Troy, MI Real Estate
According to census data in the year 2000 there were 30,872 housing units in Troy.
This represents a 13.5% growth from 27,197 in 1990.
Of those housing units, 30,872 were located in either urbanized areas or urban clusters, and none were located in what is classified as a rural area.
Homeownership rate in Troy is about 77.4%.
Troy's vacancy rate, including seasonal lodging, is about 2.8%.
Average household size is 2.69 people.
The majority of houses, apartments or condos in Troy were built after 1975.
Statistics
Housing Size
| Housing Units by Size |
|---|
| Studio Type | 0.80% |
| One Bedroom | 10% |
| Two Bedrooms | 16.60% |
| Three Bedrooms | 36.40% |
| Four Bedrooms | 33.90% |
| Five Bedrooms or more | 2.20% |
Owned Homes, Apartments and Condos
| Average Household Size | 2.91 |
| Median year structure was built | 1975 |
| Median Value of occupied units | $219,800 |
| Median Price asked for vacant units | $214,100 |
Rented Homes, Apartments and Condos
| Average Household Size | 1.92 |
| Median year structure was built | 1973 |
| Median Monthly Rent asked for vacant units | $737 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 0.30% |
| Second Mortgage | 5.10% |
| Home Equity Loan | 13.50% |
| Simple Mortgage | 59.20% |
| Debt Free | 21.90% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 17.3% |
