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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 $282,044, lower than the Illinois average of $300,242.
The average cost of rent is $1,194/mo in Troy, primarily driven by the current value of real estate in the Troy area. In Troy, 17.78% of households rent, and 28.26% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Troy is $9,618 per month. Households that rent pay about 12.41% of their income on rent here. Troy’s most expensive areas are in the southwestern regions, while the cheapest areas are in the central parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Kuhn Station, IL: higher priced homes
- Lumaghi Heights, IL: higher priced homes
- Maryville, IL: less expensive homes
- St. Jacob, IL: equally priced homes
- Glen Carbon, IL: equally priced homes
- Collinsville, IL: less expensive homes
- Meadow Heights, IL: less expensive homes
- Fruit, IL: higher priced homes
- Edwardsville, IL: equally priced homes
- Marine, IL: less expensive homes
Cities with Similar Populations
- Kingston, MA: higher priced homes
- Sellersville, PA: higher priced homes
- Selinsgrove, PA: less expensive homes
- San Marino, CA: higher priced homes
- Loomis, CA: higher priced homes
- Lincolnwood, IL: higher priced homes
- Leon Valley, TX: less expensive homes
- Leitchfield, KY: less expensive homes
- Lake Wylie, SC: higher priced homes
- Lafayette, TN: less expensive homes
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