Everything You Should Know Before Moving to Troy, MI
Thinking of moving to Troy, MI? With a population of 87,294, Troy offers a welcoming suburban lifestyle with top-rated schools and a highly educated community. Median home values are about $412,000 and average rents around $1,550, with an overall cost of living slightly above the national average. Crime rates are low, commutes are manageable at about 25 minutes, and residents enjoy diverse amenities, excellent healthcare, and a comfortable Midwestern climate. Explore Troy’s strong schools, safe streets, and vibrant neighborhoods to see if it’s your next home.
Demographics - Troy, MI
Troy is home to about 87,000 residents and features a diverse community, with nearly a quarter of its population identifying as Asian and a significant percentage speaking languages other than English. The city’s median age of 42 highlights a balanced mix of families and professionals, and the population density supports a vibrant suburban atmosphere.
Population:
87,294
Density:
2,600 per sq mi
Median Age:
42.3
Gender Ratio:
96 males per 100 females
Non-English Speakers Percentage:
22.4%
Ethnic Composition
White:
68.1%
Black:
4.9%
Asian:
23.9%
Others:
3.1%
Cost Of Living
What is the average cost of living in Troy, MI?
The cost of living in Troy is moderately higher than the national average, with median home values around $412,000 and average rents at $1,550 per month. Residents benefit from affordable utilities and steady state taxes, making the city attractive for those seeking quality amenities and stable housing costs.
Median House Value:
$412,000
Gross Rent:
$1,550
Monthly Electricity Charges:
$110
Auto Insurance:
$2,400
House Owner Cost With Mortgage:
$2,000
House Owner Cost Without Mortgage:
$660
State Taxes:
Low:
4.25%
|
High:
4.25%
Cost Of Living Index:
110.4
Grocery:
104.3
Housing:
120.8
Utilities:
99.7
Transportation:
105.8
Health Care:
101.5
Miscellaneous:
97.2
Crime
Is Troy, MI a safe place to live?
Troy boasts a low crime rate, offering peace of mind for residents, with violent crime substantially below national averages and property crime rates also relatively low. The chance of experiencing a violent crime is just 1 in 1,538, making Troy one of the safer cities in Michigan.
Violent Crimes Per 100k:
65
Property Crimes Per 100k:
1,050
Crime Index:
1,115
Chance Of Violent Crime:
1 in 1,538
Chance Of Property Crime:
1 in 95
Weather
What is the weather like in Troy, MI year-round?
Troy experiences the full range of seasons, from cold winters averaging lows of 19°F to warm summers peaking at 83°F. With about 52% sunny days and 32 inches of annual rainfall, residents enjoy a comfortable Midwestern climate suited for year-round outdoor activities.
Winter
Min:
19°F
Max:
33°F
Spring
Min:
39°F
Max:
63°F
Summer
Min:
61°F
Max:
83°F
Fall
Min:
43°F
Max:
66°F
Average Rainfall Inches:
32.3 inches
Sunny Days Percentage:
52%
Neighbors
Troy’s households enjoy a high median income of $112,000 and a low poverty rate under 5%, reflecting the city’s economic stability. The community is highly educated, with nearly two-thirds holding a bachelor’s degree or higher, and commutes average around 25 minutes.
Median Income:
$46,000
Household Income:
$112,000
Family Income:
$130,500
Per Capita Income:
$53,500
Income Male:
$71,000
Income Female:
$54,000
Poverty Rate:
4.3%
Non English Speakers:
22.4%
Rent:
$1,550
Unemployment Rate:
2.7%
Public Transport Usage:
1.1%
Commute Time:
25.6 minutes
Education
High School or Higher:
96.9%
Bachelors or More:
65.4%
Education
How are the schools in Troy, MI?
Troy is renowned for its top-rated public and private schools, with public institutions like Troy High School and strong options for K-12 and higher education nearby. The city’s focus on education is reflected in its high graduation rates and the presence of colleges such as Walsh College and Oakland University.
Public Schools
Name:
Troy High School
Street:
4777 Northfield Pkwy
Phone:
248-823-2700
Students:
2,050
Student Teacher Ratio:
19.5
Name:
Boulan Park Middle School
Street:
3570 Northfield Pkwy
Phone:
248-823-4900
Students:
900
Student Teacher Ratio:
16.2
Private Schools
Name:
Bethany Christian School
Street:
2601 John R Rd
Phone:
248-689-8895
Students:
310
Colleges
Name:
Walsh College
City:
Troy
State:
MI
Distance:
0 miles
Students:
2,000
Name:
Oakland University
City:
Rochester
State:
MI
Distance:
9 miles
Students:
17,000
Healthcare
Residents have access to excellent healthcare, including Beaumont Hospital, and benefit from a high rate of health insurance coverage at nearly 95%. With 3.2 physicians per 1,000 residents, Troy is well-served for both routine and emergency medical needs.
Major Hospitals
Name:
Beaumont Hospital, Troy
Address:
44201 Dequindre Rd, Troy, MI 48085
Phone:
(248) 964-5000
Type:
General & Surgical
Emergency Services:
Yes
Physicians Per 1000:
3.2
Health Insurance Coverage:
94.9%
Health Care Index:
76.2
Housing Market
What is the housing market like in Troy, MI?
Troy’s housing market is robust, with a median home price of $412,000 and a high owner-occupancy rate of nearly 74%. Home values have seen steady appreciation, and rental vacancies remain low, making both buying and renting viable options in this stable market.
Median Home Price:
$412,000
Average Rent For 2 Bedroom:
$1,550
Owner Occupied Rate:
73.8%
Rental Vacancy Rate:
4.2%
Home Appreciation Rate (1yr):
4.1%
New Construction Rate:
1.2%
Foreclosure Rate:
0.3%
DMV Information
Vehicle and licensing services in Troy are managed by the Michigan Secretary of State, with convenient access to statewide resources both online and at local offices. Residents can handle registrations, renewals, and other DMV needs efficiently through the state’s established systems.
State:
Michigan
Department:
Michigan Secretary of State
Address:
111 E. Kilgore Road, Kalamazoo, MI 49002
Phone:
1-888-767-6424
Website:
Disclaimer: The information provided on this page is based on publicly available sources including AccuWeather, U.S. Census Bureau, local government data, and third-party partners such as Neustar. While we strive to ensure accuracy, all data is provided “as is” and should be independently verified before making any decisions. Movers.com makes no guarantees regarding the completeness or reliability of the information.