The typical owner-occupied home in Troy is worth about $108,100, 50% below the Kansas median of $217,200 and 68% below the national median of $332,700. Owners pay a median $1,262 a year in property taxes, about 1.17% of their home's value, lower than the Kansas rate of 1.29%. The median household earns $52,232 a year, so the median home costs 2.1 times the median income (2.9 times for Kansas). 77% of occupied homes here are lived in by their owners, and 47% of those owners still have a mortgage.
Troy at a glance
| Troy | Kansas | U.S. | |
|---|---|---|---|
| Median home value | $108,100 | $217,200 | $332,700 |
| Median property tax paid per year | $1,262 | $2,798 | $3,119 |
| Property tax as a share of value | 1.17% | 1.29% | 0.94% |
| Median household income | $52,232 | $74,275 | $80,734 |
| Homes lived in by their owners | 77% | 67% | 65% |
| Owner homes with a mortgage | 47% | 57% | 61% |
| Median monthly costs, owners with a mortgage | $1,112 | $1,689 | $1,963 |
| Those costs as a share of the owners' income | 16.6% | 19.4% | 21.0% |
| Median rent | $752 | $1,060 | $1,413 |
| Rent as a share of renters' income | 27.3% | 27.1% | 30.6% |
| Median year homes were built | 1946 | 1976 | 1980 |
| Vacant homes | 9.3% | 9.2% | 10.1% |
| Population | 824 | 2,947,197 | 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 $108,100 with 20% down costs about $732 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $912, 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 $31,380 for the 20%-down payment. That payment is 17% of the median Troy household income of $52,232; at that income and 20% down, the 28% guideline points to a home of about $180,000.
The median rent here is $752 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $21,620 |
|---|---|
| Loan amount | $86,480 |
| Principal and interest | $582 |
| Property taxes (1.17% a year) | $105 |
| Homeowners insurance (our estimate, 0.5% a year) | $45 |
| PMI | $0 |
| Total per month | $732 |
Change the numbers in the calculator
| Down payment | $3,784 |
|---|---|
| Loan amount | $106,142 |
| Principal and interest | $714 |
| Property taxes (1.17% a year) | $105 |
| Homeowners insurance (our estimate, 0.5% a year) | $45 |
| FHA mortgage insurance | $48 |
| Total per month | $912 |
Change the numbers in the calculator
Questions about home buying in Troy
What is the median home value in Troy?
About $108,100 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 $1,262 a year, which is about 1.17% 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 $732 a month. Keeping that under 28% of gross income takes about $31,380 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