Troy, OH Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Troy, OH Housing Market Trends

With 26,281 people, 10,475 houses or apartments, and a median cost of homes of $208,158, Troy real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Troy, accounting for 66.38% of the city's housing units. Other types of housing that are prevalent in Troy include duplexes, homes converted to apartments or other small apartment buildings ( 13.71%), large apartment complexes or high rise apartments ( 13.30%), and a few row houses and other attached homes ( 6.36%).

The most prevalent building size and type in Troy are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 58.48% owning and 41.52% renting.

There is a lot of housing in Troy built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Troy built between 1940-1969 ( 27.17%). A lesser amount of the housing stock also hails from between 2000 and later ( 18.26%). There's also some housing in Troy built before 1939 ( 17.46%).

Troy Home Appreciation Rates

Real estate appreciation rates in Troy's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 3.54% during the period.

NeighborhoodScout's data show that during the latest twelve months, Troy's appreciation rate, at 8.72%, has been at or slightly above the national average. In the latest quarter, Troy's appreciation rate has been 2.35%, which annualizes to a rate of 9.74%.

Relative to Ohio, our data show that Troy's latest annual appreciation rate is lower than 70% of the other cities and towns in Ohio.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Troy differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Troy - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Troy real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$208,158

Troy, OH HOME PRICES

> $1,251,000
0.0%
0.0%
$938,001 - $1,251,000
0.2%
0.2%
$625,001 - $938,000
1.4%
1.4%
$501,001 - $625,000
2.1%
2.1%
$375,001 - $501,000
5.7%
5.7%
$250,001 - $375,000
18.7%
18.7%
$125,001 - $250,000
45.7%
45.7%
$62,001 - $125,000
24.4%
24.4%
$0 - $62,000
1.7%
1.7%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

High for OH

Value Relative To Nation

Number Of Homes And Apartments:
10,475

Troy Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OH*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
40.61% 1.60%
5
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,113 / per month

Homeownership Rate

Owners
58.5%
58.5%
Renters
41.5%
41.5%
Vacant
7.5%
7.5%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
18.3%
18.3%
1970 - 1999
37.1%
37.1%
1940 - 1969
27.2%
27.2%
1939 or Older
17.5%
17.5%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
66.4%
66.4%
Townhomes
6.4%
6.4%
Small Apt. Buildings
13.7%
13.7%
Apt. Complexes
13.3%
13.3%
Mobile Homes
0.3%
0.3%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
2.9%
2.9%
1 Bedroom
11.2%
11.2%
2 Bedrooms
25.2%
25.2%
3 Bedrooms
43.1%
43.1%
4 Bedrooms
14.0%
14.0%
5 or more bedrooms
3.6%
3.6%
0.0% 100.0%
% OF HOMES