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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 2,945 people, 1,035 houses or apartments, and a median cost of homes of $247,420, house prices in Troy are solidly below the national average.
Single-family detached homes are the single most common housing type in Troy, accounting for 55.87% of the town's housing units. Other types of housing that are prevalent in Troy include duplexes, homes converted to apartments or other small apartment buildings ( 32.47%), large apartment complexes or high rise apartments ( 5.05%), and a few row houses and other attached homes ( 4.01%).
Renters dominate Troy's housing market, and most live in three of four bedroom dwellings, chiefly found in single-family detached homes.
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 1940-1969 ( 37.00%). A lesser amount of the housing stock also hails from before 1939 ( 11.96%). There's also some housing in Troy built between 2000 and later ( 6.17%).
Vacant housing appears to be an issue in Troy. Fully 23.11% of the housing stock is classified as vacant. Left unchecked, vacant Troy homes and apartments can be a drag on the real estate market, holding Troy real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
In the last 10 years, Troy has experienced some of the highest home appreciation rates of any community in the nation. Troy real estate appreciated 135.28% over the last ten years, which is an average annual home appreciation rate of 8.93%, putting Troy in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Troy definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in Troy that despite a nationwide downturn in the housing market, Troy real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Troy appreciation rates continue to be some of the highest in America, at 8.02%, which is higher than appreciation rates in 70.41% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Troy. Troy appreciation rates in the latest quarter were at 1.46%, which equates to an annual appreciation rate of 5.96%.
Relative to North Carolina, our data show that Troy's latest annual appreciation rate is higher than 70% of the other cities and towns in North Carolina.
$247,420
for North carolina
for nation
1,035
$1,145 / per month