Zip 48098 (Troy, MI) Housing

The housing in Troy, MI (48098) is fairly affordable compared to the US median value of $338,100. The median value of homes in Troy is $476,700 which is about 41% higher than the US median. Although it is more expensive than the general market, Troy has seen a positive house appreciation rate of 7.58%, slightly lower than the 8.27% appreciation rate across the US. As such, housing in Troy remains an attractive option for those looking for a place to live with above-average home values and a promising market outlook.

The median home cost in Troy (zip 48098) is $476,700. Home appreciation the last 10 years has been 116.4%. Home Appreciation in Troy (zip 48098) is up 10.8%.

Average Age of Homes

- The median age of Troy (zip 48098) real estate is 35 years old

The Rental Market in Troy (zip 48098)

- Renters make up 11.4% of the Troy (zip 48098) population
- 2.8% of houses and apartments in Troy (zip 48098), are available to rent

DID YOU KNOW

Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.

Median Monthly Rent by Number of Bedrooms

Housing by Year Built

Housing	Troy, Michigan	United States
	7,896.0	139,647,020.0
	39	42
	$476,700	$338,100
	10.8%	16.6%
	47.2%	57.0%
	116.4%	101.1%
	$14.66	$10.98
	$6,216	$2,690
	85.2%	57.4%
	7.4%	11.2%
	7.4%	31.4%
Vacant Housing
	2.8%	1.9%
	0.0%	0.4%
	0.7%	0.7%
	0.8%	0.4%
	0.3%	3.6%
	2.7%	4.1%
Value of Owner-Occupied Housing
	0.0%	2.6%
	0.2%	2.4%
	0.0%	2.8%
	0.6%	3.9%
	0.9%	4.5%
	0.6%	11.3%
	3.9%	13.0%
	13.2%	20.1%
	23.9%	13.6%
	28.7%	8.3%
	22.8%	9.7%
	3.8%	3.9%
	1.4%	2.2%
	0.1%	0.8%
	0.0%	1.1%
Housing Units by Year Structure Built
	0.3%	0.2%
	4.0%	13.6%
	4.0%	13.6%
	20.7%	13.6%
	30.8%	13.2%
	25.5%	14.8%
	20.7%	13.6%
	4.3%	10.0%
	0.7%	4.7%
	1.1%	12.2%

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