Troy, IL 62294 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Troy, IL—62294

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$333,000

6.5% YoY Growth

Household Income

$108,000

30.7% YoY Growth

Days on Market

6.0% Shorter YoY

Home Price Forecast

0.8%

Median Rent

$1,900

21.9% YoY Growth

1-Bed Rent

$800

0.0% YoY Growth

2-Bed Rent

$1,100

8.3% YoY Growth

3-Bed Rent

$1,900

14.1% YoY Growth

Home Price Trends — Troy, IL

As of May '26, the median home price in Troy, IL is $333,000, with a year-over-year change of 6.5%. 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	$333,000	6.5%
Single Family	$333,000	6.1%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

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

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% of Rental Stock

Studio

1.0%

1 Bedroom

10.2%

2 Bedrooms

73.0%

3 Bedrooms

4.4%

4 Bedrooms

9.9%

5+ Bedrooms

1.5%

Property Listings — Troy, IL

As of May '26, Realtor.com reports that the median days on market for a home in Troy, IL is 49. This is a decrease of -6.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$432,000	-5.0%
Listing Count	40	-5.0%
Listings as % of Homes	0.6%	-5.0%
Days on Market	49	-6.0%

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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%

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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%

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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

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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

Troy, IL—62294

Key Metrics at a Glance

Home Price Trends — Troy, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Troy, IL

% of Rental Stock

Property Listings — Troy, IL

Demographics — Troy, IL

Race and Ethnicity

Mortgage and Risk — Troy, IL

Mortgages

Rentals and Section 8 — Troy, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — Troy, IL

Home Price to Income Ratio

Troy, IL — ZIP Code Boundary Map

Nearby ZIP Codes

Saint Jacob, IL

Maryville, IL

Lebanon, IL

Glen Carbon, IL

Collinsville, IL

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	2.6
Median Home Price	$333,000
Median Household Income	$108,000

Troy, IL—62294

Key Metrics at a Glance

Home Price Trends — Troy, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Troy, IL

% of Rental Stock

Property Listings — Troy, IL

Demographics — Troy, IL

Race and Ethnicity

Mortgage and Risk — Troy, IL

Mortgages

Rentals and Section 8 — Troy, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — Troy, IL

Home Price to Income Ratio

Troy, IL — ZIP Code Boundary Map

Nearby ZIP Codes

Saint Jacob, IL

Maryville, IL

Lebanon, IL

Glen Carbon, IL

Collinsville, IL

Frequently Asked Questions

What is the average home price in Troy, IL 62294?

How have home prices in Troy, IL 62294 changed over the past year?

What is the home price projection for Troy, IL 62294?

What are the demographics of Troy, IL 62294?

How long does it take homes to sell in Troy, IL 62294?

What is the average rent price in Troy, IL 62294?