salaryRent is lower than in 74% of U.S. cities. That makes it a rare mix of above-average pay and below-average rent. A typical house costs under 3 years of household income, which is easy by U.S. standards.
How much money do I need?
To rent here comfortably, you should earn about $49,360 a year. That is $24 an hour at a full-time job.
Is rent cheaper than other Illinois cities?
Yes. Rent here is cheaper than in most of Illinois. It is number 103 of 334 cities from cheapest to most expensive.
How much do households earn in Troy?
Share of households by yearly income. 43.2% of households earn $100,000 or more.
Rent by apartment size in Troy
| Size | Troy | U.S. average |
|---|---|---|
| 1 bedroom | $928 | $1,324 |
| 2 bedrooms | $1,273 | $1,509 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Troy overall?
Everyday prices in Illinois overall are same as the U.S. average (index 100.0, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Troy, so the Illinois figure is shown.
Taxes and bills in Troy
Life in Troy
Is it cheaper to rent or buy in Troy?
Renting is cheaper right now: about $626 a month less.
Owning assumes a typical $268,000 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $26,800 for the down payment.
Frequently asked questions
What is the average rent in Troy, IL?
Renting in Troy costs a median of about $1,234 a month in 2026, including utilities. The Illinois median is $1,517.
How much do I need to make to live in Troy?
To keep rent under 30% of income, you need about $49,360 a year, or $24 an hour at a full-time job.
Is Troy cheap or expensive?
Troy is rated Cheap: rent takes 12.2% of the typical household income of $121,260. It ranks 103rd cheapest of 334 Illinois cities we track.
How much are property taxes in Troy?
The median homeowner in Troy pays $5,446 a year in property taxes, about 2.03% of the median home value.
Is Troy more expensive than the national average?
Overall prices in Illinois are same as the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in Troy?
The median home value in Troy is $268,000, about 2.2 times the typical yearly household income.
11,647 people live in Troy. Numbers are typical (middle) values.