Real Estate Prices and Overview
Median real estate prices in the City Center of Troy are $286,533, which is more expensive than 96.0% of the neighborhoods
in Michigan and 76.3% of the
neighborhoods in the U.S.
Average rental prices in Troy City Center are currently
$1,035, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 86.3%
of the neighborhoods in Michigan.
Troy City Center is a suburban neighborhood (based on population
density) located in Troy, Michigan.
Real estate in the City Center of Troy, MI is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and townhomes.
Most of the residential real estate is owner occupied. Many of
the residences in the City Center neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.
Real estate vacancies in Troy City Center are 5.8%,
which is lower than one will find in 71.2% of American
neighborhoods. Demand for real estate in Troy City Center
is above average for the U.S., and may signal some demand for either
price increases or new construction of residential product for this neighborhood.
Notable & Unique Neighborhood Characteristics
Many things matter about a neighborhood, but the first thing most people notice
is the way a neighborhood looks and its particular character. For example, one
might notice whether the buildings all date from a certain time period or whether
shop signs are in multiple languages. This particular neighborhood in Troy,
the City Center neighborhood, has some outstanding things about the way it
looks and its way of life that are worth highlighting.
Notable & Unique: Diversity
Did you know that the Troy City Center neighborhood has more
Greek and Finnish ancestry people living in it than nearly
any neighborhood in America? It's true! In fact, 4.2% of
this neighborhood's residents have Greek ancestry and 1.7% have Finnish ancestry.
Troy City Center is also pretty special linguistically. Significantly, 2.9% of its residents five years old and above primarily
speak Greek at home. While this may seem like a small percentage, it is higher
than 99.5% of the neighborhoods in America.
Notable & Unique: People
A majority of the adults in the Troy City Center neighborhood
are wealthy and educated executives. They own stately
homes that tend to maintain high real estate appreciation rates. Their
upper-level careers keep them busy, but allow them to live comfortably.
If you're an executive and want to keep similar company, consider settling
in this neighborhood, rated as an executive lifestyle
"best choice" neighborhood for Michigan by NeighborhoodScout's analysis,
which rated it as better for executive lifestyles than 97.9%
of the neighborhoods in Michigan.
In addition to being an excellent choice for highly educated executives, this
neighborhood is also a very good choice for urban sophisticates and families with school-aged children.
The Neighbors: Income
There are two complimentary measures for understanding the income of a
neighborhood's residents: the average and the extremes. While a neighborhood
may be relatively wealthy overall, it is equally important to understand
the rate of people - particularly children - who are living at or below the
federal poverty line, which is extremely low income. Some neighborhoods with
a lower average income may actually have a lower childhood poverty rate than
another with a higher average income, and this helps us understand the
conditions and character of a neighborhood.
The neighbors in the City Center neighborhood in Troy are wealthy, making it among the 15% highest income neighborhoods in America.
NeighborhoodScout's exclusive analysis reveals that this neighborhood has
a higher income than 92.4% of the neighborhoods in America.
In addition, 9.2% of the children seventeen and under
living in this neighborhood are living below the federal poverty line, which
is a lower rate of childhood poverty than is found in 64.6%
of America's neighborhoods.
The Neighbors: Occupations
The old saying "you are what you eat" is true. But it is also true that you
are what you do for a living. The types of occupations your neighbors have
shape their character, and together as a group, their collective occupations
shape the culture of a place.
In the Troy City Center neighborhood, 59.4%
of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is
sales and service jobs, from major sales accounts, to working in fast food restaurants, with 20.4% of the residents employed.
Other residents here are employed in clerical, assistant, and tech support occupations
(12.0%), and 8.3% in manufacturing and laborer occupations.
The Neighbors: Ethnicity / Ancestry
Culture is shared learned behavior. We learn it from our parents, their parents,
our houses of worship, and much of our culture – our learned behavior - comes
from our ancestors. That is why ancestry and ethnicity can be so interesting
and important to understand: places with concentrations of people of one or
more ancestries often express those shared learned behaviors and this gives
each neighborhood its own culture. Even different neighborhoods in the same
city can have drastically different cultures.
In the City Center neighborhood in Troy, MI, residents
most commonly identify their ethnicity or ancestry as German
(17.8%). There are also a number of people of Asian ancestry (15.6%) , and residents who report Polish roots (8.9%) , and some of the residents are also of Italian ancestry (6.4%) , along with some English ancestry residents (6.0%), among others. In addition, 16.4% of the residents of this neighborhood were born in another country.
The Neighbors: Languages
The languages spoken by people in this neighborhood are diverse. These are
tabulated as the languages people preferentially speak when they are
at home with their families.
The most common language spoken in the Troy City Center
neighborhood is English, spoken by 74.6% of households. Other important languages spoken here include Chinese, South Asian languages, Greek and Hindi (which is the official language of India).
Getting to Work
Even if your neighborhood is walkable, you may still have to drive to your
place of work. Some neighborhoods are located where many can get to work in
just a few minutes, while others are located such that most residents have a
long and arduous commute.
The greatest number of commuters in Troy City Center neighborhood spend
between 15 and 30 minutes commuting one-way to work (48.8% of working
residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (91.9%) drive alone in a private automobile to get to work.
In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (7.3%) . In a neighborhood like this, as in most of the nation, many residents find owning
a car useful for getting to work.