City · 11,647 residents · Madison County, Illinois
Troy, Illinois
In Troy, a typical home is worth $268,000 and typical rent is $1,116 a month. Compared with all of Madison County, the typical home value is 55% higher and typical household income is 48% higher.
Typical home value from Zillow, September 2021 to September 2026: from $251,689 to $331,728.
From Zillow (ZHVI), September 2026. The Census figures above are 5-year averages (2020–2024).
Troy is in Madison County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Madison County. See the county
What this place has that others do not, from public data, most unusual first.
1
Troy has the 3rd smallest share of rent-burdened renters of the 291 cities in Illinois with more than 5,000 people (27%).
2
The typical home in Troy is worth $268,000,55% more than in Madison County as a whole ($173,000).
3
Nearby, in Pontoon Beach, the typical home value is $145,100: 46% less than in Troy ($268,000).
4
The typical household income in Troy is $112,434,48% more than in Madison County as a whole ($75,793).
Sources: U.S. Census Bureau (Average 2020–2024).
The homes here
Housing in Troy
What homes there are in Troy, what they cost, how that changed and how people live, from Census figures (2020–2024).
What homes there are
U.S. Census Bureau, ACS 5-year, 2020–2024
Kind of home
Detached houseAttached houseBuilding of 2 to 4Apartments (5 or more)Mobile homeBoat, RV and otherUnreliable estimate
Troy
Madison County
Illinois
United States
Kind of home: Troy and its comparisons
Measure
Troy
Madison County
Illinois
United States
Detached house
73%
79%
58%
61%
Attached house
Unreliable estimate
3%
6%
6%
Building of 2 to 4
12%
8%
12%
8%
Apartments (5 or more)
Unreliable estimate
8%
22%
19%
Mobile home
Unreliable estimate
2%
2%
6%
Boat, RV and other
Unreliable estimate
Unreliable estimate
0%
0%
The detached house is still the most common home in Troy, but it weighs less than in Madison County: 73% against 79%.
Year built
Before 19601960–19791980–19992000–20092010 or later
Troy
Madison County
Illinois
United States
Year built: Troy and its comparisons
Measure
Troy
Madison County
Illinois
United States
Before 1960
11%
36%
38%
26%
1960–1979
20%
25%
26%
24%
1980–1999
33%
20%
20%
25%
2000–2009
19%
12%
11%
14%
2010 or later
18%
7%
6%
11%
The typical home in Troy was built in 1993, 22 years after the typical one in Madison County.
What it costs here
U.S. Census Bureau, ACS 5-year, 2020–2024
Value of owner-occupied homes
Unreliable estimate
Under $100KUnreliable
$100K–$200K18%
$200K–$300K40%
$300K–$500K32%
$500K–$750KUnreliable
$750K–$1MUnreliable
$1M or moreUnreliable
Value of owner-occupied homes: Troy and its comparisons
Measure
Troy
Under $100K
Unreliable estimate
$100K–$200K
18%
$200K–$300K
40%
$300K–$500K
32%
$500K–$750K
Unreliable estimate
$750K–$1M
Unreliable estimate
$1M or more
Unreliable estimate
Monthly rent with utilities
Unreliable estimate
Under $500Unreliable
$500–$99938%
$1,000–$1,49956%
$1,500–$1,999Unreliable
$2,000–$2,499Unreliable
$2,500–$2,999Unreliable
$3,000 or moreUnreliable
Monthly rent with utilities: Troy and its comparisons
Measure
Troy
Under $500
Unreliable estimate
$500–$999
38%
$1,000–$1,499
56%
$1,500–$1,999
Unreliable estimate
$2,000–$2,499
Unreliable
$2,500–$2,999
Unreliable
$3,000 or more
Unreliable
With a mortgage
$1,919 a month
Madison County: $1,511 a month
Without a mortgage
$776 a month
Madison County: $653 a month
Owners with a mortgage
71%
Madison County: 60%
Owning costs more in Troy: with a mortgage, the typical cost is $1,919 a month; in Madison County, $1,511. Without one, $776.
How it changed
U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024
Change since 2015–2019
Typical home value
Troy+50%
Madison County+28%
Illinois+35%
United States+53%
Typical rent
Troy+36%
Madison County+24%
Illinois+26%
United States+33%
Typical household income
Troy+58%
Madison County+25%
Illinois+27%
United States+29%
Change since 2015–2019: Troy and its comparisons
Measure
Troy
Madison County
Illinois
United States
Typical home value
+50%
+28%
+35%
+53%
Typical rent
+36%
+24%
+26%
+33%
Typical household income
+58%
+25%
+27%
+29%
The typical home value in Troy rose 50% since 2015–2019, more than in Madison County (28%).
Since 2015–2019, the typical rent in Troy rose 36%, more than in Madison County (24%).
The typical household income in Troy rose 58%: more than home values (+50%) and rent (+36%).
How people live
U.S. Census Bureau, ACS 5-year, 2020–2024
How people live: Troy and its comparisons
Measure
Troy
Madison County
Illinois
United States
Rental vacancy
Unreliable estimate
4.1%
5.0%
5.5%
Homeowner vacancy
Unreliable estimate
1.0%
1.0%
0.9%
More than one person per room
Unreliable estimate
1.0%
2.5%
3.4%
People per household
2.65
2.35
2.46
2.53
Drive alone
81%
78%
66%
69%
Carpool
Unreliable estimate
7%
8%
9%
Public transit
Unreliable estimate
1%
6%
3%
Walk or bike
Unreliable estimate
1%
3%
3%
Work from home
12%
13%
16%
15%
Other means
Unreliable estimate
1%
1%
2%
Typical commute
Unreliable estimate
20 to 29 minutes
20 to 29 minutes
20 to 29 minutes
More people live in each home here: 2.65 on average, against 2.35 in Madison County.
In Troy, 81% of workers drive alone to work; in Madison County, 78%.
Do the math
What would you pay each month for a home in Troy?
A typical home is within reach of the typical income
We start with a typical home in Troy, worth $268,000, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 26% of the typical household income in Troy, which is $112,434 a year.
The calculator's FHA and conventional loan limits are those of all of Madison County.
Change the price, the down payment or the loan: the payment updates right away.
Your numbers
Local data
$
Starts at the typical home value in Troy. Change it to the price you have in mind.
Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.
Down payment
%
That is $9,380 (3.5% of the price). The usual minimum for this loan is 3.5%.
This week's average ± a quarter or half point.
National average as of November 5, 2026 (Freddie Mac); your rate may be different.
Adjust advanced details⌄
Estimated monthly payment
Local data
$2,466
at 7.18% · 30 years
Loan amount
$263,146
Total interest
$378,605
Paid off in
November 2056
Includes $4,526 FHA upfront mortgage insurance premium.
Does it fit the income?
Comfortable
up to $2,623 a month
Your payment · 26%
Tight
$2,623 to $3,373 a month
Hard
more than $3,373 a month
Compared with the typical household income in Troy ($112,434 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.
Monthly payment breakdown
Principal & interest
$1,783
Property tax
$453
Home insurance
$112
FHA mortgage insurance (MIP)
$119
You need at least $9,380 for the down payment, plus closing costs.
This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.
Total monthly payment $2,466; principal and interest $1,783.
The city and its county
Troy and Madison County
Troy is in Madison County, Illinois. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).
Troy
Map of Madison County, Illinois, with Troy marked. Around it, the neighboring counties.
Troy
Madison County
Other cities with a page
Troy's own numbers
Typical home value
$268,000
Typical monthly rent
$1,116
Typical yearly household income
$112,434
Households that own their home
74%
Effective property tax rate
2.03%
U.S. Census Bureau, American Community Survey (average 2020–2024).
Numbers for all of Madison County
FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,349
Price change over 5 years (FHFA)
+47%
HUD, FHFA and FEMA don't publish these numbers by city.
Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Madison County.
A typical home in Troy is worth $268,000: 55% above the county and about the same as Illinois. With the typical household income in Troy ($112,434 a year), a typical home costs 2.4 times what the household earns in a year.
Years of income to pay for a typical home
The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.
Troy2.4 years
Madison2.3 years
Illinois3.2 years
United States4.1 years
Source: U.S. Census Bureau, Average 2020–2024
How prices have changed in Madison County
According to FHFA’s house price index, home prices in Madison County rose 66% in the 10 years through 2025.
FHFA does not publish this index by city: these are the numbers for all of Madison County.
Yearly change in FHFA’s price index in Madison County, 2016 to 2025
2016: +2.1% +2.1% 2016
2017: +2.3% +2.3% 2017
2018: +2.9% +2.9% 2018
2019: +2.8% +2.8% 2019
2020: +2.2% +2.2% 2020
2021: +7.4% +7.4% 2021
2022: +11.8% +11.8% 2022
2023: +8.2% +8.2% 2023
2024: +6.0% +6.0% 2024
2025: +6.7% +6.7% 2025
Change in FHFA’s price index in Madison County, Illinois and the United States
Period
County
Illinois
U.S.
Last year (2025)
+6.7%
+5.7%
+2.9%
5 years (2020–2025)
+47%
+47%
+47%
10 years (2015–2025)
+66%
+65%
+85%
The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data
Troy next to Madison County, Illinois and the U.S.
Three numbers side by side. “Typical” means the median: half are above it and half below.
Typical home value
Troy$268,000
Madison$173,000
Illinois$263,300
United States$332,700
Typical monthly rent
Troy$1,116
Madison$1,024
Illinois$1,274
United States$1,413
Typical yearly household income
Troy$112,434
Madison$75,793
Illinois$83,390
United States$80,734
See the full table
Troy next to Madison County and Illinois
Measure
Troy
Madison County
Illinois
U.S.
Typical home value
$268,000 ▲55% above the county
$173,000
$263,300
$332,700
Typical monthly rent
$1,116 ▲9% above the county
$1,024
$1,274
$1,413
Typical yearly household income
$112,434 ▲48% above the county
$75,793
$83,390
$80,734
Households that own their home
74% ▼1 points below the county
74%
67%
65%
Typical yearly property tax
$5,446 ▲64% above the county
$3,319
$5,298
$3,119
Effective property tax rate
2.03% ▲0.11 points above the county
1.92%
2.01%
0.94%
Renters with high rent for their income
27% ▼20 points below the county
47%
48%
51%
“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Madison County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.
Four ways to pay for a typical home in Troy
For a typical $268,000 home in Troy, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Troy's typical property tax, an example home insurance and mortgage insurance when it applies.
FHA, 3.5% down$2,466a month
Least cash to close
Down payment
$9,380
Cash to close
$17,420
Rate
7.18%
Mortgage insurance
FHA MIP · $119
Conventional, 5% down$2,417a month
Down payment
$13,400
Cash to close
$21,440
Rate
7.18%
Mortgage insurance
PMI · $127
Conventional, 20% down, no PMI$2,017a month
Down payment
$53,600
Cash to close
$61,640
Rate
7.18%
Mortgage insurance
None
ITIN, 15% down (example)$2,265a month
Down payment
$40,200
Cash to close
$48,240
Rate
8.18%
Mortgage insurance
None
Four ways to pay for a typical home in Troy
Loan
Monthly payment
Down payment
Loan amount
Rate
Mortgage insurance
Cash to close
Minimum score
FHA, 3.5% down Least cash to close
$2,466
$9,380
$263,146
7.18%
FHA MIP · $119
$17,420
580
Conventional, 5% down
$2,417
$13,400
$254,600
7.18%
PMI · $127
$21,440
620*
Conventional, 20% down, no PMI
$2,017
$53,600
$214,400
7.18%
None
$61,640
620*
ITIN, 15% down (example)
$2,265
$40,200
$227,800
8.18%
None
$48,240
Set by the lender
The option that asks for the least cash to close is FHA, 3.5% down.
Cash to close = down payment plus 3% of the price in closing costs (example).
Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.
Typical rent in Troy is $1,116 a month: 9% above the county. In Troy, 27% of renter households pay 30% or more of their income in rent.
HUD publishes a fair market rent for all of Madison County, by unit size. To pay the 2-bedroom one ($1,349 a month) without spending more than 30% of your income, you would need to earn $25.94 an hour working full time.
What you need to earn to pay it without spending more than 30% of income, working full time.
HUD fair market rent in Madison County (Fiscal year 2027)
Size
Fair rent a month
Hourly wage
Yearly income
Studio
$1,064
$20.46
$42,560
1 bedroom
$1,104
$21.23
$44,160
2 bedrooms
$1,349
$25.94
$53,960
3 bedrooms
$1,731
$33.29
$69,240
4 bedrooms
$1,997
$38.40
$79,880
Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027
By ZIP code
Fair market rent by ZIP code in Troy
HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Troy is in ZIP code 62294.
For 2 bedrooms it is $1,350: $1 more than the fair market rent for Madison County ($1,349).
Fair market rent by ZIP code and size in Troy, fiscal year 2027.
ZIP code
Studio
1 bd
2 bd
3 bd
4 bd
62294
$1,060
$1,100
$1,350
$1,730
$2,000
ZIP code2 bd3 bd
62294 $1,350$1,730
1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Troy when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD)Fiscal year 2027Small Area Fair Market Rents (HUD) (external site)Source: Census Bureau ZCTA-to-place relationship fileData from 2020 dataCensus Bureau ZCTA-to-place relationship file (external site)
You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.
There is 1 HUD-approved agency with an office in Madison County; none says it serves in Spanish.
No down payment, repair or rent-help program on our list is for Troy or Madison County. The ones below are statewide in Illinois: they work in Troy the same as in the rest of the state.
IHDA second loan with no payments until you sell or refinance, for the down payment in Illinois.Offered by Illinois Housing Development Authority (IHDA).
No legal help resource on our list is for Troy or Madison County in particular.
If you have a problem with your landlord, an eviction notice or a scam, the Legal Services Corporation (LSC) search shows the free legal aid offices that serve your area.
Short answers with the numbers for Troy and all of Madison County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.
How much does a typical home cost in Troy?
The typical home value in Troy is $268,000, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Madison County it is $173,000.
How much does it cost to rent in Troy?
Typical rent in Troy is $1,116 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Madison County is $1,349.
What is the FHA loan limit in Troy?
Troy uses the FHA limit for all of Madison County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.
How much property tax do owners pay in Troy?
The typical homeowner in Troy pays $5,446 a year, according to the U.S. Census Bureau. That is 2.03% of the home’s value; in Madison County, the rate is 1.92%.
Where can I find free help to buy or rent in Troy?
There is 1 HUD-approved counseling agency with an office in Madison County. They can help you get ready to buy, with your credit, or with rent.
