Houses & Townhomes for Rent in Troy, MI

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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 March 2025, Troy's rental market is competitive, with strong renter demand causing quick leasing times for well-priced units. Troy's average rent is 9.5% ($131) lower than the Michigan average of $1,376 and 30.4% ($543) lower than the U.S. average of $1,788.

Average Rent
$1,245
Monthly ChangeMonth Over Month Change
Decreased41.1% ($869)
Yearly ChangeYear Over Year Change
Decreased29.4% ($518)
Avg. Days on MarketAverage Days on Market
37
Unit Type Average Rent Monthly ChangeMonth Over Month Change Yearly ChangeYear Over Year Change
1 Bed $943 Decreased39% ($604) Decreased18.9% ($220)
2 Beds $1,233 Decreased36.9% ($722) Decreased16.1% ($237)
3 Beds $1,579 Decreased39.1% ($1015) Decreased19.1% ($372)
Nearby Cities Average Rent Avg. Rent vs. TroyAverage Rent vs. Troy Avg. Days on MarketAverage Days on Market
Clawson $1,453 Increased16.7% ($208) 32 days
Birmingham $1,770 Increased42.2% ($525) 32 days
Sterling Heights $1,388 Increased11.5% ($143) 41 days
Bloomfield Hills $3,460 Increased177.9% ($2215) 33 days
Royal Oak $1,407 Increased13% ($162) 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 $1,245 per month.
Houses in Troy typically rent for between $660 and $2,053 per month, with an average of $1,245 per month.
In Troy, the average rent for a 1-bedroom house is $943 per month, for a 2-bedroom house, $1,233 per month, and a 3-bedroom house is $1,579 per month.
The average rent in Troy is 30.4% ($543) lower than the national average of $1,788 per month.
The average rent in Troy has decreased by 41.1% ($869) in the last month and decreased by 29.4% ($518) 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 17 rental properties available in Troy, MI.
Based on the current averages, a household would need an annual income of $49,320 to comfortably afford a 2-bedroom house in Troy.
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