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361 Cheap Apartments for rent in Troy, MI

Last updated December 11 at 1:29pm UTC
Results within 1 miles of Troy, MI
31323 Dequindre Road
Madison Heights
Madison Heights, MI
Updated December 11 at 1:35am UTC
Studio
$850
Results within 5 miles of Troy, MI
Highland Towers
25225 Greenfield Road
Southfield, MI
Updated December 11 at 10:13am UTC
1 Bedroom
$650
2 Bedrooms
$800
Amber Apartments of Royal Oak
3807 Crooks Road
Royal Oak, MI
Updated December 11 at 9:58am UTC
Studio
Ask
1 Bedroom
$844
2 Bedrooms
Ask
764 Melrose
Pontiac
Pontiac, MI
Updated December 11 at 12:28pm UTC
3 Bedrooms
$875
308 W 12 Mile
Royal Oak
Royal Oak, MI
Updated December 11 at 12:28pm UTC
2 Bedrooms
$925
1985 PILGRIM Street
Ferndale
Ferndale, MI
Updated December 11 at 1:35am UTC
2 Bedrooms
$850
440 BALDWIN Avenue
Rochester
Rochester, MI
Updated December 11 at 1:35am UTC
2 Bedrooms
$899
47519 Van Dyke
Macomb County
Macomb County, MI
Updated December 11 at 1:37am UTC
Studio
$795
30204 SOUTHFIELD Road
Southfield
Southfield, MI
Updated December 11 at 1:36am UTC
1 Bedroom
$850
29816 CITY CENTER Drive
Northeast Warren
Warren, MI
Updated December 11 at 1:36am UTC
1 Bedroom
$949
8140 CRESTVIEW
Sterling Heights
Sterling Heights, MI
Updated December 11 at 1:35am UTC
2 Bedrooms
$900
30800 VAN DYKE Avenue
Northeast Warren
Warren, MI
Updated December 11 at 1:35am UTC
Studio
$600
17200 W TEN MILE Road
Southfield
Southfield, MI
Updated December 11 at 1:35am UTC
Studio
$600
8181 DENWOOD Drive
Sterling Heights
Sterling Heights, MI
Updated December 11 at 1:35am UTC
1 Bedroom
$700
510 MONTROSE Avenue
Royal Oak
Royal Oak, MI
Updated December 11 at 1:35am UTC
2 Bedrooms
$850
23090 POWELL Avenue
Hazel Park
Hazel Park, MI
Updated December 11 at 1:35am UTC
3 Bedrooms
$800
26425 Coolidge Hwy
Oak Park
Oak Park, MI
Updated December 3 at 12:33pm UTC
2 Bedrooms
$900
848 Kettering Ave
Pontiac
Pontiac, MI
Updated November 20 at 11:45am UTC
3 Bedrooms
$850
818 Cedar St
Pontiac
Pontiac, MI
Updated November 15 at 3:10pm UTC
2 Bedrooms
$700

December 2018 Troy Rent Report

Welcome to the December 2018 Troy Rent Report. Troy rents remained steady over the past month. In this report, we'll evaluate trends in the Troy rental market, including comparisons to cities throughout the metro, state, and nation.

View full Troy Rent Report
Rent Report
Troy

December 2018 Troy Rent Report

Welcome to the December 2018 Troy Rent Report. Troy rents remained steady over the past month. In this report, we'll evaluate trends in the Troy rental market, including comparisons to cities throughout the metro, state, and nation.

Troy rent trends were flat over the past month

Troy rents have increased 0.1% over the past month, and have increased slightly by 1.7% in comparison to the same time last year. Currently, median rents in Troy stand at $1,020 for a one-bedroom apartment and $1,330 for a two-bedroom. Troy's year-over-year rent growth leads the state average of 1.0%, as well as the national average of 1.3%.

Rents rising across the Detroit Metro

Throughout the past year, rent increases have been occurring not just in the city of Troy, but across the entire metro. Of the largest 10 cities that we have data for in the Detroit metro, all of them have seen prices rise. Here's a look at how rents compare across some of the largest cities in the metro.

  • Dearborn has the most expensive rents in the Detroit metro, with a two-bedroom median of $1,330; the city has also seen rent growth of 3.2% over the past year, the fastest in the metro.
  • Taylor has the least expensive rents in the Detroit metro, with a two-bedroom median of $890; rents increased 0.6% over the past month but remained flat year-over-year.

Troy rents more affordable than many large cities nationwide

As rents have increased slightly in Troy, large cities nationwide have seen rents grow more quickly. Troy is still more affordable than most large cities across the country.

  • Rents increased marginally in other cities across the state, with Michigan as a whole logging rent growth of 1.0% over the past year. For example, rents have grown by 1.2% in Lansing and 1.0% in Grand Rapids.
  • Troy's median two-bedroom rent of $1,330 is above the national average of $1,180. Nationwide, rents have grown by 1.3% over the past year compared to the 1.7% increase in Troy.
  • While Troy's rents rose slightly over the past year, some cities nationwide saw decreases, including Baltimore (-1.2%) and El Paso (-0.2%).
  • Renters will find more reasonable prices in Troy than most large cities. For example, Chicago has a median 2BR rent of $1,270, which is undefined the price in Troy.

For more information check out our national report. You can also access our full data for cities and counties across the U.S. at this link.
City Median 1BR price Median 2BR price M/M price change Y/Y price change
Detroit $690 $890 0.2% 1.1%
Warren $780 $1,020 0.8% 3.0%
Sterling Heights $830 $1,080 0.5% 2.1%
Dearborn $1,020 $1,330 0.5% 3.2%
Livonia $940 $1,220 0.1% 3.1%
Westland $740 $970 0.3% 1.6%
Troy $1,020 $1,330 0.1% 1.7%
Southfield $900 $1,180 0.3% 1.8%
Taylor $680 $890 0.6% 0.0%
Pontiac $730 $940 -0.1% 1.1%
See more

Methodology - Recent Updates:

Data from private listing sites, including our own, tends to skew toward luxury apartments, which introduces sample bias when estimates are calculated directly from these listings. To address these limitations, we’ve recently made major updates to our methodology, which we believe have greatly improved the accuracy and reliability of our estimates.

Read more about our new methodology below, or see a more detailed post here.

Methodology:

Apartment List is committed to making our rent estimates the best and most accurate available. To do this, we start with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, comparing only units that are available across both time periods to provide an accurate picture of rent growth in cities across the country.

Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. Our methodology also allows us to construct a picture of rent growth over an extended period of time, with estimates that are updated each month.

Read more about our methodology here.

About Rent Reports:

Apartment List publishes monthly reports on rental trends for hundreds of cities across the U.S. We intend these reports to be a source of reliable information that help renters and policymakers make sound decisions, and we invest significant time and effort in gathering and analyzing rent data. Our work is covered regularly by journalists across the country.

We are continuously working to improve our methodology and data, with the goal of providing renters with the information that they need to make the best decisions.