Troy, Michigan Demographics & Population 2026
During the 2020–2024 ACS period, Troy, Michigan had a total population of 87,898, the 9th largest city in Michigan, with a median household income of $120,045, which is 65% higher than the state average. The poverty rate is 5.4%.
Data vintage: U.S. Census Bureau ACS 2020–2024 5-Year Estimates · refreshed July 2026 · Methodology & source notes
Key Takeaways
- Household income is 65% above the state average — one of the wealthiest communities in Michigan.
- 64.8% of adults hold a bachelor's degree or higher — top 10% in Michigan.
Troy Quick Facts
How Troy Changed
Change from the 2019–2023 ACS period to 2020–2024. These are rolling five-year estimates, not year-over-year measurements.
| Metric | 2019–2023 | 2020–2024 | Change |
|---|---|---|---|
| Population | 87,307 | 87,898 | +0.7% |
| Median household income | $119,299 | $120,045 | +0.6% |
| Median home value | $396,800 | $420,300 | +5.9% |
How Troy Compares
Median Household Income
Median Home Value
Economy & Housing
Household Income Distribution
Detailed income brackets
Employment
Housing Overview
People & Demographics
Age Distribution
Race & Ethnicity
Diversity Index
A diverse community with significant representation from multiple racial and ethnic groups.
State average: 45 | National average: 61
Education
Educational Attainment (Adults 25+)
Troy Rankings in Michigan
Explore Michigan Rankings
Other Cities in Oakland County
| City | Population | Median Income | Poverty | Home Value |
|---|---|---|---|---|
| Farmington Hills | 83,515 | $104,836 | 7.6% | $354,500 |
| Rochester Hills | 77,089 | $120,694 | 5.2% | $409,800 |
| Southfield | 76,236 | $68,166 | 10.3% | $236,200 |
| Novi | 66,717 | $110,723 | 5.4% | $421,900 |
| Pontiac | 62,104 | $44,329 | 24.4% | $121,700 |
| Royal Oak | 57,950 | $101,109 | 6.2% | $328,700 |
| Oak Park | 29,318 | $71,510 | 12.0% | $212,300 |
| Madison Heights | 28,419 | $69,503 | 10.8% | $199,100 |
| Auburn Hills | 25,105 | $84,375 | 11.1% | $245,000 |
| Birmingham | 21,763 | $153,510 | 5.1% | $698,300 |
Cities Similar to Troy
These cities in the same state have comparable population and economic profiles.
| City | Population | Median Income | Home Value | Bachelor's+ | Poverty |
|---|---|---|---|---|---|
| Farmington Hills | 83,515 | $104,836 | $354,500 | 57.6% | 7.6% |
| Rochester Hills | 77,089 | $120,694 | $409,800 | 61.4% | 5.2% |
| Livonia | 93,851 | $98,460 | $281,100 | 41.9% | 4.7% |
| Novi | 66,717 | $110,723 | $421,900 | 64.1% | 5.4% |
| Wyoming | 77,353 | $73,677 | $225,200 | 25.5% | 10.5% |
Population Overview
Troy is a mid-sized community located in Michigan, within Oakland County. The total population is 87,898. It ranks as the 9th most populous out of 745 Census-designated places in Michigan.
Age Demographics
The median age in Troy is 42.0 years. This is 4% higher than the state median of 40.2 years.
Economy, Income & Housing
The median household income in Troy is $120,045. This is 65% higher than the state median of $72,875. It is also 49% higher than the national median of $80,734. The poverty rate stands at 5.4%. This is 59% lower than the state poverty rate of 13.2%. The unemployment rate is 4.4%. This is 24% lower than the state rate of 5.7%. The median home value is $420,300. Housing costs are 81% higher than the state median of $231,600. The home-value-to-income ratio is 3.5x. 73.3% of occupied housing units are owner-occupied.
Race & Ethnicity
The largest racial or ethnic group in Troy is White (non-Hispanic), making up 61.0% of the population. Asian residents account for 27.8%. The Black or African American population (3.7%) is well below the state average of 13.1%. The Hispanic or Latino population (2.6%) is well below the state average of 5.9%. The Asian population is significantly higher than the state average (27.8% vs 3.4%).
Education
64.8% of residents aged 25 and older hold a bachelor's degree or higher. This places Troy in the top 10% of all cities in the state for educational attainment. This is 100% higher than the state rate of 32.5%. Nationally, 35.7% of adults hold at least a bachelor's degree. The high school graduation rate (or equivalent) is 95.0%. Notably, 31.9% of adults hold a graduate or professional degree, indicating a highly educated workforce.
Data Sources & Methodology
All demographic data for Troy, Michigan is sourced from the U.S. Census Bureau's American Community Survey (ACS) 2020–2024 5-Year Estimates. The ACS collects data from approximately 3.5 million households annually and pools five years of responses so that even small communities can be measured, though the margin of error widens as the population falls. Comparisons are made against Michigan state averages and national averages calculated from the same dataset. Rankings reflect the city's position among all 745 Census-designated places in Michigan. Read more about how these figures are produced on our methodology page, or visit data.census.gov for official data.
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Frequently Asked Questions
What is the population of Troy, Michigan?
Troy, Michigan has a population of 87,898 according to the most recent U.S. Census ACS 5-Year Estimates.
What is the median household income in Troy, MI?
The median household income in Troy is $120,045, which is 49% higher than the national median of $80,734.
What is the poverty rate in Troy, MI?
The poverty rate in Troy is 5.4%. This means approximately 4,713 residents live below the federal poverty line.
What is the racial makeup of Troy, Michigan?
Troy's population is 61.0% White, 3.7% Black, 2.6% Hispanic/Latino, and 27.8% Asian.
What is the median home value in Troy, MI?
The median home value in Troy is $420,300. The home-value-to-income ratio is 3.5x.
How educated is Troy, Michigan?
64.8% of adults (25+) in Troy hold a bachelor's degree or higher, and 31.9% hold a graduate or professional degree.