Troy, IL—62294
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Troy, IL
As of Oct '25, the median home price in Troy, IL is $316,000, with a year-over-year change of 6.0%. This indicates that home prices in Troy, IL are increasing. According to Zillow, the 1-year price projection is 0.8%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $316,000 | 6.0% |
| Single Family | $317,000 | 6.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $417,000 | 4.5% |
2 Bed | $195,000 | 5.4% |
3 Bed | $278,000 | 6.1% |
4 Bed | $355,000 | 5.3% |
| 5 Bed | $423,000 | 5.5% |
% of Housing Stock
Rental Trends — Troy, IL
As of July '25, Rentcast reports the average rent in Troy, IL is $1,840, with a year-over-year rent change of 21.9%. Per bedroom, the median rent as of July '25 in Troy, IL is 1-bedrooms: $800, 2-bedrooms: $1,100, 3-bedrooms: $2,100. The most common rental property sizes in Troy, IL are 2-bedroom and 1-bedroom, accounting for 73.0% and 10.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,900 | $1,840 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $800 | $800 |
| 2 Bed Rent | $1,100 | $1,100 |
| 3 Bed Rent | $1,900 | $2,100 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Troy, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Troy, IL is 36. This is a decrease of -10.0% 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 24.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $440,000 | 20.0% |
Listing Count | 58 | -2.0% |
| Listings as % of Homes | 0.6% | -2.0% |
Days on Market | 36 | -10.0% |
Demographics — Troy, IL
As of the latest ACS Survey released in 2023, Troy, IL has a population of 15,200, which has increased by 8.0% over the past 5 years. Troy, IL is a popular place for families, as children make up 27.4% of the population. The area has a highly educated workforce, with 47.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 15,200 | 8.0% |
% Under 18 | 27.4% | 7.9% |
% Seniors | 13.5% | 32.4% |
% WFH | 11.2% | 119.6% |
% w/ College Degree | 47.4% | 40.7% |
As of the latest ACS Survey released in 2023, Troy, IL is a predominantly white area, with 92.8% of the population identifying as white. The white population has grown by 2.3% in the last 5 years. The second most common race or ethnicity in Troy, IL is hispanic, making up 2.7% of the population. Foreign-born residents account for 1.8% of the population in Troy, IL, and this percentage has decreased by 28.0% 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 | 92.8% | 2.3% |
% Black | 1.2% | -42.9% |
% Hispanic | 2.7% | -27.0% |
% Asian | 0.6% | -62.5% |
% Foreign Born | 1.8% | -28.0% |
Mortgage and Risk — Troy, IL
Troy, IL lacks sufficient mortgage origination data for analysis.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | N/A |
% Conventional Loans | N/A |
% Government Loans | N/A |
% Investor Loans | N/A |
% Second Loans | N/A |
% Cash Out Refinance | N/A |
Loan Activity
No data available
Rentals and Section 8 — Troy, IL
Troy, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 7 |
Total Units Section 8 | 7 |
% Rentals under Section 8 | 0.6% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $140 | $800 | $940 |
| 2 Bedroom | $60 | $1,100 | $1,160 |
| 3 Bedroom | -$400 | $1,900 | $1,500 |
| 4 Bedroom | N/A | N/A | $1,720 |
Affordability — Troy, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.5 |
| Median Home Price | $316,000 |
| Median Household Income | $108,000 |