What is the average home price in Troy, MI 48083?

As of May '26, the median home price in Troy, MI 48083 is $363,000, based on Zillow home estimates.

How have home prices in Troy, MI 48083 changed over the past year?

As of May '26, home prices have increased 2.3% over the past year, according to Zillow home estimates data.

What is the home price projection for Troy, MI 48083?

As of May '26, Zillow projects home prices in Troy, MI 48083 to increase 0.9% in the next year.

What are the demographics of Troy, MI 48083?

According to the latest Census, the demographics of Troy, MI 48083 are 64.4% White, 4.3% Black, 23.1% Asian, 3.1% Hispanic. The population is 23,600, with 16.5% under 18 years old.

How long does it take homes to sell in Troy, MI 48083?

According to Realtor.com, as of May '26, the median home in Troy, MI 48083 is on the market for 40 days. This is an increase of 41.0% from last year.

What is the average rent price in Troy, MI 48083?

The average rent price in Troy, MI 48083, as of the latest data, is $2,380. The average rent for 1 bedroom homes is $1,640. For 2, 3, and 4 bedroom homes, the average rent is $1,870, $2,260, and $2,920 respectively.

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Troy, MI—48083

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$363,000

2.3% YoY Growth

Household Income

$88,600

19.0% YoY Growth

Days on Market

41.0% Longer YoY

Home Price Forecast

0.9%

Median Rent

$2,300

13.9% YoY Growth

1-Bed Rent

$1,030

26.2% YoY Growth

2-Bed Rent

$1,800

12.7% YoY Growth

3-Bed Rent

$2,350

3.0% YoY Growth

Other Zip Codes in Troy, MI

48084 48085 48098

Home Price Trends — Troy, MI

As of May '26, the median home price in Troy, MI is $363,000, with a year-over-year change of 2.3%. This indicates that home prices in Troy, MI are increasing. According to Zillow, the 1-year price projection is 0.9%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$363,000	2.3%
Single Family	$369,000	1.7%
Condos	$235,000	0.4%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$430,000	12.0%
Listing Count	55	43.0%
Listings as % of Homes	0.3%	43.0%
Days on Market	40	41.0%

Metric	Latest Census	YoY % Change
Population	23,600	2.8%
% Under 18	16.5%	-11.8%
% Seniors	19.4%	19.0%
% WFH	18.8%	437.1%
% w/ College Degree	53.0%	9.7%

Metric	Zip Code Average
Total Loan Originations	300
% Conventional Loans	94.0%
% Government Loans	6.0%
% Investor Loans	1.0%
% Second Loans	1.0%
% Cash Out Refinance	12.0%

Total Units under HUD	702
Total Units Section 8	702
% Rentals under Section 8	19.5%
% Occupied Section 8	96.9%

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	$310	$1,030	$1,340
2 Bedroom	-$100	$1,800	$1,700
3 Bedroom	-$270	$2,350	$2,080
4 Bedroom	-$650	$2,900	$2,250

Troy, MI—48083

Key Metrics at a Glance

Other Zip Codes in Troy, MI

Home Price Trends — Troy, MI

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Troy, MI

% of Rental Stock

Property Listings — Troy, MI

Demographics — Troy, MI

Race and Ethnicity

Mortgage and Risk — Troy, MI

Mortgages

Rentals and Section 8 — Troy, MI

Section 8 Market Size

Section 8 Opportunity

Affordability — Troy, MI

Home Price to Income Ratio

Troy, MI — ZIP Code Boundary Map

Nearby ZIP Codes

Clawson, MI

Troy, MI

Sterling Heights, MI

Madison Heights, MI

Troy, MI

Frequently Asked Questions

Type	Median Rent	Average Rent
Average Rent	$2,300	$2,380
Studio Rent	$1,740	$2,360
1 Bed Rent	$1,030	$1,640
2 Bed Rent	$1,800	$1,870
3 Bed Rent	$2,350	$2,260
4 Bed Rent	$2,900	$2,920

Metric	Latest Census	5-Year % Change
% White	64.4%	-2.6%
% Black	4.3%	-24.6%
% Hispanic	3.1%	10.7%
% Asian	23.1%	2.2%
% Foreign Born	31.3%	-2.8%

Metric	Zip Code Average
Home Price to Income Ratio	3.5
Median Home Price	$363,000
Median Household Income	$88,600