Troy, VA 22974 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Troy, VA—22974

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$437,000

2.1% YoY Growth

Household Income

$109,000

27.6% YoY Growth

Days on Market

159

10.0% Longer YoY

Home Price Forecast

1.7%

Median Rent

$1,120

58.8% YoY Growth

1-Bed Rent

$1,120

N/A

2-Bed Rent

$1,640

N/A

3-Bed Rent

N/A

Home Price Trends — Troy, VA

As of Nov '25, the median home price in Troy, VA is $437,000, with a year-over-year change of 2.1%. This indicates that home prices in Troy, VA are increasing. According to Zillow, the 1-year price projection is 1.7%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$437,000	2.1%
Single Family	$436,000	1.6%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

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

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% of Rental Stock

2 Bedrooms

61.4%

3 Bedrooms

20.0%

4 Bedrooms

18.6%

Property Listings — Troy, VA

As of Nov '25, Realtor.com reports that the median days on market for a home in Troy, VA is 159. This is a increase of 10.0% 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 15.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$582,000	-4.0%
Listing Count	26	51.0%
Listings as % of Homes	1.0%	51.0%
Days on Market	159	10.0%

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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%

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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%

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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%

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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

Troy, VA—22974

Key Metrics at a Glance

Home Price Trends — Troy, VA

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Troy, VA

% of Rental Stock

Property Listings — Troy, VA

Demographics — Troy, VA

Race and Ethnicity

Mortgage and Risk — Troy, VA

Mortgages

Rentals and Section 8 — Troy, VA

Section 8 Market Size

Section 8 Opportunity

Affordability — Troy, VA

Home Price to Income Ratio

Troy, VA — ZIP Code Boundary Map

Nearby ZIP Codes

Keswick, VA

Palmyra, VA

Gordonsville, VA

Columbia, VA

Charlottesville, VA

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	3.5
Median Home Price	$437,000
Median Household Income	$109,000

Troy, VA—22974

Key Metrics at a Glance

Home Price Trends — Troy, VA

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Troy, VA

% of Rental Stock

Property Listings — Troy, VA

Demographics — Troy, VA

Race and Ethnicity

Mortgage and Risk — Troy, VA

Mortgages

Rentals and Section 8 — Troy, VA

Section 8 Market Size

Section 8 Opportunity

Affordability — Troy, VA

Home Price to Income Ratio

Troy, VA — ZIP Code Boundary Map

Nearby ZIP Codes

Keswick, VA

Palmyra, VA

Gordonsville, VA

Columbia, VA

Charlottesville, VA

Frequently Asked Questions

What is the average home price in Troy, VA 22974?

How have home prices in Troy, VA 22974 changed over the past year?

What is the home price projection for Troy, VA 22974?

What are the demographics of Troy, VA 22974?

How long does it take homes to sell in Troy, VA 22974?

What is the average rent price in Troy, VA 22974?