Rentometer, Inc. | Data as of 10/23/2025
Troy, Michigan, offers a vibrant rental market that blends suburban comfort with easy access to Detroit’s metropolitan amenities. Prospective renters enjoy a diverse inventory ranging from modern studio apartments in the downtown core to spacious family homes nestled in established neighborhoods such as Oakwood and Taylorsville. The city’s well‑planned streets, highly rated schools, and abundant green spaces make it a top choice for professionals, students, and growing families alike. Proximity to major employers, the Troy Business Center, and popular destinations like the Troy Town Center further enhances its appeal.
Rental rates in Troy reflect the variety of housing options. Studio apartments typically sit in the $1400s, while one‑bedroom units are commonly found in the $1600s. Two‑bedroom apartments trend around the $1800s, and three‑bedroom units approach the $2300s. For those seeking more space, three‑bedroom houses generally rent in the $2500s, and larger four‑plus bedroom homes start in the $3400s, often exceeding the $3000 range for premium listings. These price points provide flexibility for renters with different budgets and lifestyle needs.
The city’s amenities complement its rental landscape, with easy access to parks such as the Troy Historic Village, cultural venues, and a thriving dining scene. Efficient public transportation and a network of bike lanes make commuting straightforward, while nearby highways connect residents to the greater Metro Detroit area. Whether you’re looking for a sleek apartment close to nightlife or a family‑friendly home in a quiet suburb, Troy’s rental market offers a well‑rounded selection that suits a wide range of preferences.
| Property Type | Bedrooms | Average | Median | Min - Max | 25th - 75th |
|---|---|---|---|---|---|
| Apartment | Studio | $1,404 | $1,492 | $895 - $1,690 | $1,145 - $1,608 |
| Apartment | 1 Bedroom | $1,621 | $1,607 | $995 - $2,160 | $1,346 - $1,891 |
| Apartment | 2 Bedroom | $1,864 | $1,845 | $950 - $3,150 | $1,499 - $2,150 |
| Apartment | 3 Bedroom | $2,385 | $2,319 | $1,575 - $3,800 | $2,175 - $2,638 |
| House | 2 Bedroom | $2,007 | $2,000 | $1,580 - $2,590 | $1,800 - $2,100 |
| House | 3 Bedroom | $2,502 | $2,500 | $1,250 - $4,400 | $2,200 - $2,800 |
| House | 4+ Bedroom | $3,404 | $3,000 | $1,900 - $9,000 | $2,650 - $3,500 |
In the current period, the average rent in Troy was $1,405 for Studio, $1,618 for 1 Bedroom, $1,879 for 2 Bedroom, $2,468 for 3 Bedroom, and $3,392 for 4+ Bedroom.
Data provided by Rentometer, Inc.