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Troy anchors the heart of southeast Michigan’s “Automation Alley,” and that engineering-and-finance backbone shapes its housing market more than almost anything else. Roughly 6,000 businesses employ over 125,000 people here, with payrolls led by Flagstar Bank, Corewell Health, Inteva Products, Cummins Meritor, Magna International, and Troy-headquartered Kelly Services. Add the upscale Somerset Collection mall and its skywalk, the Troy Historic Village, and the Big Beaver Road office corridor, and you get a city where high-income professionals compete for well-kept homes. A quick note for buyers: ZIP 48007 is a PO Box-only ZIP with no street delivery, so the figures below reflect the broader city of Troy (physical homes deliver in 48083, 48084, 48085, and 48098).

Tucked into the southeast quadrant of Troy, ZIP 48083 is the city’s value foothold: older brick ranches and colonials lining John R and Rochester Road, with light-industrial and commercial pockets hugging I-75. Unlike the pricier northern Troy ZIPs, 48083 draws first-time buyers who want a foot in one of Metro Detroit’s premier office-and-retail hubs without the top-tier price tag. The Big Beaver Road corporate corridor, home to Kelly Services’ headquarters, Flagstar Bank, and a dense cluster of automotive and finance employers, sits minutes north, and the Somerset Collection anchors upscale retail just up the road. Troy’s population runs near 90,000, and the broader market stays tight. For buyers, 48083 is where Troy’s location, schools, and job access become genuinely attainable.

Tucked into Oakland County’s “Golden Corridor,” the 48084 ZIP wraps around Big Beaver Road and the Somerset Collection, the twin-tower luxury mall linked by a 230-foot glass skywalk. This is the corporate heart of Troy: the I-75 and Big Beaver office spine houses automotive suppliers like Magna International and Inteva Products, Corewell Health offices, and a dense cluster of finance and professional firms in “Automation Alley.” Roughly 88,000 people live across the city, with a median household income near $119K, about 1.5x the state figure. That affluence, paired with top-ranked schools and Somerset retail, keeps buyer demand steady. Align Lending works this corridor daily, matching purchasing and refinancing borrowers to the right loan structure for a market where condos near the mall and estate homes off Wattles can sit blocks apart.

Northeast Troy, the slice of Oakland County stitched together by ZIP 48085, is a white-collar suburb built around the Big Beaver “Golden Corridor” and the Somerset Collection luxury mall. With roughly 90,000 residents citywide and a median household income near $120,000, this is one of the higher-earning communities in metro Detroit. Corporate anchors like Flagstar Bank, Kelly Services, Altair Engineering, and Corewell Health (Beaumont) keep demand for housing steady year-round. Buyers here are typically professionals relocating for those headquarters or families chasing the top-ranked Troy School District. At Align Lending we finance purchases and refinances across this quadrant, from the wooded streets near Sylvan Glen to newer builds along the Wattles/Long Lake corridor. We know the local price points, the millage quirks, and how to close fast in a market that rewards prepared buyers.

Northwest Troy’s 48098 ZIP sits at the upscale end of one of Michigan’s strongest suburban markets. This is the part of Troy zoned largely for Athens High School and the Troy School District, wrapped around established subdivisions like Stonehenge and Charnwood and green space at the Lloyd A. Stage Nature Center. Troy itself is metro Detroit’s corporate spine: the Big Beaver “Golden Corridor” stacks office towers, automotive-supplier headquarters, banks, and the luxury Somerset Collection into a single skyline. With a population near 90,000 (World Population Review) and a median household income around $120,000 (Data USA), 48098 draws engineers, finance professionals, and healthcare workers who want top schools without leaving the I-75 job base behind.

Troy isn’t a bedroom suburb that empties out at 9 a.m. it’s Michigan’s second-largest city by property value and a working business engine. The Big Beaver “Golden Corridor” packs in roughly 6,000 businesses employing more than 129,000 people, with Corewell Health, Inteva Products, Magna International, and Flagstar Bank all drawing paychecks into the local housing market. That payroll density, plus the gravitational pull of the Somerset Collection luxury mall on West Big Beaver, keeps demand for Troy homes steady even when rates wobble. One quirk worth flagging up front: ZIP 48099 is a PO Box/business-only ZIP folded inside the 48083 area, so the residential numbers below describe the city of Troy and its surrounding delivery ZIPs (48083/84/85/98). For households earning Troy’s ~$120,000 median income, this is a market where a well-prepared buyer still competes.

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Troy’s typical home value sits around $415,000 in mid-2026 per Zillow, while Redfin pegs the median sale price closer to $436,000. Year-over-year movement is essentially flat to slightly soft: Zillow shows about -0.2%, and Redfin reported a sharper -5.9% on median sale price for the three months ending May 2026. Homes now sit about 20 days on market, up from roughly 13 a year earlier, signaling a market that has cooled from its frenzied peak. Demand stays durable because of Troy’s top-rated schools, dense local employment, and proximity to Birmingham and Rochester Hills wealth corridors.

The median sale price in 48083 sits around $352,000, the most affordable of Troy’s four ZIPs, where the city-wide median runs closer to $415,000. Values have been roughly flat year-over-year; Zillow shows Troy home values down about 0.2% over the past twelve months, with some short-term three-month windows dipping more sharply. Homes move at about 41 days on market against roughly 2.1 months of inventory, a seller-leaning balance. Demand here is driven by affordability relative to the rest of Troy, proximity to the Big Beaver job corridor, and the older-but-solid ranch-and-colonial housing stock that gives entry-level buyers room to compete.

Most 2026 data pegs the typical 48084 home around $450,000, though sources spread from roughly $415K (Zillow citywide) to about $482K for the ZIP itself. Year over year the market is essentially flat, Zillow shows -0.2% citywide while Redfin reported a sharper -5.9% dip, so the read on direction depends on the source. Homes are taking about 20 days to sell, up from roughly 13 a year earlier, meaning the frenzy has cooled but inventory still moves. Demand is driven by Troy School District’s reputation, Somerset-corridor employers, and quick I-75 access, while the Somerset and Wattles luxury pockets pull the high end past $600K.

The typical 48085 home runs roughly $415,000 to $440,000, though single-family houses in this ZIP often list closer to $450,000 and condos hover near $320,000. Year-over-year direction depends on the source, Zillow shows +3.0% while Redfin reports -5.9% over three months, netting out to roughly flat-to-slightly-up. Pace is the real story: homes go pending in a median of 18 to 26 days, down about 20% year over year, often with around three competing offers. Demand is driven by the school district, corporate-HQ employment, and easy I-75 access, all of which keep inventory tight and well-prepared buyers winning.

Troy’s citywide median sale price ran about $475,000 in spring 2026, and 48098 specifically tends to land a touch higher, roughly $463,000 to $475,000 (Redfin). (Zillow’s blended “typical value” of about $415,000 looks lower only because it folds in condos and cheaper Troy ZIPs.) Year-over-year prices are roughly flat to modestly soft, with Zillow’s ZHVI near -0.2%. Demand stays hot: homes typically go pending in about 15 days, and the most desirable listings move in roughly a week, often at or above list. School zoning, corridor jobs, and limited new construction keep 48098 a firm seller’s market.

The typical Troy home value sits around $414,936 per Zillow, with recent median sale prices closer to $436,000 per Redfin for the three months ending May 2026. Split it out and single-family homes run near $450,000 while condos average about $321,000. Price growth has flattened, Zillow shows roughly -0.2% year over year, and Redfin clocked the median sale price down about 5.9% over that spring window. Don’t mistake flat prices for a slow market, though: homes are going under contract in about 19–21 days, up from roughly 13 a year earlier, and well-priced listings inside the top Troy School District attendance zones still pull multiple offers. Demand is driven by school quality and Big Beaver job proximity, not speculation.

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Troy Real Estate & Mortgage Overview

To comfortably carry the ~$415,000 median home with about 20% down at current rates, plan on roughly $115,000-$130,000 in household income once you fold in taxes and insurance, which lines up neatly with Troy’s ~$119,000 median household income. Troy’s median effective property tax rate runs about 1.28%, above Michigan’s 1.05% median, and your exact millage shifts with subdivision and school district. First-time buyers should explore MSHDA down-payment assistance and FHA financing. Because most Troy homes fall under the 2026 Oakland County conforming limit, conventional loans serve the majority of buyers; only the larger Hills of Charnwood and Long Lake estates routinely push into jumbo territory.

To comfortably carry the ~$352,000 median 48083 home, plan on roughly $95,000–$105,000 in household income, figuring a 10–20% down payment, a rate near 6.5–7%, and about $3,400/year in taxes at a ~28% front-end DTI. Property taxes are a 48083 advantage: Troy’s effective rate is ~1.28%, but this ZIP carries the lowest median bill of any Troy ZIP, around $3,402/year, because of how school-district millages fall. Always confirm the principal-residence (homestead) exemption. At this price point most 48083 purchases stay well under conforming limits, so FHA and first-time-buyer programs, including MSHDA down-payment assistance, fit better here than jumbo financing.

To buy a median-priced 48084 home you’ll generally want household income in the $130K-$150K range: a ~$450K purchase with 20% down at around 7% lands near $3,000/month with taxes and insurance, fitting a standard 28% front-end ratio. Troy’s effective property tax rate runs about 1.28%, above Michigan’s ~1.05% median, roughly a $4,380 annual bill, and your exact millage shifts depending on whether the parcel sits in Troy School District or Birmingham Public Schools. First-time buyers should explore MSHDA down-payment assistance. Most of this market stays under the Oakland County conforming limit, but Somerset-area estates frequently push into jumbo territory, so know your price point before you shop.

To comfortably carry a median (~$425K) Troy home with 20% down at today’s ~7% rates, plan on roughly $115,000–$135,000 in household income, almost exactly Troy’s own median. A smaller down payment pushes that requirement higher, so compare scenarios early. Property taxes here run a median effective ~1.24%, and your bill combines City of Troy, Oakland County, and school-district millage; claiming Michigan’s Principal Residence Exemption meaningfully lowers the homestead rate versus a rental. First-time buyers should explore MSHDA down-payment assistance. Most 48085 homes sit comfortably under the conforming loan limit, but Sylvan Glen estates topping $600K can edge into jumbo territory, worth confirming before you shop.

To comfortably carry the ~$475K median home with about 20% down at today’s rates, taxes and insurance included, plan on roughly $140,000–$160,000 in household income. That sits above Troy’s $120K median, so many buyers lean on dual incomes, move-up equity, or a larger down payment. Budget carefully for taxes: Troy’s effective rate is about 1.28% (Ownwell), and 48098 carries one of the city’s higher loads (a median bill near $5,500), though a homestead exemption removes the ~18-mill school operating levy on owner-occupied homes. First-time buyers can explore MSHDA down-payment help, while many 48098 purchases at this price point bump against conforming limits, making conventional and jumbo strategy worth a conversation.

To comfortably carry Troy’s ~$415,000 median home, plan on roughly $115,000–$135,000 in household income, assuming 10–20% down, a rate in the mid-6% to 7% range, and the local tax load. Speaking of taxes: Troy’s median effective property tax rate is about 1.28%, above Michigan’s ~1.05% median, and your exact bill blends City of Troy, Oakland County, and your specific school-district millage. On a $415K home that’s roughly $5,300/year, budget it into your payment, not as an afterthought. First-time buyers should ask about MSHDA down-payment assistance. Most Troy purchases stay under the conforming loan limit, but move-up buyers in Hills of Charnwood or northern Troy can cross into jumbo territory, so get that conversation started early.

What it's Like to Live in Troy

Northfield Hills (condos ~$200K-$400K): West of Coolidge, south of W Long Lake Rd, with a community pool, tennis courts, clubhouse, and private lake; Troy School District.
Hills of Charnwood (single-family ~$500K-$800K+): Established upscale northwest-Troy subdivision with larger lots; this is where jumbo financing comes into play.
Wattles / Beach Forest (~$350K-$550K): Central-Troy single-family subdivisions near Wattles (17 Mile) Rd.
Raintree Village (~$300K-$500K): Popular planned community blending single-family homes and condos.
Sylvan Glen / Long Lake corridor (~$450K-$750K+): North-Troy larger homes near Long Lake Rd, sometimes in Bloomfield Hills boundaries.

Most addresses feed the highly rated Troy School District (~21 schools, 12,400+ students), though pockets fall into Birmingham, Avondale, Warren Consolidated, Bloomfield Hills, or Royal Oak schools. Downtown Detroit is about 20-21 miles south, a 25-30 minute drive via I-75.

ZIP 48083’s housing is a mix of established subdivisions and older attainable stock:

Raintree Village (~$300,000–$450,000), a central, established family enclave near freeways and shopping.
Beaver Trails (~$300,000–$475,000), an established planned subdivision in the Troy area.
Eden Gardens (~$350,000–$600,000+), a blend of established homes and newer construction.
Charnwood / Sunnydale area, southeast Troy (~$250,000–$400,000), older brick ranches and colonials typical of 48083’s most attainable inventory.

Schools vary by street. Most of Troy sits in the highly rated Troy School District), but parts of southeast Troy/48083 fall under Warren Consolidated Schools (Susick Elementary on Castleton Dr is in 48083), with a small western sliver in Royal Oak schools. Verify the boundary for any specific address. Commute: downtown Detroit is about 21–22 miles, roughly 25–35 minutes via I-75, with SMART FAST Woodward bus service as an alternative.

Raintree Village (Big Beaver corridor), ~$420K-$520K. Established 1970s-90s single-family homes plus condos; median near $460K.
Sylvan Glen area, ~$350K-$475K. Older ranches and colonials by the golf course; among central/south Troy’s more affordable pockets.
Big Beaver / Coolidge high-rise & condo corridor, ~$250K-$500K+. Walkable to Somerset, in one of the highest-income census areas in the U.S.
Somerset / Wattles luxury pockets, $600K-$1M+. Estate-style homes at the top of the Troy market.
Charnwood / Eton-Maple area, ~$350K-$500K. Mid-century and updated homes; parts served by Birmingham Public Schools (Pembroke Elementary on Eton Dr).

Most addresses feed the highly rated Troy School District, but the southwestern slice of 48084 falls within Birmingham Public Schools, confirm the assignment per address. Downtown Detroit is about 20-22 miles south, a 25-35 minute drive via I-75 (or roughly 1 hour 5 minutes on SMART line 461).

ZIP 48085 covers northeast Troy, where these named subdivisions anchor the market:

Sylvan Glen / Golf Estates (~$450,000–$600,000+): Upper-middle-income streets with mature trees wrapping the Sylvan Glen golf course; NeighborhoodScout pegs the median near $515,000.
Meadowland Estates (~$400,000–$550,000): Established single-family subdivision in the heart of the 48085 quadrant.
Charnwood (~$375,000–$500,000): Family-oriented north/northeast neighborhood served by Troy School District.
Raintree (~$400,000–$525,000): Popular pocket near the Wattles/Long Lake corridor.
Serravale / Elgin Corners (~$425,000–$600,000): Newer-build pockets in northeast Troy.

Most of 48085 falls in the highly rated Troy School District (Troy High, Athens High), with portions of the north and east served by Avondale School District, confirm the assignment by exact address. Downtown Detroit is about 18–20 miles south via I-75, roughly a 25-minute off-peak commute (35–45 in rush hour).

Stonehenge (~$450,000–$700,000): Established northwest-Troy subdivision with larger colonials and quiet cul-de-sacs like Stonehenge Court.
Charnwood (~$500,000–$800,000): Upscale northern-Troy pocket in the Athens High School zone, the priciest tier in 48098.
Beach Forest (~$400,000–$650,000): Well-regarded family subdivision with mature trees and sidewalks.
Sylvan Glen / Raintree (~$400,000–$700,000): Established homes near Sylvan Glen Golf Course with strong park access.
Wattles (Old Troy north) (~$375,000–$600,000): Older established neighborhoods along the Wattles/Long Lake corridor.

Most of 48098 feeds the nationally ranked Troy School District (Athens High School, a National Blue Ribbon school with 27 AP courses); a small far-northern slice falls in Avondale, verify by address. Downtown Detroit is about 20–21 miles south, a 25–35 minute run down I-75.

Troy’s subdivisions vary more than the citywide median suggests:

Sylvan Glen / Golf Estates ($350,000–$650,000): Established 1960s–70s ranches and colonials beside Sylvan Glen Golf Course and Lake Park; upper-middle-income pocket in the 48085 area.
Hills of Charnwood ($450,000–$750,000+): A sought-after northern-Troy subdivision of larger single-family homes, this is where jumbo financing often comes into play.
Raintree ($400,000–$600,000): A popular family subdivision close to Troy schools and parks.
Wattles / Beach Forest area ($350,000–$550,000): Central Troy established neighborhoods, convenient to Big Beaver employment.
Downtown Troy / Big Beaver corridor ($300,000–$500,000, incl. condos): Walkable to Somerset Collection and office/dining; a mix of condos and single-family homes.

Most of the city feeds the highly ranked Troy School District (Troy High and Athens High), while edge areas fall into Warren Consolidated, Birmingham, Avondale, Bloomfield Hills, or Royal Oak, always confirm the district for a specific address. Commute-wise, downtown Detroit is about 21–23 miles, roughly 25–35 minutes via I-75 S.

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Troy Mortgage FAQ's

What is the median home price in Troy's 48083 ZIP code?

The median sale price in 48083 is roughly $352,000, making it the most affordable of Troy’s ZIP codes (Troy city-wide typically runs around $415,000). Prices in 48083 range widely from the low $200,000s for older ranches to $800,000+ for newer or larger homes.

Are homes in 48083 selling quickly?

Yes. Troy homes are averaging around 41 days on market with only about 2.1 months of inventory, which keeps it a relatively tight, seller-leaning market. Well-priced 48083 homes, especially affordable starter properties, tend to move faster than the city average.

How much income do I need to buy a typical 48083 home?

To comfortably afford the ~$352,000 median home, plan on roughly $95,000–$105,000 in household income (assuming a 10–20% down payment, a rate around 6.5–7%, and about $3,400/year in property taxes). 48083 is often the entry point for first-time buyers who want Troy’s location at a lower price.

What are the property taxes like in 48083?

Troy’s median effective property tax rate is about 1.28%, but 48083 carries the lowest median tax bill of any Troy ZIP, around $3,402/year, because of how school-district millages are drawn. Other Troy ZIPs run as high as ~$5,500. Always confirm whether a home has the homestead (principal residence) exemption.

Which school district serves 48083?

It varies by street. Most of Troy is in the highly rated Troy School District, but parts of southeast Troy/48083 are served by Warren Consolidated Schools (for example, Susick Elementary on Castleton Dr in 48083), and a small western edge falls in Royal Oak schools. Verify the exact boundary for any specific address before buying.

What's the commute from 48083 to downtown Detroit?

It’s about 21–22 miles, or roughly 25–35 minutes by car via I-75 depending on traffic. Troy’s central Oakland County location also puts major job centers like the Big Beaver corporate corridor, Somerset Collection, and Sterling Heights within a short drive, plus SMART FAST bus service to Detroit.

What is the typical home price in Troy, MI 48084?

Most 2026 data puts the typical home around $450,000, with sources ranging from roughly $415K (Zillow citywide) to about $482K for the 48084 ZIP (RealtyTrac). The Somerset and Big Beaver luxury pockets push well past $600K, while older ranches near Sylvan Glen can be found in the $350K-$450K range.

How competitive is the 48084 housing market right now?

Homes in Troy are taking about 20 days to sell as of spring 2026, up from roughly 13 days a year earlier, so the market has cooled slightly but remains active. Prices are essentially flat year over year, with one source showing a small dip, so buyers have a bit more breathing room than in recent peak years.

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