The typical owner-occupied home in Troy is worth about $300,500, 28% below the Idaho median of $418,600 and 10% below the national median of $332,700. Owners pay a median $1,860 a year in property taxes, about 0.62% of their home's value, higher than the Idaho rate of 0.49%. The median household earns $81,375 a year, so the median home costs 3.7 times the median income (5.4 times for Idaho). 83% of occupied homes here are lived in by their owners, and 66% of those owners still have a mortgage.
Troy at a glance
| Troy | Idaho | U.S. | |
|---|---|---|---|
| Median home value | $300,500 | $418,600 | $332,700 |
| Median property tax paid per year | $1,860 | $2,038 | $3,119 |
| Property tax as a share of value | 0.62% | 0.49% | 0.94% |
| Median household income | $81,375 | $77,800 | $80,734 |
| Homes lived in by their owners | 83% | 72% | 65% |
| Owner homes with a mortgage | 66% | 62% | 61% |
| Median monthly costs, owners with a mortgage | $1,464 | $1,687 | $1,963 |
| Those costs as a share of the owners' income | 19.4% | 20.7% | 21.0% |
| Median rent | $993 | $1,238 | $1,413 |
| Rent as a share of renters' income | 25.5% | 28.7% | 30.6% |
| Median year homes were built | 1972 | 1991 | 1980 |
| Vacant homes | 3.2% | 10.3% | 10.1% |
| Population | 960 | 1,934,262 | 334,922,499 |
What a typical home costs per month in Troy
At this week's average 30-year rate of 7.11%, buying the median Troy home of $300,500 with 20% down costs about $1,898 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,398, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $81,328 for the 20%-down payment. That payment is 28% of the median Troy household income of $81,375; at that income and 20% down, the 28% guideline points to a home of about $301,000.
The median rent here is $993 a month, so owning the median home costs about $905 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $60,100 |
|---|---|
| Loan amount | $240,400 |
| Principal and interest | $1,617 |
| Property taxes (0.62% a year) | $155 |
| Homeowners insurance (our estimate, 0.5% a year) | $125 |
| PMI | $0 |
| Total per month | $1,898 |
Change the numbers in the calculator
| Down payment | $10,518 |
|---|---|
| Loan amount | $295,057 |
| Principal and interest | $1,985 |
| Property taxes (0.62% a year) | $155 |
| Homeowners insurance (our estimate, 0.5% a year) | $125 |
| FHA mortgage insurance | $133 |
| Total per month | $2,398 |
Change the numbers in the calculator
Questions about home buying in Troy
What is the median home value in Troy?
About $300,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Troy?
Homeowners pay a median $1,860 a year, which is about 0.62% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Troy?
For the median home with 20% down at 7.11%, the payment is about $1,898 a month. Keeping that under 28% of gross income takes about $81,328 a year.
More about Troy
- Mortgage Refinance in Troy
- Debt Relief in Troy
- Home Equity Loans in Troy
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data