Troy, OH—45373
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Troy, OH
Troy, OH lacks sufficient home price data for analysis.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $275,000 | 5.3% |
| Single Family | $277,000 | 5.3% |
| Condos | $223,000 | 2.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $121,000 | 2.5% |
2 Bed | $179,000 | 5.9% |
3 Bed | $263,000 | 5.6% |
4 Bed | $394,000 | 5.1% |
| 5 Bed | $529,951 | 3.7% |
% of Housing Stock
Rental Trends — Troy, OH
As of July '25, Rentcast reports the average rent in Troy, OH is $1,210, with a year-over-year rent change of -4.7%. Per bedroom, the median rent as of July '25 in Troy, OH is studios: $725, 1-bedrooms: $825, 2-bedrooms: $1,220, 3-bedrooms: $1,540, 4-bedrooms: $1,520. The most common rental property sizes in Troy, OH are 2-bedroom and 1-bedroom, accounting for 48.4% and 21.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,200 | $1,210 |
| Studio Rent | $725 | $725 |
| 1 Bed Rent | $750 | $825 |
| 2 Bed Rent | $1,180 | $1,220 |
| 3 Bed Rent | $1,550 | $1,540 |
| 4 Bed Rent | $1,520 | $1,520 |
% of Rental Stock
Property Listings — Troy, OH
As of Nov '25, Realtor.com reports that the median days on market for a home in Troy, OH is 54. This is a increase of 1.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 27.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $307,000 | -1.0% |
Listing Count | 105 | 7.0% |
| Listings as % of Homes | 0.5% | 7.0% |
Days on Market | 54 | 1.0% |
Demographics — Troy, OH
As of the latest ACS Survey released in 2023, Troy, OH has a population of 37,300, which has increased by 3.6% over the past 5 years. Troy, OH is a moderately popular place for families, as children make up 24.8% of the population. The area has a moderately educated workforce, with 33.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 37,300 | 3.6% |
% Under 18 | 24.8% | 2.5% |
% Seniors | 17.4% | 5.5% |
% WFH | 9.7% | 259.3% |
% w/ College Degree | 33.3% | 14.8% |
As of the latest ACS Survey released in 2023, Troy, OH is a predominantly white area, with 86.5% of the population identifying as white. The white population has shrunk by 2.5% in the last 5 years. The second most common race or ethnicity in Troy, OH is hispanic, making up 3.5% of the population. Foreign-born residents account for 4.2% of the population in Troy, OH, and this percentage has increased by 35.5% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 86.5% | -2.5% |
% Black | 2.7% | -25.0% |
% Hispanic | 3.5% | 25.0% |
% Asian | 2.8% | 7.7% |
% Foreign Born | 4.2% | 35.5% |
Mortgage and Risk — Troy, OH
According to HUD data as of 2023, there were 876 mortgage originations in Troy, OH, of which 81.0% of loans were conventional mortgages. The average loan-to-value was 60.0%, with 25.0% above 90% LTV (very high). This implies large mortgage risk in Troy, OH. Investor activity is low, as 4.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 876 |
% Conventional Loans | 81.0% |
% Government Loans | 19.0% |
% Investor Loans | 4.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 11.0% |
Rentals and Section 8 — Troy, OH
As of 2024, the percent of homes in Troy, OH under the Section 8 program is 16.2%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom units appear to be good home sizes to consider for Section 8 housing in Troy, OH, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 759 |
Total Units Section 8 | 672 |
% Rentals under Section 8 | 16.2% |
% Occupied Section 8 | 89.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $40 | $750 | $790 |
| 2 Bedroom | -$170 | $1,180 | $1,010 |
| 3 Bedroom | -$250 | $1,550 | $1,300 |
| 4 Bedroom | -$80 | $1,520 | $1,440 |
Affordability — Troy, OH
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3 |
| Median Home Price | $275,000 |
| Median Household Income | $78,300 |