How Much Does An Average Home Cost in Troy?

In its latest national home listing report, released last week, Coldwell Banker ranks Troy as the 39th most expensive home market in Michigan with the average price of a typical four-bedroom, two-bath home listed at $228,404.

Coldwell Banker's commmunity overview puts the median Troy household income at $90,411 and says 36 percent of households are families with children. Half the population commutes 22 minutes or more to work and 79 percent of residents hold white collar jobs while 21 percent residents hold blue collar jobs.

According to the report, which looked at 2,479 communities across the country, the average price of a typical four-bedroom, two-bath in the United States is $292,152. That price tag jumps to $742,551 in Hawaii, the nation’s most expensive state.

Joining Troy in the Great Lake State's priciest communities, according to Coldwell Banker, are a number of neighboring towns, such as Birmingham, Bloomfield Township, Royal Oak, Rochester Hills, and Berkley.

Redford, meanwhile, is the least expensive community in state and the entire nation, according to Coldwell Banker, with an average listing price of $60,490 for a four-bedroom, two-bathroom home.

Source: Coldwell Banker's Michigan Home Listing Report. *Communities in Michigan were ranked from 1 to 99 in the report.