Troy, VA—22974
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Troy, VA
As of Oct '25, the median home price in Troy, VA is $436,000, with a year-over-year change of 2.3%. This indicates that home prices in Troy, VA are increasing. According to Zillow, the 1-year price projection is 1.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $436,000 | 2.3% |
| Single Family | $436,000 | 2.1% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $265,000 | -1.5% |
3 Bed | $401,000 | 1.5% |
4 Bed | $540,000 | 4.2% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Troy, VA
As of July '25, Rentcast reports the average rent in Troy, VA is $1,380, with a year-over-year rent change of -58.8%. Per bedroom, the median rent as of July '25 in Troy, VA is 1-bedrooms: $1,120, 2-bedrooms: $1,640. The most common rental property sizes in Troy, VA are 2-bedroom and 3-bedroom, accounting for 61.4% and 20.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,120 | $1,380 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,120 | $1,120 |
| 2 Bed Rent | $1,640 | $1,640 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Troy, VA
As of Oct '25, Realtor.com reports that the median days on market for a home in Troy, VA is 122. This is a increase of 7.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 26.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $575,000 | -6.0% |
Listing Count | 31 | 82.0% |
| Listings as % of Homes | 1.0% | 82.0% |
Days on Market | 122 | 7.0% |
Demographics — Troy, VA
As of the latest ACS Survey released in 2023, Troy, VA has a population of 5,120, which has decreased by -8.5% over the past 5 years. Troy, VA is a moderately popular place for families, as children make up 16.2% of the population. The area has a moderately educated workforce, with 25.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 5,120 | -8.5% |
% Under 18 | 16.2% | -17.3% |
% Seniors | 18.3% | 59.1% |
% WFH | 10.0% | 316.7% |
% w/ College Degree | 25.6% | -5.9% |
As of the latest ACS Survey released in 2023, Troy, VA is a predominantly white area, with 73.2% of the population identifying as white. The white population has shrunk by 5.8% in the last 5 years. The second most common race or ethnicity in Troy, VA is black, making up 13.6% of the population. Foreign-born residents account for 2.2% of the population in Troy, VA, and this percentage has decreased by 18.5% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 73.2% | -5.8% |
% Black | 13.6% | -6.8% |
% Hispanic | 4.1% | -14.6% |
% Asian | 0.8% | 166.7% |
% Foreign Born | 2.2% | -18.5% |
Mortgage and Risk — Troy, VA
According to HUD data as of 2023, there were 133 mortgage originations in Troy, VA, of which 77.0% of loans were conventional mortgages. The average loan-to-value was 68.0%, with 38.0% above 90% LTV (very high). This implies large mortgage risk in Troy, VA. Investor activity is low, as 2.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 133 |
% Conventional Loans | 77.0% |
% Government Loans | 23.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Troy, VA
Troy, VA lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 5 |
Total Units Section 8 | 5 |
% Rentals under Section 8 | 2.8% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $340 | $1,120 | $1,460 |
| 2 Bedroom | $50 | $1,640 | $1,690 |
| 3 Bedroom | N/A | N/A | $2,140 |
| 4 Bedroom | N/A | N/A | $2,570 |
Affordability — Troy, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.5 |
| Median Home Price | $436,000 |
| Median Household Income | $109,000 |