Troy is a substantial city of about 87,000 people in Michigan, with a price point above the national middle.
| State | Michigan |
|---|---|
| Population | 87,000 |
| Median home value | $370,000 |
| Active listings | 25 |
| Median across Michigan communities we track | $315,000 |
The Troy housing market
At $370,000, the median home value sits about 17% above the median of the 14 communities we track in Michigan.
Inventory is thin — roughly 25 active listings at last count. In a market this small, a single well-priced listing can draw multiple offers, and waiting for more selection often means waiting months.
Search homes in Troy
Current listings for Troy are maintained on the following site:
- Luxury homes for sale in Troy — troyluxuryhomes.com
These are external sites operated independently of 1PropertyHub. We do not control their listings, pricing, or availability, and we are not a party to any transaction arising from them.
Buying in Troy
At this level, the appraisal is worth watching. Contract prices in appreciating submarkets regularly run ahead of the closed sales an appraiser has to work from.
Before you make an offer, work out what the monthly payment actually looks like at this price level. Our mortgage calculator includes property tax, insurance, and mortgage insurance rather than just principal and interest, and the affordability calculator solves backwards from your income to a purchase price a lender would support. If you are weighing a purchase against continuing to rent, the rent vs buy calculator accounts for transaction costs on both ends.
Investing in Troy
For rental investors, the questions here are rent-to-price ratio, the property tax burden, insurance cost, and the depth of the tenant pool at this population size. Underwrite with honest vacancy, management, maintenance, and capital reserves rather than rent minus mortgage — see our cash flow calculator and the rental underwriting guide. Verify short-term rental rules with the municipality before assuming any STR strategy will be permitted.
Nearby communities in Michigan
- Farmington Hills, MI
- Rochester Hills, MI
- Southfield, MI
- Royal Oak, MI
- East Lansing, MI
- Holland, MI
- Port Huron, MI
- Wyandotte, MI
Frequently asked questions
What is the median home value in Troy, MI?
The median home value in Troy is approximately $370,000. At $370,000, the median home value sits about 17% above the median of the 14 communities we track in Michigan. Values move with the market and vary widely by neighborhood, condition, and lot — treat this as a starting point and verify against recent closed sales before pricing an offer.
How many homes are for sale in Troy?
There were roughly 25 active listings at last count. Inventory is thin — roughly 25 active listings at last count. In a market this small, a single well-priced listing can draw multiple offers, and waiting for more selection often means waiting months. For current inventory, see Luxury homes for sale in Troy.
What should I know before buying in Troy?
At this level, the appraisal is worth watching. Contract prices in appreciating submarkets regularly run ahead of the closed sales an appraiser has to work from. Beyond the property itself, confirm the property tax rate and any exemptions with the county assessor, and get an insurance quote before you are under contract — both vary far more by location than buyers expect. Our Michigan state guide covers closing practice and property law.