ZIP Code · MI

ZIP 48083

Part of Troy, MI

Pop. 23,771·Oakland County·24th most expensive ZIP in Michigan

Median rent (all units)

$1,895/mo

Year-over-Year

+3.5%

Month-over-Month

+0.7%

vs US Median

-$37

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 48083 · $1,895

More expensive than 55% of US ZIP codes · National median $1,932/mo

Rent check

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Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$1,250

1 BR

$1,390

2 BR

$1,750

3 BR

$2,140

4 BR+

$2,320

Research median

$1,750/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: October 17, 2026

From the history

What the numbers show

Compared with the peak

Rent in ZIP 48083 is at its highest level since Zillow's records here began in June 2022.

Past year vs. the rest of Michigan

Rent in ZIP 48083 changed +3.6% over the year to September 2026. Across the 134 Michigan ZIP codes Zillow tracks, the typical change was +4.4%.

Recent direction

Rent has risen 2 months in a row, and rose in 7 of the last 12 months.

What a typical income covers

30% of the median household income ($90,794) is $2,270 a month. That covers HUD's Fair Market Rent for up to a 3-bedroom ($2,140); a 4-bedroom is $2,320.

Cheaper nearby

ZIP 48310, 3 miles away, rents for 18% less ($1,563/mo), about $4,000 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 48083. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$22,740/yr

At $1,895/mo median

Location

CityTroy

StateMI

CountyOakland County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (3.5% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+3.5% YoY, +0.7% MoM), not inventory.

Demographics

Who lives here

ZIP 48083 (Troy, MI) is majority owner-occupied, has a large retiree population, has a median income above the national average, 52.2% of residents hold a bachelor's degree or higher.

Population

23,771

Median income

$90,794

Median age

40.7

Renters

37.8%

Age distribution

16.3%

26.4%

24%

13%

20.3%

Under 1816.3%

18–3426.4%

35–5424%

55–6413%

65+20.3%

Gender

52.5%

47.5%

Male52.5%

Female47.5%

Race & ethnicity

64.1%

22.3%

White64.1%

Black4.8%

Hispanic3.7%

Asian22.3%

Other5%

Education (25+)

17.5%

19.8%

52.2%

No HS diploma10.5%

HS diploma17.5%

Some college19.8%

Bachelor's+52.2%

Housing tenure

62.2%

37.8%

Owner62.2%

Renter37.8%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2023 vs 2026

How ZIP 48083 in Troy, MI has changed in 5 years

Rent

$1,670 → $1,895

up 13.5%

Income

$80,222 → $90,794

up 13.2%

Population

23,682 → 23,771

up 0.4%

Renter share

36.7% → 37.8%

+1.1 pts

Bachelor's+

52.1% → 52.2%

+0.1 pts

Median age

39.8 → 40.7

+0.9 yrs

Across the past five years, the going rent in ZIP 48083 in Troy, MI has shifted from $1,670 to $1,895, up 13.5% since 2023. On the earnings side, the typical household in ZIP 48083 in Troy, MI now reports about $90,794, up from $80,222 in 2021. For context, the 2023 to 2026 window covers an unusually volatile run for US rents nationally, and ZIP 48083 in Troy, MI reflects that arc in its own way.

Community

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Local insights

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About renting in ZIP 48083

Last updated: October 17, 2026

ZIP code 48083 covers Troy, MI. The median rent here is $1,895/mo as of October 2026. A 1-bedroom rents for a median of $1,390/mo. A 2-bedroom rents for a median of $1,750/mo.

At 25% of local median household income ($90,794/yr), ZIP 48083 ranks as affordable compared to the national benchmark of 30%. Rents have increased 3.5% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 48083?

To keep rent at or below 30% of gross income, you would need to earn at least $76,000/year (about $37/hour full-time) to afford the median rent of $1,895/mo in ZIP 48083. The local median household income is $90,794/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 48083?

Rent in ZIP 48083 has risen 3.5% over the past year as of September 2026. That is the highest level since Zillow's records here began in June 2022.

How does ZIP 48083 compare to other ZIPs in Michigan?

ZIP 48083 is one of the pricier among Michigan ZIP codes for rent, ranking #24 of 168 at $1,895/mo. Over the year to September 2026, rent in ZIP 48083 changed +3.6%, against a typical +4.4% across the 134 Michigan ZIP codes Zillow tracks.