ZIP Code · MI

ZIP 48084

Part of Troy, MI

Pop. 15,960·Oakland County·50th most expensive ZIP in Michigan

Median rent (all units)

$1,671/mo

Year-over-Year

+5.2%

Month-over-Month

+0.9%

vs US Median

-$261

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 48084 · $1,671

More affordable than 60% of US ZIP codes · National median $1,932/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: October 17, 2026

From the history

What the numbers show

Cheapest month to sign

March. Asking rents in ZIP 48084 usually run 1.3% below trend in March and 0.9% above it in August, about $37 a month apart at today's median. Based on 5 years of data.

Compared with the peak

Rent in ZIP 48084 is at its highest level since Zillow's records here began in March 2021.

Past year vs. the rest of Michigan

Rent in ZIP 48084 changed +5.2% 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 6 months in a row, and rose in 8 of the last 12 months.

What a typical income covers

30% of the median household income ($107,098) is $2,677 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($2,650).

Cheaper nearby

ZIP 48034, 7 miles away, rents for 12% less ($1,473/mo), about $2,400 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 48084. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$20,052/yr

At $1,671/mo median

Location

CityTroy

StateMI

CountyOakland County

Rent Market Meter

Strong Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are up 5.2% year-over-year. Expect competition, and move quickly to lock in terms.

Based on rent-price momentum (+5.2% YoY, +0.9% 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

$1,322 → $1,671

up 26.4%

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 $1,322 to $1,671, a 26.4% 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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About renting in ZIP 48084

Last updated: October 17, 2026

ZIP code 48084 covers Troy, MI. The median rent here is $1,671/mo as of October 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 increased 5.2% over the past year.

FAQ

Frequently asked questions

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 $67,000/year (about $32/hour full-time) to afford the median rent of $1,671/mo in ZIP 48084. The local median household income is $107,098/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 48084?

Rent in ZIP 48084 has risen 5.2% over the past year as of September 2026. That is the highest level since Zillow's records here began in March 2021.

When is the cheapest time to rent in ZIP 48084?

Asking rents in ZIP 48084 are usually lowest in March, about 1.3% below their yearly trend, and highest in August, about 0.9% above it. At today's median that is a gap of roughly $37 a month. This pattern comes from 5 years of Zillow rent data.

How does ZIP 48084 compare to other ZIPs in Michigan?

ZIP 48084 is one of the pricier among Michigan ZIP codes for rent, ranking #50 of 168 at $1,671/mo. Over the year to September 2026, rent in ZIP 48084 changed +5.2%, against a typical +4.4% across the 134 Michigan ZIP codes Zillow tracks.