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ZIP Code · MI

ZIP 48084

Part of Troy, MI
Pop. 15,960·Oakland County·53rd most expensive ZIP in Michigan
Median rent (all units)
$1,690/mo
Year-over-Year
-4.0%
Month-over-Month
+5.6%
vs US Median
-$275
Rising (Monthly)
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Most AffordableMost Expensive
ZIP 48084 · $1,690
More affordable than 60% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,430
1 BR
$1,590
2 BR
$2,000
3 BR
$2,440
4 BR+
$2,650
Research median
$2,000/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: July 20, 2026

Annual cost
$20,280/yr
At $1,690/mo median
Location
CityTroy
StateMI
CountyOakland County
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 4.0% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (-4.0% YoY, +5.6% MoM), not inventory.
Demographics

Who lives here

ZIP 48084 (Troy, MI) is roughly split between renters and owners, has a median income above the national average, 73% of residents hold a bachelor's degree or higher.

Population
15,960
Median income
$107,098
Median age
37.7
Renters
54.2%
Age distribution
20.5%
25%
30.8%
12.9%
Under 1820.5%
18–3425%
35–5430.8%
55–6410.9%
65+12.9%
Gender
50.9%
49.1%
Male50.9%
Female49.1%
Race & ethnicity
53.4%
35.1%
White53.4%
Black5.8%
Hispanic3.3%
Asian35.1%
Other2.4%
Education (25+)
17.5%
73%
No HS diploma1%
HS diploma8.5%
Some college17.5%
Bachelor's+73%
Housing tenure
45.8%
54.2%
Owner45.8%
Renter54.2%

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

2021 vs 2026

How ZIP 48084 in Troy, MI has changed in 5 years

Rent
$1,361 → $1,690
up 24.2%
Income
$101,599 → $107,098
up 5.4%
Population
15,775 → 15,960
up 1.2%
Renter share
49% → 54.2%
+5.2 pts
Bachelor's+
70.8% → 73%
+2.2 pts
Median age
38.2 → 37.7
-0.5 yrs

Since 2021, the typical rent in ZIP 48084 in Troy, MI has climbed from $1,361 to $1,690, a 24.2% change over five years. Census figures show median household income at $107,098 today, compared with $101,599 five years earlier. That spread, with rent up faster than earnings, points to a tougher affordability environment than five years ago. The population has grown by 1.2% since 2021, moving from about 15,775 residents to roughly 15,960. Renters now make up 54.2% of households, compared with 49% five years ago. College-educated residents now make up 73% of adults here, versus 70.8% in 2021. The combined trend lines point to a market that has changed measurably from where it stood in early 2021.

Community

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Local insights

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About renting in ZIP 48084

Last updated: July 20, 2026

ZIP code 48084 covers Troy, MI. The median rent here is $1,690/mo as of July 2026. A 1-bedroom rents for a median of $1,590/mo. A 2-bedroom rents for a median of $2,000/mo.

At 19% of local median household income ($107,098/yr), ZIP 48084 ranks as affordable compared to the national benchmark of 30%. Rents have decreased 4.0% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 48084?

As of July 20, 2026, the median monthly rent in ZIP 48084 (Troy, MI) is $1,690. This is based on aggregated data from public sources and community submissions.

How does ZIP 48084 rent compare to the US average?

ZIP 48084's median rent of $1,690/mo is $275 (14%) below the US national median of $1,965/mo.

How does ZIP 48084 compare to other ZIPs in Michigan?

ZIP 48084 is one of the pricier ZIP codes in Michigan, ranking #53 out of 165 ZIPs tracked at $1,690/mo.

How much income do you need to rent in ZIP 48084?

To keep rent at or below 30% of gross income, you would need to earn at least $68,000/year (~$33/hour full-time) to afford the median rent of $1,690/mo in ZIP 48084. The local median household income is $107,098/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 48084?

Rent in ZIP 48084 has decreased 4.0% over the past year as of July 20, 2026, offering some relief compared to 12 months ago.

Is ZIP 48084 an affordable place to rent?

ZIP 48084 is considered very affordable for renters. At $1,690/mo, rent takes approximately 19% of the local median household income ($107,098/yr). The standard benchmark is 30%. ZIP 48084 falls comfortably within that range.

What percentage of ZIP 48084 residents rent vs. own?

According to Census data, approximately 54.2% of ZIP 48084 households are renters, while 45.8% are owner-occupied. With a majority renter population, ZIP 48084 has a strong rental market.

How does ZIP 48084 compare to the rest of Troy?

ZIP 48084 is more affordable than Troy overall. At $1,690/mo, it's $171 below the Troy citywide median of $1,861/mo.

When was rent data for ZIP 48084 last updated?

Rent data for ZIP 48084 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
19%
VERY AFFORDABLE

At $1,690/mo, rent takes ~19% of ZIP 48084's median household income ($107,098/yr). The standard benchmark is 30%.

ZIP 48084 19%Benchmark 30%
State income tax4.25%
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Schools nearby

Public schools near ZIP 48084 (Troy, MI)

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