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Troy city, MI

ZIP 48098 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Wealthy AreaLow Snow AreaRemote Work Hub

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 48098

Median Home Value
$485,300
Median Rent
$1,469
Affordability Snapshot
$134,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$3,117/mo PITI).

11%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

2.9x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

27.5 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 48098 in Troy city, MI, a household would need roughly $134,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $3,117. That sits below the local median household income ($165,781), suggesting the typical household income is closer to a workable buy-in level under these assumptions. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Owner-occupied majority; balanced tenure mix.

Heating Fuel
Housing Metrics
Owner Occupied
92.0%+41% vs US avg
x
Vacancy Rate
5.4%-48% vs US avg
x
Broadband Access
97.7%+12% vs US avg
x
4+ Bedrooms
5.7%-62% vs US avg
x
Built Pre-1939
0.5%-96% vs US avg
x
Built Post-2014
0.7%-90% vs US avg
x
Rent Burden >30%
21.7%-56% vs US avg
x
Mortgage-Free
42.7%+12% vs US avg
x
$485,300
Home Value
$1,469
Rent
1982
Year Built
2008
Moved In

Residents have lived here since ~2008 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached84.6%
  • 1-unit attached9.1%
  • 2-9 units4.4%
  • 10+ units2.0%
  • Mobile home & other0.0%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$485,300
Median rent$1,469
Owner-occupied92.0%
Vacant5.4%
Price-to-income2.9x
Est. income to buy$134,000