ZIP Code 48098 — Troy, MI Home Prices (2026)
The typical home in ZIP 48098 (Troy, Michigan) is worth about $597,000 at roughly $256 per square foot — 24% more expensive than the Troy median and 103% more expensive than the typical U.S. home.
How 48098 compares
ZIP 48098 is one of the pricier ZIP codes in Troy: its typical home value of $597,000 ranks #1 of the 4 Troy ZIP codes we track (the citywide range runs from $363,000 in 48083 to $597,000 in 48098). Per square foot it costs about $256, against $243 for Troy as a whole, $190 for Michigan, and $195 nationally.
| Area | Typical value | $ / sq ft |
|---|---|---|
| ZIP 48098 | $597,000 | $256 |
| Troy, MI | $480,500 | $243 |
| Michigan | $251,000 | $190 |
| United States | $294,000 | $195 |
Home value by size in 48098
Using this ZIP’s rate of about $256 per square foot. Condition, lot, and the exact street move these meaningfully — use the estimator below for a home-specific figure.
| Home size | Estimated value |
|---|---|
| 1,000 sq ft | $256,000 |
| 1,500 sq ft | $384,000 |
| 2,000 sq ft | $512,000 |
| 2,500 sq ft | $640,000 |
| 3,000 sq ft | $768,000 |
Salary needed to buy a home in ZIP 48098
To buy the typical $597,000 home in ZIP 48098 with 20% down, you need a household income of roughly $162,000 a year (about $3,790 a month for the mortgage, taxes, and insurance). With 10% down the bar rises to about $193,000, because the loan is bigger and mortgage insurance kicks in.
| Down payment | Cash down | Monthly payment | Income needed |
|---|---|---|---|
| 5% (+PMI) | $29,900 | $4,710/mo | $202,000/yr |
| 10% (+PMI) | $59,700 | $4,500/mo | $193,000/yr |
| 20% | $119,400 | $3,790/mo | $162,000/yr |
Assumes a 30-year fixed mortgage at 6.5%, property tax at 1.1% and insurance at 0.45% of value per year, PMI of 0.75% on loans with less than 20% down, and the standard 28% housing-to-income rule. Your rate, taxes, and HOA will move these — run your own numbers in the mortgage calculator.
What your budget buys in ZIP 48098
At about $256 per square foot, here is roughly how much home different budgets get you in ZIP 48098:
| Budget | Approx. size | What that looks like locally |
|---|---|---|
| $300k | 1170 sq ft | below the local median — condos, smaller or older homes |
| $400k | 1560 sq ft | below the local median — condos, smaller or older homes |
| $500k | 1950 sq ft | around the typical home here |
| $600k | 2340 sq ft | around the typical home here |
| $750k | 2930 sq ft | around the typical home here |
Wondering where that budget goes further? The relocation calculator ranks hundreds of U.S. cities by what the same money buys — it opens pre-filled with a typical 48098 home.
Estimate a specific home in 48098
The estimator below is pre-set to ZIP 48098 — pick your home’s size for an instant ballpark, then open the full calculator to adjust beds, baths, and condition.
All Troy ZIP codes by home value
Where 48098 sits among Troy’s 4 ZIP codes:
| # | ZIP code | Typical value | $ / sq ft |
|---|---|---|---|
| 1 | 48098 (this page) | $597,000 | $256 |
| 2 | 48084 | $492,000 | $237 |
| 3 | 48085 | $469,000 | $243 |
| 4 | 48083 | $363,000 | $242 |
ZIP 48098 home prices: frequently asked
What is the average home price in ZIP code 48098? +
What is the price per square foot in 48098? +
What salary do you need to buy a house in ZIP 48098? +
Is 48098 an expensive ZIP code? +
See the full Troy home values page, all Michigan cities, or price per square foot by ZIP code nationwide.
Directional estimates from public market data (Realtor.com & Zillow research), not appraisals. A single ZIP contains very different homes; actual values vary and change over time.