Troy, MI Livability

Living in Troy, MI

Troy is a moderately-sized city located in the state of Michigan. The city has a population of 82,982 residents. According to the most recent Census, 70% of Troy residents are White, 23% Asian and 4% Black. 86% of the people in Troy (over the age of 15) are married and 55% have kids under the age of eighteen. Knowing that, it’s safe to say that this area could be a great place for other families to lay down roots.

Without the right tools, relocating to any new area can be very stressful and challenging. Living in Troy, Michigan could be a positive experience for anyone who puts in the effort to do the research required. Using the livability score which includes data from categories like amenities, crime, cost of living, employment, housing, you can easily compare the best places to live in Troy and also determine if there are any nearby cities that might be a better match for your lifestyle. You can also compare Troy to Michigan and the national average.

Troy has a livability score of 87/100 and is ranked #9 in Michigan and #194 in the USA. Clearly, Troy is doing something right, as this score ranks well above the average of most cities. Troy also ranks in the top 10 percent of all cities, which is no small feat! There are seven total categories that form the livability score. Troy scores well for amenities (A+), crime (A+), education (A+), employment (B) and housing (A). On a more negative note, Troy does not have favorable ranks for the following: cost of living (D-) and weather (D). If we take a look at the data, we can find out why.

Based on the proximity of local amenities like grocery stores, restaurants, coffee shops, parks, librairies, etc., Troy has received a higher than average score for its local amenities. If you’re planning on relocating and making this area your permanent home, it’s nice to know that there is an ample amount of amenities and things to do within walking distance or a short drive. Some of the interesting things to do and attractions include: Somerset Collection, Troy Museum & Historic Village, and Motor City Tour Company.

Low violent crime (murder, rape, robbery, assault) is a must for most people when searching for a new area to live. At 65 crimes per 100,000 residents, Troy has a violent crime rate that is far below the national average.

School test scores can be an important metric in deciding if the local area schools can provide a solid educational system for children. The schools in Troy have a test score average of 69%, which is well above the US average.

Finding affordable real estate and apartments for rent in Troy can be tricky. Having said that, this area might be the place to get the best of both worlds. Based on factors like home/rental affordability and appreciation rates, this area has received an above average score in the housing category.

Assuming that Troy meets all of your requirements, the next most important item to examine is the affordability of real estate in Troy. Everything else becomes a lot less important if it turns out that home prices in Troy are simply unattainable. The median home price for Troy homes is $247,200, which is 93.4% higher than the Michigan average. If we take a closer look at the affordability of homes in Troy, we’ll see that the home price to income ratio is 2.8, which is 12% higher than the Michigan average. For most people, purchasing a new home is the biggest investment they will make in their lifetime. Taking a look at overall real estate appreciation rates in Troy will offer some insight into determining if your home purchase will be a solid investment for years to come. In Troy, the year-over-year appreciation rates were 3.9%, and the 5 year appreciation rates came in at 7.9%.

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