The typical owner-occupied home in Troy is worth about $155,900, 39% below the Pennsylvania median of $254,500 and 53% below the national median of $332,700. Owners pay a median $2,080 a year in property taxes, about 1.33% of their home's value, close to the Pennsylvania rate of 1.30%. The median household earns $51,016 a year, so the median home costs 3.1 times the median income (3.3 times for Pennsylvania). 61% of occupied homes here are lived in by their owners, and 65% of those owners still have a mortgage.
Troy at a glance
| Troy | Pennsylvania | U.S. | |
|---|---|---|---|
| Median home value | $155,900 | $254,500 | $332,700 |
| Median property tax paid per year | $2,080 | $3,311 | $3,119 |
| Property tax as a share of value | 1.33% | 1.30% | 0.94% |
| Median household income | $51,016 | $77,971 | $80,734 |
| Homes lived in by their owners | 61% | 69% | 65% |
| Owner homes with a mortgage | 65% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,127 | $1,762 | $1,963 |
| Those costs as a share of the owners' income | 19.2% | 19.4% | 21.0% |
| Median rent | $603 | $1,209 | $1,413 |
| Rent as a share of renters' income | 28.9% | 29.2% | 30.6% |
| Median year homes were built | 1953 | 1965 | 1980 |
| Vacant homes | 9.9% | 9.2% | 10.1% |
| Population | 1,408 | 13,018,639 | 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 $155,900 with 20% down costs about $1,077 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,336, 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 $46,146 for the 20%-down payment. That payment is 25% of the median Troy household income of $51,016; at that income and 20% down, the 28% guideline points to a home of about $172,000.
The median rent here is $603 a month, so owning the median home costs about $474 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $31,180 |
|---|---|
| Loan amount | $124,720 |
| Principal and interest | $839 |
| Property taxes (1.33% a year) | $173 |
| Homeowners insurance (our estimate, 0.5% a year) | $65 |
| PMI | $0 |
| Total per month | $1,077 |
Change the numbers in the calculator
| Down payment | $5,456 |
|---|---|
| Loan amount | $153,076 |
| Principal and interest | $1,030 |
| Property taxes (1.33% a year) | $173 |
| Homeowners insurance (our estimate, 0.5% a year) | $65 |
| FHA mortgage insurance | $69 |
| Total per month | $1,336 |
Change the numbers in the calculator
Questions about home buying in Troy
What is the median home value in Troy?
About $155,900 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 $2,080 a year, which is about 1.33% 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 $1,077 a month. Keeping that under 28% of gross income takes about $46,146 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