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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Troy, IL Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Troy, IL Housing Market Trends

With 11,131 people, 4,244 houses or apartments, and a median cost of homes of $281,098, Troy real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Troy, accounting for 72.72% of the city's housing units. Other types of housing that are prevalent in Troy include duplexes, homes converted to apartments or other small apartment buildings ( 12.13%), large apartment complexes or high rise apartments ( 6.89%), and a few row houses and other attached homes ( 6.27%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Troy. Owner-occupied housing accounts for 73.19% of Troy's homes, and 60.95% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Troy built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Troy built between 2000 and later ( 28.09%). A lesser amount of the housing stock also hails from between 1940-1969 ( 10.91%). There's also some housing in Troy built before 1939 ( 7.03%).

Troy Home Appreciation Rates

Troy's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Troy during the period has been just 4.45%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Troy's appreciation rate, at 6.65%, has been at or slightly above the national average. In the latest quarter, Troy's appreciation rate has been -0.41%, which annualizes to a rate of -1.64%.

Relative to Illinois, our data show that Troy's latest annual appreciation rate is higher than 70% of the other cities and towns in Illinois.

Average Home Values

Median Home Value

$281,098

Troy, IL Home Prices
> $1,269,000
$952,001 - $1,269,000
$635,001 - $952,000
$508,001 - $635,000
$381,001 - $508,000
$254,001 - $381,000
$127,001 - $254,000
$64,001 - $127,000
$0 - $64,000
0.8%
0.8%
0.8%
0.8%
2.9%
2.9%
6.0%
6.0%
14.5%
14.5%
37.5%
37.5%
32.0%
32.0%
2.4%
2.4%
3.2%
3.2%
0% 100.0%
% of Homes
High

for Illinois

Average

for nation

Number of Homes And Apartments:

4,244

Troy Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,327 / per month

Homeownership Rate

Owners
Renters
73.2%
73.2%
26.8%
26.8%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
4.7%
4.7%
95.3%
95.3%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
28.1%
28.1%
54.0%
54.0%
10.9%
10.9%
7.0%
7.0%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
72.7%
72.7%
6.3%
6.3%
12.1%
12.1%
6.9%
6.9%
2.0%
2.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.2%
0.2%
5.1%
5.1%
30.3%
30.3%
39.3%
39.3%
21.6%
21.6%
3.5%
3.5%
0% 100.0%
% of Homes