ZIP 48098 · Troy, Michigan

Population

20,936 people call ZIP 48098 home.

20,936

people.

Census ACS 5-year, 2020-2024. Sources: Census ACS 5-year

Rent

Median rent is up 41% since the 2010–2014 survey, before inflation.

$1,712

a month. Michigan's median is $1,129.

Census ACS 5-year, 2020-2024 (latest), with earlier 5-year windows. Sources: Census ACS 5-year

Room to build

The median rent sits inside what local wages can carry.

$1,298–$1,947

is the monthly rent range local workforce wages support.

• $1,712 median

Supportable rent computed by the Almanac from 2021 source wage data. Median rent: Census ACS 5-year, 2020-2024. Sources: Computed by the Almanac, Census ACS 5-year

Building

Most of the housing here is older than 2000.

• 92% of all homes were built before 2000

Census ACS 5-year, 2020-2024. Sources: Census ACS 5-year

Units needed

Closing the gap would add 0.1–2.7% to the 7,783 homes here.

8–207

is the estimated number of missing housing units, from the lowest to the highest of three estimates.

Range computed by the Almanac from 2021 jobs and household data, using three demand models: 1% of jobs located here, 1% of renter households, and a rate by town size applied to renters. The low end is the lowest of the three and the high end the highest. It is an estimate, not a count. Sources: Computed by the Almanac

Home value

A median home costs 120% more than Michigan's.

$509,400

median home value in ZIP 48098.

• $509,400 ZIP 48098
• $231,600 Michigan
• $332,700 U.S.

Census ACS 5-year, 2020-2024. Sources: Census ACS 5-year