2, where 100 equals the U.S. average). The breakdown below estimates monthly costs for a single adult, using national consumer-spending baselines from the Bureau of Labor Statistics scaled by Troy, MI's regional price parities.
| Category | Monthly estimate |
|---|---|
| Rent (market average) | $1,957 |
| Utilities | $400 |
| Groceries | $529 |
| Transportation | $954 |
| Healthcare | $466 |
| Other goods and services | $745 |
| Estimated total | $5,051/mo |
Population
87,307
Median household income
$119,299
Census median rent
$1,557/mo
Rent as % of income
25.9%
Median age
42.2
Mean commute
25 min
Methodology
Rent data
Sourced directly from each tracked apartment community and refreshed every 24 hours. Every listed unit price on this page is real and listed today.
Cost of living
Estimates combine national consumer-spending baselines from the U.S. Bureau of Labor Statistics (Consumer Expenditure Survey) with the U.S. Bureau of Economic Analysis Regional Price Parities (MARPP dataset). Both are peer-reviewed federal data releases published annually.
Salary to live comfortably
Applies the standard 25 to 30 percent rent-to-income rule on top of the listed rent. This is the same affordability guideline used by most landlords and credit-scoring models.
Demographic figures
Median household income, population, median age, commute time, Census median rent, and rent as percentage of income come from the U.S. Census Bureau's American Community Survey 5-year estimates, the most recent complete release.
Cost of living and demographic figures were last published in 2023.
Explore Troy, MI Apartments
Browse all 1 communities with daily-updated pricing and availability.