The Gables of Troy
500 Coachman Dr,
Troy, MI 48083
1-2 Beds | $1,200 - $1,549
Rental Market Trends in Troy, MI
What is the average rent in Troy, MI?
$1,457/month
Average Rent
819 Sq Ft
Average Apartment Size
+2.1%
Increase in the Last Year
As of February 2025, the average rent in Troy, MI is $1,457 per month. For comparison, the national average rent price in the US is currently $1,557/month, which means Troy rent prices are 6% lower than the national average. When you rent an apartment in Troy, you can expect to pay about $1,299 per month for a studio, $1,457 for a one-bedroom apartment, and around $1,719 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $2,197 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Troy, MI?
In the past year, rent has increased by 2.1%, which averages out to $31 more per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated February 2025
Legend
2024
2025
Rent Ranges in Troy, MI
Last Updated February 2025
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
0%
Below $700/month
13%
$700 - $1,000/month
39%
$1,001 - $1,500/month
29%
$1,501 - $2,000/month
19%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Troy?
Based on current rent prices, Downtown Troy, The Smart Zone and Maple Road are the most affordable neighborhoods in Troy.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Troy?
Based on current rent prices, Maple Road, The Smart Zone and Downtown Troy are the most expensive neighborhoods in Troy.
Neighborhood
Average Rent
Average Sq Ft
Which Troy neighborhoods have the most rentals available?
The neighborhoods in Troy with the most apartments available are Downtown Troy, Maple Road and The Smart Zone .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Troy, MI?
Because the average rent in Troy is $1,457, you’ll want to make about $4,856 per month or $58,272 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
Cost of Living
The cost of living in Troy, MI is 5.5% higher than the national average. Generally, housing in Troy is 9.6% more expensive than the national average, with rent falling between $1,299 - $2,197. You can expect to pay 0.6% more for groceries, 5.0% less for utilities, and 1.2% less for transportation.
How does Troy, MI compare to other nearby cities and neighborhoods?
Use the tool below to compare Troy, MI to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Studio
$1,596/month
$1,617/month
One Bedroom
$1,731/month
$1,503/month
Two Bedroom
$1,999/month
$2,008/month
Three Bedroom
$2,435/month
$2,342/month
Nearby City Rent Trends
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Methodology
† Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
* Percentages may not total 100 due to rounding.