Real Estate Investing in Troy, Michigan (48098)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 48098 (Troy, MI)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
What’s happening in Troy, MI (48098)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 48098 Troy
ZIP 48098 inside Oakland County looks affordable on the surface — median value of $597K — but the discount exists for reasons that a careful buyer should understand before committing.
Rent of $2,201/mo on a $597K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 48098 sits below the stated 0.0% once reality is priced in.
Within MI, ZIP 48098 trails on several market indicators that neighboring Oakland County submarkets outperform. The gap is real and significant enough to shape underwriting.
Resident income in 48098 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
appears to the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Troy:
Property Strategy for 48098
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $269,824 | $1,940 | 5.2% | +4.6% | $134,912 |
| 3BR | $424,905 | $2,370 | 4.0% | +6.5% | $141,635 |
| 4BR | $651,573 | $2,570 | 2.8% | +7.5% | $162,893 |
| 5BR | $794,429 | — | — | +7.7% | $158,886 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 48098 Compare?
| Metric | 48098 | Troy | Detroit-Warren-Dearborn, MI | Michigan |
|---|---|---|---|---|
| Home Value | $597,190 | $480,365 | N/A | $253,279 |
| 5-Year CAGR | 6.1% | 5.3% | N/A | 6.8% |
| Avg Rent | $2,201 | $2,126 | N/A | - |
| Cap Rate | 2.9% | 3.5% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 48098 (Troy, MI). Anonymous, moderated, never written by AI.
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Property managers serving Oakland County
Manage rentals here? List your business →Symmetry Management specializes in commercial real estate management. summary from their website
Beacon Management offers property management services for various communities and properties across Michigan, including Ann Arbor, Auburn Hills, Bloomfield Hills, Canton, and Southfield. summary from their website
Great Day Realty is a real estate company. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $597,190 |
| Monthly Rent | $2,201 |
| Price-to-Rent | 22.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.4% |
| Cap Rate | 2.9% |
| 5-Year IRR | 9.0% |
📈 Home Appreciation
| 1-Year | +6.8% ▲ |
| 3-Year CAGR | +5.7% ▲ |
| 5-Year CAGR | +6.1% ▲ |
| 10-Year CAGR | +5.5% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.9%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 48098
Population: 20,658
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 48098
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Eastover Elementary School
Harlan Elementary School
Pembroke Elementary School
Bemis Elementary School
Schroeder Elementary School
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 6,445 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What price range are homes in Troy, MI?
Typical homes in Troy, MI go for around $597K. The 5-year CAGR of 0.0% consistent price movement.
What is the best play in Troy, MI?
Investors usually favor careful cash-flow rentals with hands-on management in Troy, MI. With home values at $597K and rents near $2,201/mo, other strategies can work but produce consistent rather than outsized returns.
Is Troy, MI landlord-friendly?
Rental owners in Troy, MI deal with a landlord-friendly legal framework. Most standard eviction processes run on reasonable timelines.
What kind of market is Troy, MI for investors?
The 3.0/5 investability rating in Troy, MI reflects its $597K prices and $2,201/mo rents. Investors generally consider it a solid option within MI.
What kind of tenants rent in Troy, MI?
The tenant pool in Troy, MI is solid, supported by local employment and population fundamentals. Rents of $2,201/mo are well-absorbed by the market.
You know 48098 now. You don’t know where it ranks.
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How 48098 ranks in Detroit-Warren-Dearborn, MI
Every ZIP in this metro, ranked. Free.
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