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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (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 a population of 26,679, 10,874 total housing units (homes and apartments), and a median house value of $296,389, 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 71.69% of the city's housing units. Other types of housing that are prevalent in Troy include large apartment complexes or high rise apartments ( 13.61%), duplexes, homes converted to apartments or other small apartment buildings ( 10.64%), and a few row houses and other attached homes ( 4.06%).

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 64.44% owning and 35.56% 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 ( 27.34%). A lesser amount of the housing stock also hails from between 2000 and later ( 22.15%). There's also some housing in Troy built before 1939 ( 16.26%).

Troy Home Appreciation Rates

In the last 10 years, Troy has experienced some of the highest home appreciation rates of any community in the nation. Troy real estate appreciated 113.51% over the last ten years, which is an average annual home appreciation rate of 7.88%, putting Troy in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Troy definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Troy that despite a nationwide downturn in the housing market, Troy real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Troy appreciation rates continue to be some of the highest in America, at 7.69%, which is higher than appreciation rates in 80.21% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Troy. Troy appreciation rates in the latest quarter were at -0.90%, which equates to an annual appreciation rate of -3.55%.

Notably, Troy's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Ohio, our data show that Troy's latest annual appreciation rate is higher than 90% 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

$296,389

Troy, OH Home Prices
> $1,424,000
$1,068,001 - $1,424,000
$712,001 - $1,068,000
$569,001 - $712,000
$427,001 - $569,000
$285,001 - $427,000
$143,001 - $285,000
$71,001 - $143,000
$0 - $71,000
0.0%
0.0%
1.0%
1.0%
2.6%
2.6%
3.7%
3.7%
15.7%
15.7%
23.0%
23.0%
42.7%
42.7%
8.8%
8.8%
2.5%
2.5%
0% 100.0%
% of Homes
High

for Ohio

Average

for nation

Number of Homes And Apartments:

10,874

Troy Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,281 / per month

Homeownership Rate

Owners
Renters
64.4%
64.4%
35.6%
35.6%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
5.7%
5.7%
94.3%
94.3%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
22.2%
22.2%
34.2%
34.2%
27.3%
27.3%
16.3%
16.3%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
71.7%
71.7%
4.1%
4.1%
10.6%
10.6%
13.6%
13.6%
0.0%
0.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.4%
2.4%
9.1%
9.1%
24.5%
24.5%
41.8%
41.8%
19.2%
19.2%
3.0%
3.0%
0% 100.0%
% of Homes