Troy is located in Michigan and has an overall cost of living that is +6% compared to the national average. Understanding the full picture of living expenses — from housing and rent to grocery bills and healthcare — is essential when considering a move to Troy.

Housing: Median rent in Troy is $1,725 / month, and the median home price is $574,721. Housing costs are +8% compared to the national average, which significantly impacts monthly budgets.

Groceries: Daily essentials like bread ($4.14), milk ($4.79), and eggs ($4.73) reflect the local grocery landscape. Overall grocery costs are +1% vs the national average.

Healthcare: Medical costs include doctor visits ($170.91), dentist visits ($137.29), and prescription drugs ($24.74). These costs should be factored into your monthly budget when planning a move.

Michigan has a state income tax rate of 4.25%, which affects take-home pay for Troy residents.

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Troy, Michigan Cost of Living FAQ

Common questions about living costs in Troy.

Troy, Michigan has an overall cost of living that is +6% the national average. Housing costs are +8% vs the national average. Grocery prices are +1% vs average. Utilities are -5% vs average. This makes Troy a city with costs close to national averages.

The median rent in Troy, Michigan is $1,725 / month. Average energy bills run $209.56 / month. Phone bills average $186.95 / month. Housing is typically the largest expense for residents.

Healthcare costs in Troy: doctor's visit averages $170.91, dentist visit averages $137.29, prescription drugs average $24.74. Overall healthcare expenses in the area are influenced by the +1% grocery cost difference.

Troy is one of 203 cities tracked in Michigan. With an overall cost +6% vs the national average, it tends to be pricier than some smaller communities. Visit our Michigan state page to compare all cities side-by-side and find the best fit for your budget.

Troy offers cost of living +6% compared to the national average. Key factors to consider: median home price of $574,721, rent of $1,725 / month, and a state income tax of 4.25% in Michigan. Explore our detailed cost breakdown above to see if Troy fits your budget.