Troy, MI
Population 87,307 · Michigan
About Troy, MI
Troy is a mid-sized city in Michigan with a population of 87,307 residents. The median household income is $119,299 per year, which is above the national average. The median age in Troy is 42.2 years.
Housing in Troy has a median home value of $396,800 and median monthly rent of $1,557. Of the 34,997 total housing units, the majority are owner-occupied, with 24,749 owner-occupied and 8,620 renter-occupied units.
The unemployment rate in Troy is 4.0% and the poverty rate is 5.3%. 64.1% of residents hold a bachelor's degree or higher. The average commute time is 24.6 minutes.
How Troy Ranks in Michigan
Cost of Living in Troy, MI
Compared to national averages, Troy has a median household income of $119,299 (59% above the national median of $75,149). Home values average $396,800, which is 62% above the national median. Monthly rent at $1,557 is 34% above the US average of $1,163. Within Michigan, Troy's income is 81% above the state average of $66,017, and home values are 116% above the state median of $183,391.
Why Live in Troy, MI?
Troy offers a strong local economy with a median household income of $119,299, well above the national average, and a well-educated community where 64.1% of residents hold a bachelor’s degree or higher, and a low poverty rate of 5.3%, better than the national average. Additionally, the city features short commute times averaging just 24.6 minutes.
Potential considerations include a competitive housing market where the typical home costs $396,800. However, as a mid-sized city, Troy provides access to a wide range of amenities and services.
Troy has a population of 87,307 with a median age of 42.2 years. Compare Troy with other cities to see how it stacks up, or explore all cities in Michigan.
Similar Cities Near Troy
Cities in Michigan with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Westland | 84,155 | $62,216 | $176,500 | Compare |
| Farmington Hills | 83,316 | $101,863 | $333,200 | Compare |
| Flint | 80,835 | $36,194 | $47,600 | Compare |
| Livonia | 94,058 | $96,317 | $265,300 | Compare |
| Wyoming | 76,865 | $72,163 | $203,900 | Compare |
| Rochester Hills | 76,086 | $119,054 | $377,400 | Compare |
| Southfield | 76,025 | $65,848 | $226,900 | Compare |
| Kalamazoo | 73,132 | $48,965 | $164,500 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
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 Troy
What is the population of Troy, MI?
The population of Troy, MI is 87,307 according to the latest Census data.
What is the median household income in Troy?
The median household income in Troy, MI is $119,299 per year.
What is the median home value in Troy?
The median home value in Troy, MI is $396,800.
What is the average rent in Troy?
The median monthly rent in Troy, MI is $1,557.
What is the unemployment rate in Troy?
The unemployment rate in Troy, MI is 4.0%.