diff --git a/asv_bench/benchmarks/timestamp.py b/asv_bench/benchmarks/timestamp.py
new file mode 100644
index 0000000000000..066479b22739a
--- /dev/null
+++ b/asv_bench/benchmarks/timestamp.py
@@ -0,0 +1,60 @@
+from .pandas_vb_common import *
+from pandas import to_timedelta, Timestamp
+
+
+class TimestampProperties(object):
+    goal_time = 0.2
+
+    def setup(self):
+        self.ts = Timestamp('2017-08-25 08:16:14')
+
+    def time_tz(self):
+        self.ts.tz
+
+    def time_offset(self):
+        self.ts.offset
+
+    def time_dayofweek(self):
+        self.ts.dayofweek
+
+    def time_weekday_name(self):
+        self.ts.weekday_name
+
+    def time_dayofyear(self):
+        self.ts.dayofyear
+
+    def time_week(self):
+        self.ts.week
+
+    def time_quarter(self):
+        self.ts.quarter
+
+    def time_days_in_month(self):
+        self.ts.days_in_month
+
+    def time_freqstr(self):
+        self.ts.freqstr
+
+    def time_is_month_start(self):
+        self.ts.is_month_start
+
+    def time_is_month_end(self):
+        self.ts.is_month_end
+
+    def time_is_quarter_start(self):
+        self.ts.is_quarter_start
+
+    def time_is_quarter_end(self):
+        self.ts.is_quarter_end
+
+    def time_is_year_start(self):
+        self.ts.is_quarter_end
+
+    def time_is_year_end(self):
+        self.ts.is_quarter_end
+
+    def time_is_leap_year(self):
+        self.ts.is_quarter_end
+
+    def time_microsecond(self):
+        self.ts.microsecond
diff --git a/doc/source/whatsnew/v0.21.0.txt b/doc/source/whatsnew/v0.21.0.txt
index f7cd8230c8b9b..33a6db18db3ca 100644
--- a/doc/source/whatsnew/v0.21.0.txt
+++ b/doc/source/whatsnew/v0.21.0.txt
@@ -382,7 +382,7 @@ Performance Improvements
 
 - Improved performance of instantiating :class:`SparseDataFrame` (:issue:`16773`)
 - :attr:`Series.dt` no longer performs frequency inference, yielding a large speedup when accessing the attribute (:issue:`17210`)
-
+- :attr:`Timestamp.microsecond` no longer re-computes on attribute access (:issue:`17331`)
 
 .. _whatsnew_0210.bug_fixes:
 
diff --git a/pandas/_libs/period.pyx b/pandas/_libs/period.pyx
index 2f15e2c105209..106d4c4bae2fc 100644
--- a/pandas/_libs/period.pyx
+++ b/pandas/_libs/period.pyx
@@ -1,3 +1,4 @@
+# -*- coding: utf-8 -*-
 from datetime import datetime, date, timedelta
 import operator
 
diff --git a/pandas/_libs/tslib.pyx b/pandas/_libs/tslib.pyx
index 74c84b8679073..30f2982b6f070 100644
--- a/pandas/_libs/tslib.pyx
+++ b/pandas/_libs/tslib.pyx
@@ -546,10 +546,6 @@ class Timestamp(_Timestamp):
 
     weekofyear = week
 
-    @property
-    def microsecond(self):
-        return self._get_field('us')
-
     @property
     def quarter(self):
         return self._get_field('q')