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Affordable
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These days, finding an affordable place to live in the Troy area can be challenging. Home prices in Troy are now at a median cost of $187,016, lower than the Alabama average of $228,911.
The average cost of rent is $879/mo in Troy, primarily driven by the current value of real estate in the Troy area. In Troy, 47.48% of households rent, and 41.79% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Troy is $4,466 per month. Households that rent pay about 19.68% of their income on rent here. Troy’s most expensive areas are in the western regions, while the cheapest areas are in the northeastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Dunn, AL: less expensive homes
- Antioch, AL: equally priced homes
- Shellhorn, AL: less expensive homes
- Goshen, AL: less expensive homes
- Catalpa, AL: less expensive homes
- Henderson, AL: less expensive homes
- Pronto, AL: less expensive homes
- Tarentum, AL: less expensive homes
- Brundidge, AL: less expensive homes
- Monticello, AL: less expensive homes
Cities with Similar Populations
- Sabana Grande, PR: less expensive homes
- Lennox, CA: higher priced homes
- Aberdeen, MD: higher priced homes
- Live Oak, FL: equally priced homes
- Livingston, TX: higher priced homes
- Lochearn, MD: higher priced homes
- Lucedale, MS: less expensive homes
- Oldsmar, FL: higher priced homes
- Panama City Beach, FL: higher priced homes
- Red Lion, PA: higher priced homes
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