Troy, Michigan is a part of the Troy Submarket submarket area, and contains 6 zip codes: 48099, 48085, 48098, 48083, 48007, and 48084.
The 2019 average effective rent for Class A, B, and C apartments in the Troy, MI submarket area was $1,293, which is 13.72% higher than 2014 average rent. This represents a compounded annual growth rate of 2.60%. 2019 vacancy in Troy, MI was 2.00%.
The total population of the city of Troy, MI has grown 4.07% since 2010. As of 2018, the population was 84,272. The median household income of the Troy was $97,048, which is 60.96% higher than the national average.