Apartments for Rent in Troy, MI

Frequently asked questions

• How many apartments for rent are listed in Troy, MI?

  Troy is the largest community in Oakland County at 87,294 residents, and its rental side is looser than almost anything around it: rental vacancy runs 8.4 percent against a homeowner vacancy rate of 0.7 percent, which means the apartment hunter here has leverage the home buyer does not. Roomster shows 15 apartments for rent across the city, running from the Big Beaver and Somerset corridor through the Rochester Road and Crooks Road spines and down into the 48083 blocks near Maple Road.

• How much does it cost to rent an apartment in Troy, MI?

  A studio averages about $1,236 for roughly 530 square feet and a one-bedroom $1,462 for about 816, while a two-bedroom sits near $1,706 for around 1,114 and a three-bedroom $2,059 for close to 1,404. The citywide average is $1,625 across a generous 1,004 square feet, and the market is concentrated: 46 percent of Troy rentals fall between $1,501 and $2,000. You can still find one-bedrooms under $1,300 a month in the 48083 blocks south of Maple Road and along the John R corridor, while the newer buildings near Big Beaver and Somerset price at the ceiling.

• Is there rent control on apartments for rent in Troy?

  No, and nowhere in Michigan is there. MCL 123.411, enacted as Public Act 226 of 1988 and effective July 5, 1988, states that a local governmental unit shall not enact, maintain or enforce any ordinance or resolution that has the effect of controlling the amount of rent charged for leasing private residential property - and it defines local governmental unit broadly enough to cover counties, cities, villages and townships alike. So neither Troy nor Oakland County can cap rent or limit an increase at renewal. Legislation to repeal the 1988 act has been introduced in Lansing but has not passed, so the ban still stands.

• What happens to my deposit when I move out of a Troy apartment?

  Michigan runs a strict clock at both ends, and one deadline belongs to you. Within 4 days of moving out you must give the landlord a written forwarding address; miss it and the landlord is relieved of the obligation to send you an itemized list at all. Assuming you do, the landlord has 30 days after your occupancy ends to mail an itemized list of any damages claimed against the deposit, and if you disagree you have 7 days from receiving that notice to say so in writing. Your money is not supposed to be sitting in a personal account either - MCL 554.604 requires the deposit be held in a regulated financial institution. Send the forwarding address by a method that gives you proof of the date.

• Are there apartments for rent near Troy's Amtrak station or main commute routes?

  Troy is one of the few Detroit suburbs with intercity rail, though the local connection to it is thin. The Troy Transit Center opened on October 14, 2014, replacing the old Birmingham station, and is served by Amtrak's Wolverine, which runs three times daily each way between Chicago and Pontiac - the platform itself technically sits just over the line in Birmingham. Only one SMART route, 430, reaches the station directly and only at weekday peak hours, though three SMART routes run along Maple Road about a quarter mile north. For drivers it is I-75 plus the Big Beaver, Maple, Rochester, Crooks and John R grid. Apartments south near Maple are the ones where the train is genuinely usable.

• How do Troy apartment rents compare with Birmingham, Royal Oak and Warren?

  Troy sits in the middle of a very steep local gradient, which is the main argument for renting here. At $1,625 it is a fraction of neighboring Birmingham at about $3,055 - nearly double Troy for a shorter drive to the same offices - and it lands close to Royal Oak at $1,657, Rochester Hills at $1,685 and Auburn Hills at $1,602. Going the other way trims the bill sharply: Clawson averages $1,228, Pontiac $1,196, Detroit $1,324 and Warren $1,129. Weigh that against square footage, though - Troy's average unit is 1,004 square feet, which is larger than most of what those cheaper markets offer.