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.


Housing Size

Housing Units by Size
Studio Type0.80%
One Bedroom10%
Two Bedrooms16.60%
Three Bedrooms36.40%
Four Bedrooms33.90%
Five Bedrooms or more2.20%
As % of Housing Units

Owned Homes, Apartments and Condos

Average Household Size2.91
Median year structure was built1975
Median Value of occupied units$219,800
Median Price asked for vacant units$214,100

Rented Homes, Apartments and Condos

Average Household Size1.92
Median year structure was built1973
Median Monthly Rent asked for vacant units$737

Owners Finance Status

Housing Finance
Second Mortgage & Equity Loan0.30%
Second Mortgage5.10%
Home Equity Loan13.50%
Simple Mortgage59.20%
Debt Free21.90%
As % of Housing Units
Median part of Monthly Household Income dedicated to covering home ownership costs17.3%