Troy, TN—38260
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Troy, TN
As of Oct '25, the median home price in Troy, TN is $166,000, with a year-over-year change of 4.5%. This indicates that home prices in Troy, TN are increasing. According to Zillow, the 1-year price projection is 1.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $166,000 | 4.5% |
| Single Family | $165,000 | 5.1% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | N/A | N/A |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Troy, TN
Troy, TN lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | N/A | N/A |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Troy, TN
As of Oct '25, Realtor.com reports that the median days on market for a home in Troy, TN is 52. This is a decrease of -30.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 25.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $215,000 | -6.0% |
Listing Count | 16 | 0.0% |
| Listings as % of Homes | 0.8% | 0.0% |
Days on Market | 52 | -30.0% |
Demographics — Troy, TN
As of the latest ACS Survey released in 2023, Troy, TN has a population of 3,850, which has increased by 5.2% over the past 5 years. Troy, TN is a moderately popular place for families, as children make up 19.4% of the population. The area has a poorly educated workforce, with 15.8% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 2.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 3,850 | 5.2% |
% Under 18 | 19.4% | -1.5% |
% Seniors | 23.8% | 31.5% |
% WFH | 2.5% | 56.2% |
% w/ College Degree | 15.8% | 12.1% |
As of the latest ACS Survey released in 2023, Troy, TN is a predominantly white area, with 94.8% of the population identifying as white. The white population has shrunk by 2.3% in the last 5 years. The second most common race or ethnicity in Troy, TN is black, making up 2.4% of the population. Foreign-born residents account for 0.2% of the population in Troy, TN, and this percentage has decreased by 75.0% 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 | 94.8% | -2.3% |
% Black | 2.4% | 242.9% |
% Hispanic | 0.5% | -68.8% |
% Asian | 0.0% | -100.0% |
% Foreign Born | 0.2% | -75.0% |
Mortgage and Risk — Troy, TN
According to HUD data as of 2023, there were 82 mortgage originations in Troy, TN, of which 63.0% of loans were conventional mortgages. The average loan-to-value was 70.0%, with 35.0% above 90% LTV (very high). This implies large mortgage risk in Troy, TN. Investor activity is low, as 5.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 82 |
% Conventional Loans | 63.0% |
% Government Loans | 37.0% |
% Investor Loans | 5.0% |
% Second Loans | 4.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Troy, TN
Troy, TN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 11 |
Total Units Section 8 | 0 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $740 |
| 2 Bedroom | N/A | N/A | $900 |
| 3 Bedroom | N/A | N/A | $1,170 |
| 4 Bedroom | N/A | N/A | $1,190 |
Affordability — Troy, TN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3 |
| Median Home Price | $166,000 |
| Median Household Income | $49,300 |