Salaries in Troy, MI

Here’s the thing about Troy: for a city with a population that’s basically a small town, it punches way above its weight in salaries. The median household income is $106,965, which is staggering for a place of 87,000 people. It feels less like a suburb and more like a corporate enclave that swallowed a neighborhood.

The cost of living index sits at 98.0, just under the national average. That’s the secret sauce. You’re not paying a premium to live here, but you’re earning like you are. Take a software developer pulling $126,496. After adjusting for that COL index, their real purchasing power is closer to $129,078. That’s a tangible advantage. A one-bedroom apartment runs about $1,029 a month, which feels almost quaint next to those salaries.

This isn’t an accident. Troy is a heavyweight in automotive tech, finance, and engineering. You’ve got giants like Fiat Chrysler’s North American headquarters and a heavy footprint from companies like Delphi and IBM. The workforce is educated—65.1% have a bachelor’s degree or higher—and it shows in the paychecks for roles like accountants and nurses, who both clear $85,000.

The catch? The average salary across all roles is $54,057. That’s the reality for many retail and service jobs, and it’s a stark contrast to the top-tier earners. Wages are generally stable, with unemployment at 4.0%, but they’re not keeping pace with the rapid gains in the tech and corporate sectors. Troy works beautifully if you’re in one of those high-skill fields. For everyone else, it’s a comfortable but tight fit.

The data below breaks down exactly who wins and who just gets by.