Quick facts: New troy, MI

Quick Facts

94.9
Cost of Living
below US average
367
Population
348.77
Crime Rate per 1000
above US average
$63,906
Median Income
below US average
$120,000
Median House Price
above US average
$1435
Average Rent
above US average
11%
Poverty Rate
above US average
3.8%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $63,906.

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Income Needed to Buy

βœ“ Affordable
$38k/year
Based on $120,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($63,906) exceeds requirement
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Income Needed to Rent

βœ“ Affordable
$61k/year
Based on $1435/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($63,906) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for New troy, MI

New Troy is a small unincorporated community located in Berrien County, Michigan. Nestled near the borders of Indiana, it offers a quaint and friendly atmosphere with a close-knit community vibe. The area is predominantly residential and is characterized by its rural charm, featuring lush greenery and a peaceful environment. One of the notable aspects of New Troy is its proximity to Lake Michigan, which is just a short drive away, providing residents and visitors access to beautiful beaches and recreational opportunities. The community is also near several parks, making it an ideal place for outdoor activities such as hiking, picnicking, and fishing. Although New Troy is relatively small, it has a few local businesses and amenities that cater to the daily needs of residents. The surrounding area features larger towns and cities, where more extensive shopping and dining options are available. With its serene setting and community spirit, New Troy serves as a perfect retreat for those looking to escape the hustle and bustle of urban life, while still being able to access the attractions and conveniences of nearby larger cities.

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