Apartments for Rent in Troy, MI

Prices and availability in Troy, MI were last updated on 24 May 2026.

The best apartments in Troy, MI are: The Alcove Troy, Residences of Troy Apartments, Sunnymede Apartments - Troy, MI, Forum Flats Apartments and Uptown Square Apartments.

The average rent in Troy, MI is $1,504.

The price range for a studio apartment in Troy, MI is between $1,450 and $2,123.

The price range for a 1-bedroom apartment in Troy, MI is between $1,070 and $2,902.

The price range for a 2-bedroom apartment in Troy, MI is between $1,245 and $3,732.

The price range for a 3-bedroom apartment in Troy, MI is between $1,725 and $4,143.

In Troy 27% of the housing is rented out compared to 73% of homes are owned, according to the most recent Census Bureau estimates. 17% of Troy's apartments are found in large buildings of 50 units or more, 67% are located in smaller apartment complexes with less than 50 units, and 17% are single-family rentals.

The age and size of multifamily buildings are among the most visible characteristics of the rental market in a city. In this case, the apartment buildings in Troy are about 50 years old, on average. Of these, 5% have been built since 2000, representing the newer options on the market and typically offering more amenities. Rental buildings in the city have an average height of 3 stories. About 87% of the rental communities here are low-rise, garden-style communities, 8% are mid-rises, and 10% are high-rise buildings. These are true especially for large-scale multifamily buildings with over 50 apartments.

Studio apartments in Troy are around 0.4% of rentals, while 1-bedroom floor plans represent 43% of the total stock. For those in search of larger rentals, 2-bedroom floorplans make up 49% of all rentals. More generous apartments with 3 bedrooms or more are also available in this city for those in search of more space.