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New Report Fall 2026 Housing Affordability Report: every state is less affordable than in late August as average 30-year mortgage rates passed 7%. Read the report

New Troy, MI Housing Affordability Index

New Troy, Michigan has an MBR Housing Affordability Index score of 125.8 (Highly Affordable) as of October 30, 2026, ranking 322nd most affordable of 629 scored Michigan cities, compared with 108.6 statewide and 97.4 nationally. On a median-priced $167,600 home with 20% down, the Michigan average 30-year fixed rate of 7.31% means a monthly principal and interest payment of about $920, or 19% of the city’s $56,776 median household income.

The MBR Housing Affordability Index (MBR-HAI) for New Troy is updated every night from live Michigan mortgage rates and U.S. Census Bureau income, home value and housing cost data for the city. A score of 100 equals the national average; higher scores mean homeownership is more affordable.

New Troy MBR-HAI 125.8 Highly Affordable
Rank in Michigan 322 of 629 1 = most affordable
Michigan 108.6 Statewide score
National 97.4 100 = baseline
Avg 30-yr rate 7.31% Michigan lenders
Median home value $167,600 U.S. Census Bureau

New Troy is 17.1 points above the Michigan score. Scores as of October 30, 2026. See the Michigan index

View New Troy Mortgage Rates

What It Takes to Buy in New Troy

$920/mo
Principal & Interest
Median home, 20% down, 7.31%
$39,400
Income Needed
To keep the payment at 28% of income
$56,776
Median Household Income
Michigan: $72,875
3.0x
Price-to-Income Ratio
Michigan: 3.2x
$764/mo
Median Owner Costs
Mortgage, taxes, insurance, utilities
$1,363/yr
Median Property Tax
0.81% of median value
33.7%
Owner Cost Burden
Owners spending 30%+ of income on housing
31.4%
Renter Cost Burden
Renters spending 30%+ of income on rent

Source: U.S. Census Bureau American Community Survey 5-Year Estimates (2024) for New Troy, Michigan. The rate is the Michigan average 30-year fixed rate from MonitorBankRates, since lenders publish rates by state.

Cite the New Troy Score

“MonitorBankRates (MBR) Housing Affordability Index, MonitorBankRates.com, October 30, 2026. New Troy, Michigan score: 125.8 (Highly Affordable), ranked 322 of 629 Michigan cities. monitorbankrates.com/housing-affordability-index/michigan/new-troy”