States › Missouri › Troy

Is Troy, MO expensive to live in?

CheapRent takes 15 cents of every $1 people earn here.
🏠 Rent per month (2026)$1,08438% lower than U.S. average
💵 Families earn per year (2026)$85,214about $7,101/month · 2% lower than U.S. average
🔑 House price$226,50032% lower than U.S. average

Rent is lower than in 83% of U.S. cities. 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 $43,360 a year. That is $21 an hour at a full-time job.

Is rent cheaper than other Missouri cities?

Yes. Rent here is cheaper than in most of Missouri. It is number 46 of 142 cities from cheapest to most expensive.

Troy
$1,084
Marshall
$1,336
Moberly
$998
Dardenne Prairie
$1,597
Neosho
$1,181
Webb City
$1,125
Festus
$1,020

How much do households earn in Troy?

Under $25k
14.9%
$25k–50k
20.7%
$50k–100k
39.3%
$100k–150k
14.4%
$150k+
5.6%

Share of households by yearly income. 20.1% of households earn $100,000 or more.

Rent by apartment size in Troy

SizeTroyU.S. average
1 bedroom$501$1,324
2 bedrooms$922$1,509
3 bedrooms$1,705$1,698

Median monthly rent plus utilities for all renters, by number of bedrooms.

How expensive is Troy overall?

Everyday prices in Missouri overall are 9% below the U.S. average (index 90.8, U.S. = 100).

Housing
70
Goods (food, clothes…)
96
Utilities
79
Other services
95
U.S. average
100

Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Troy, so the Missouri figure is shown.

Taxes and bills in Troy

🏛️ Property tax$1,676a year · 0.74% of home value · U.S. $3,119
⚡ Electric bill$189a month (typical) · U.S. $156

Life in Troy

Commute to work29 minU.S.: 26.4 min
College degree14.7%U.S.: 35.7%
Own their home69.9%U.S.: 65.2%
Below poverty line13.6%U.S.: 12.5%
Unemployment2.3%U.S.: 5.2%

Is it cheaper to rent or buy in Troy?

Renting is cheaper right now: about $488 a month less.

Renting
$1,084
Owning
$1,572

Owning assumes a typical $226,500 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $22,650 for the down payment.

Frequently asked questions

What is the average rent in Troy, MO?

Renting in Troy costs a median of about $1,084 a month in 2026, including utilities. The Missouri median is $1,285.

How much do I need to make to live in Troy?

To keep rent under 30% of income, you need about $43,360 a year, or $21 an hour at a full-time job.

Is Troy cheap or expensive?

Troy is rated Cheap: rent takes 15.3% of the typical household income of $85,214. It ranks 46th cheapest of 142 Missouri cities we track.

How much are property taxes in Troy?

The median homeowner in Troy pays $1,676 a year in property taxes, about 0.74% of the median home value.

Is Troy more expensive than the national average?

Overall prices in Missouri are 9% below 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 $226,500, about 2.7 times the typical yearly household income.

13,947 people live in Troy. Numbers are typical (middle) values.