Troy, MI

  • Overview
  • Performance
  • Listings
  • Buy Box

Key Performance Metrics

Market snapshot

Performance indicators for the Troy short-term rental market based on reliable data.

Listings

18 / 62

Reliable / Active

Cap Rate

8%

Middle-Earners Gross Yield

Revenue

$35,295

Middle-Earners Revenue

Occupancy

70%

Middle-Earners Occupancy

Home Value

$467,709

Median Home Sale Price

Top Earners

$58,512

Top-Earners Revenue

Troy

Market Revenue Seasonality

Top Listings

Highest revenue

The highest-performing listings in Troy.

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B

Generally Investor friendly

Troy Regulations

STRs are explicitly allowed in Troy with a clear permitting process involving moderate fees, safety inspections, and required documents, making compliance straightforward. However, limited zoning allowances (e.g., restrictions in R1 and R2 zones) and a four-bedroom cap introduce manageable constraints that may deter some investors but do not prevent operation in most areas.

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About Troy

Troy is a city in Oakland County, in the southeastern Michigan suburbs north of Detroit. With a population of roughly 87,000 residents, it is one of the larger communities in the Detroit metropolitan area and is best known as a major business and retail hub, anchored by the Somerset Collection and a concentration of corporate headquarters along its I-75 corridor. The city has a polished, suburban character with well-maintained residential neighborhoods, office parks, and shopping centers, and it functions as a convenient gateway for visitors who want upscale amenities paired with easy access to the broader Detroit region. Downtown Detroit lies approximately 20 miles to the south, putting Troy within a half-hour drive of the city's major sports, entertainment, and cultural venues.

Just outside Troy's western edge, the Cranbrook Educational Community sprawls across more than 300 acres in Bloomfield Hills and is one of the most distinctive cultural destinations in metropolitan Detroit. The campus is home to the Cranbrook Art Museum, the Cranbrook Institute of Science, and the historic Cranbrook House and Gardens, and it is widely regarded for its striking Frank Lloyd Wright-influenced architecture. It is only minutes from most parts of Troy, making it a natural stop for visitors interested in art, design, and family-friendly science exhibits.

To the south, the Detroit Zoo sits in Royal Oak and Huntington Woods, about a 15-minute drive from central Troy. The 125-acre zoo is home to more than 2,000 animals and features signature habitats such as the Polk Penguin Conservation Center and the Arctic Ring of Life, drawing families from across the region year-round. Nearby Royal Oak also has a lively downtown with restaurants, bars, and live music venues that complement a day at the zoo.

Within Troy itself, the Somerset Collection is one of the most prominent upscale shopping centers in the Midwest, drawing visitors from across southeast Michigan and southern Ontario for luxury retailers, dining, and seasonal events. Closer to home, the Troy Historic Village offers a quieter, locally rooted experience, with a collection of 19th-century buildings and exhibits that walk visitors through the area's early settler history. Together, these varied attractions make Troy a versatile and well-rounded base for a short-term rental, combining corporate travel, shopping tourism, and family-friendly day trips in a single, well-connected suburban setting.

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