New Homes Troy Michigan: Growth Along Rochester Road

Troy issued 1,847 residential and commercial building permits in the first six months of 2026, a 22 percent jump from the same stretch in 2025, according to Oakland County planning records.

The surge tracks directly with the completion of the Rochester Road widening project last fall and the opening of a new 1.2-mile bus rapid transit spur that links Troy to the QLINE streetcar terminal at Congress and Woodward in downtown Detroit. Those two pieces of infrastructure now give Troy residents a 28-minute ride to Eastern Market on weekdays.

Rochester Road corridor draws buyers

Developers have filed plans for 312 townhomes and three mid-rise office buildings on the 18-acre parcel between Big Beaver and 14 Mile, just west of the new transit stop. The site sits two blocks from the Troy Public Library and the Somerset Collection, both of which reported record foot traffic in May. Local real estate firms note that median sale prices on those blocks reached $478,000 in June, up from $392,000 two years earlier.

The Michigan Land Bank Authority has also transferred two former industrial parcels near the I-75 interchange to a mixed-use developer, part of a larger effort to connect Troy’s job centers with the Michigan Central Station redevelopment six miles south in Detroit’s Corktown neighborhood.

Prices and timing for buyers

County assessor data show Troy’s overall median home value at $412,000 as of July 1, still below neighboring Birmingham but above the metro average of $298,000. Property taxes on a typical three-bedroom house run about $6,800 annually. The city’s next planning commission meeting on July 21 will review final site plans for the Rochester corridor projects.

Prospective buyers or small investors should review the updated zoning map on the city website and contact the Troy Downtown Development Authority for details on available tax abatements before the August filing deadline.