Cost of Living in Troy, MI
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
170.1
100 = national avg
+70.1 vs national average
Living Wage (1 Adult)
$74,835
per year
Living Wage (Family of 4)
$176,882
per year
Cost Index by Category
Housing190.3
Food141.2
Transportation182.4
Healthcare132.9
Utilities142.8
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$1,122
per month
2 Bedroom
$1,411
per month
The overall cost of living index in Troy is 170.1, which is 70.1% above the national average. Housing costs are above the national average at an index of 190.3. A single adult needs to earn approximately $74,835 per year to cover basic expenses.