Home Values

Troy Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$259,100

  • 14.1% 1-year change
  • 6.8% 1-year forecast

Market Temperature

Based on three metrics—sale-to-list price ratio, the prevalence of price cuts on home listings, and time-on-market—the market temperature provides information on the current balance of bargaining power between buyers and sellers in this city relative to other cities in the same metropolitan area. A particular city may be identified as a good market for buyers in a metro market favorable to sellers overall. Learn more

Warm

Buyers' Market
Sellers' Market

The median home value in Troy is $259,100. Troy home values have gone up 14.1% over the past year and Zillow predicts they will rise 6.8% within the next year. The median list price per square foot in Troy is $137, which is higher than the Detroit Metro average of $104. The median price of homes currently listed in Troy is $279,900 while the median price of homes that sold is $247,400. The median rent price in Troy is $1,795, which is higher than the Detroit Metro median of $875.

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Troy is 1.7%, which is lower than the national value of 6.9%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Troy homeowners underwater on their mortgage is 5.6%, which is lower than Detroit Metro at 23.2%.

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Relative ZHVI
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Troy Market Overview

Data through Aug 31, 2014
  • $259,100 ZHVI
  • 6.8% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Aug 31, 2015)
  • $279,900 Median listing price
  • $247,400 Median sale price
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Troy Market Health

Data through Aug 31, 2014
  • 9.4/10 Very healthy
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
  • No data Average days on Zillow
  • 5.6% Homes with negative equity (17.0% US Avg) (Jun 30, 2014)
  • 1.7% Delinquent on mortgage (6.9% US Avg) (Jun 30, 2014)
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Nearby Cities

Name Median ZHVI
Birmingham $390,400
Huntington Woods $311,300
Rochester $299,200
Name Median ZHVI
Rochester Hills $271,600
Pleasant Ridge $267,000
Royal Oak $187,500
Name Median ZHVI
Berkley $164,400
Clawson $148,000
Madison Heights $94,200

Listings & Sales

Data through Aug 31, 2014
  • $137 Median list price / sq ft
  • $133 Median sale price / sq ft
  • 47.1% Listings with price cut
21.8%
Sold below listing
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Troy Rentals

Data through Aug 31, 2014
  • Zillow Rent Index

  • $1,910 Troy
    $1,062 Detroit Metro
    $1,328 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 1.3 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • $1,795 Rent list price
  • $1.02 Rent list price / sq ft
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