New Troy, MI
Population 379 · Michigan
About New Troy, MI
New Troy is a small community located in Michigan with a population of 379 residents according to the latest US Census Bureau American Community Survey data. The median household income is $60,250 per year, which is 20% below the national median of $75,149. The median age of 33.9 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in New Troy features a median home value of $174,400, which is 29% below the national median of $244,900. This positions New Troy in a moderately priced market relative to the rest of the country. Median monthly rent is $975, 16% below the national average of $1,163/month. Of the 171 total housing units, 77% are owner-occupied (119 units) and 23% are renter-occupied (35 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in New Troy shows an unemployment rate of 0.0%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 29.1%, above the national average of 12.4%. Workers in New Troy have an average one-way commute time of 17.6 minutes, one of the shorter commutes in the region.
Education & Demographics
9.9% of New Troy residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 2.4% White, 3.4% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 1.6% of the population being foreign-born.
Cost of Living in New Troy, MI
Compared to national averages, New Troy has a median household income of $60,250 (20% below the national median of $75,149). Home values average $174,400, which is 29% below the national median. Monthly rent at $975 is 16% below the US average of $1,163. Within Michigan, New Troy's income is 9% below the state average of $66,017, and home values are 5% below the state median of $183,391.
Why Live in New Troy, MI?
New Troy offers affordable housing with a median home value of $174,400, below the US average of $244,900, and rent that’s lower than the national average at $975/month, and a strong job market with an unemployment rate of just 0.0%. Additionally, the city features short commute times averaging just 17.6 minutes.
Potential considerations include median household income ($60,250) that falls below the national average. However, New Troy’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
New Troy has a population of 379 with a median age of 33.9 years. Compare New Troy with other cities to see how it stacks up, or explore all cities in Michigan.
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Demographics
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Economy & Education
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Other Cities in Michigan
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about New Troy
What is the population of New Troy, MI?
The population of New Troy, MI is 379 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Michigan.
What is the median household income in New Troy?
The median household income in New Troy, MI is $60,250 per year, which is 20% below the national median of $75,149.
What is the median home value in New Troy?
The median home value in New Troy, MI is $174,400, which is 29% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in New Troy?
The median monthly rent in New Troy, MI is $975, which is 16% below the national average of $1,163/month.
What is the unemployment rate in New Troy?
The unemployment rate in New Troy, MI is 0.0%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is New Troy, MI a good place to live?
New Troy offers a moderate cost of living, affordable housing, and a strong job market. With a population of 379 and a median age of 33.9, the city appeals to young professionals and families.
How educated is New Troy, MI?
9.9% of residents in New Troy aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in New Troy?
Key cost-of-living indicators for New Troy, MI: median home value is $174,400 (29% below national), median rent is $975/month, and median household income is $60,250. The home-value-to-income ratio is 2.9x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in New Troy?
The poverty rate in New Troy, MI is 29.1%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is New Troy, MI?
New Troy's population is 2.4% White, 3.4% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.0% two or more races. 1.6% of residents are foreign-born.