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This question is about Troy, MI.
What is a good salary in Troy, MI?
A good salary in Troy, MI is anything over $71,000. That's because the median income in Troy is $71,000, which means if you earn more than that you're earning more than 50% of the people living in Troy. The average salary in Troy is $81,807.
A good hourly wage in Troy is $34.13 per hour. That works out to a good weekly wage of $1,365 per week and a good monthly wage of $5,916 per month. However, using the median income is only one way to calculate a good salary in Troy.
Another way to calculate a good salary in Troy is to look at the price of housing and use that to back into a good salary. Experts agree that you want to maintain about a 5 to 1 home price to income ratio. Based on the median home price of $301,500, a good salary in Troy would be $60,300.
Lastly, we can determine a good salary in Troy by looking at the cost of living and comparing it to the US average salary. The cost of living in Troy is 11% higher than than the national average. The national average salary is $56,310, so a good salary in Troy is anything over $62,504 by this measure.
Average Annual Salary in Troy, MI
| Percentile | Annual Salary | Monthly Pay | Weekly Pay | Hourly Wage |
| 10th | $35,000 | $2,916 | $673 | $16.83 |
| 25th | $49,000 | $4,083 | $942 | $23.56 |
| Median | $71,000 | $5,916 | $1,365 | $34.13 |
| 75th | $101,000 | $8,416 | $1,942 | $48.56 |
| 90th | $140,000 | $11,666 | $2,692 | $67.31 |
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