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City · 5,179 residents · Morris County, New Jersey

Troy Hills , New Jersey

In Troy Hills, a typical home is worth $650,500 and typical rent is $3,108 a month. Compared with all of Morris County, typical rent is 63% higher, typical household income is 34% higher, and the share of households that own their home is 18 points higher.

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  • Typical home value

    $650,500

    12% above the county

    43% above New Jersey

    • Troy Hills
    • Morris
    • New Jersey

  • Typical rent

    $3,108a month

    63% above the county

    81% above New Jersey

    • Troy Hills
    • Morris
    • New Jersey

  • Typical household income

    $183,707a year

    34% above the county

    77% above New Jersey

    • Troy Hills
    • Morris
    • New Jersey

  • Households that own their home

    93%

    18 points above the county

    29 points above New Jersey

    • Troy Hills
    • Morris
    • New Jersey

Source: U.S. Census Bureau, Average 2020–2024

Troy Hills is in Morris County. The FHA loan limit ($1,249,125 for a one-unit home), the fair market rents and the help on this page are those of all of Morris County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Troy Hills apart

What this place has that others do not, from public data, most unusual first.

  1. The typical rent in Troy Hills is $3,108 a month, 63% more than in Morris County as a whole ($1,904).

  2. Nearby, in Lake Hiawatha, the typical rent is $1,550: 50% less than in Troy Hills ($3,108).

  3. 93% of households in Troy Hills own their home, against 74% in Morris County.

  4. Nearby, in Lake Hiawatha, the typical home value is $428,600: 34% less than in Troy Hills ($650,500).

  5. The typical household income in Troy Hills is $183,707, 34% more than in Morris County as a whole ($137,326).

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Troy Hills

What homes there are in Troy Hills, 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

In Troy Hills, 8 in 10 homes are single-family detached houses; in Morris County, 7.

Year built

There is more room for a big family here: 92% of homes have 3 bedrooms or more, against 65% in Morris County.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes
Monthly rent with utilities

With a mortgage

$3,432 a month

Morris County: $3,295 a month

Owners with a mortgage

55%

Morris County: 65%

The typical cost for an owner with a mortgage in Troy Hills is $3,432 a month, near the figure in Morris County ($3,295).

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

Troy Hills does not have the same boundaries as in 2015–2019: that is why there is no change to compare. For reference, in Morris County the typical home value rose 28%.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureTroy HillsMorris CountyNew JerseyUnited States
Rental vacancy Unreliable estimate3.3%3.5%5.5%
Homeowner vacancy Unreliable estimate0.5%0.7%0.9%
More than one person per room Unreliable estimate1.7%4.0%3.4%
People per household 3.062.622.622.53
Drive alone 61%66%62%69%
Carpool Unreliable estimate6%8%9%
Public transit Unreliable estimate3%8%3%
Walk or bike Unreliable estimate2%3%3%
Work from home 23%22%17%15%
Other means Unreliable estimate1%2%2%
Typical commute Unreliable estimate20 to 29 minutes20 to 29 minutes20 to 29 minutes

More people live in each home here: 3.06 on average, against 2.62 in Morris County.

To get to work, 61% of workers in Troy Hills drive alone; in Morris County, 66%.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Troy Hills?

A typical home costs more than the typical income allows

We start with a typical home in Troy Hills, worth $650,500, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 37% of the typical household income in Troy Hills, which is $183,707 a year. For that payment to be 28% of income, a household would need to earn about $245,162 a year.

The calculator's FHA and conventional loan limits are those of all of Morris County.

Your numbers

Local data
$

Starts at the typical home value in Troy Hills. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $22,768 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$5,721

at 7.18% · 30 years

Loan amount
$638,717
Total interest
$918,964
Paid off in
November 2056

Includes $10,985 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $4,286 a month

  • Tight

    $4,286 to $5,511 a month

  • Hard

    more than $5,511 a month

    Your payment · 37%

Compared with the typical household income in Troy Hills ($183,707 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$5,721
Principal & interest$4,327
Property tax$835
Home insurance$271
FHA mortgage insurance (MIP)$288

You need at least $22,768 for the down payment, plus closing costs.

Next step

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.

The city and its county

Troy Hills and Morris County

Troy Hills is in Morris County, New Jersey. 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 Hills's own numbers

Typical home value
$650,500
Typical monthly rent
$3,108
Typical yearly household income
$183,707
Households that own their home
93%
Effective property tax rate
1.54%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Morris County

FHA limit, one-unit home
$1,249,125
Conventional limit, one unit
$1,209,750
HUD fair market rent, 2 bedrooms
$2,233
Price change over 5 years (FHFA)
+53%

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 Morris County.

Everything about Morris County

Buying

Buying a home in Troy Hills

A typical home in Troy Hills is worth $650,500: 12% above the county and 43% above New Jersey. With the typical household income in Troy Hills ($183,707 a year), a typical home costs 3.5 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.

  • Troy Hills 3.5 years
  • Morris 4.2 years
  • New Jersey 4.4 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Morris County

According to FHFA’s house price index, home prices in Morris County rose 68% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Morris County.

Period County New Jersey U.S.
Last year (2025) +5.9% +6.2% +2.9%
5 years (2020–2025) +53% +63% +47%
10 years (2015–2025) +68% +88% +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 Hills next to Morris County, New Jersey and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Troy Hills $650,500
  • Morris $582,500
  • New Jersey $454,400
  • United States $332,700
Typical monthly rent
  • Troy Hills $3,108
  • Morris $1,904
  • New Jersey $1,720
  • United States $1,413
Typical yearly household income
  • Troy Hills $183,707
  • Morris $137,326
  • New Jersey $103,556
  • United States $80,734
See the full table
Troy Hills next to Morris County and New Jersey
Measure Troy Hills Morris County New Jersey U.S.
Typical home value $650,500 $582,500 $454,400 $332,700
Typical monthly rent $3,108 $1,904 $1,720 $1,413
Typical yearly household income $183,707 $137,326 $103,556 $80,734
Households that own their home 93% 74% 64% 65%
Typical yearly property tax $10,001 $10,001 $9,590 $3,119
Effective property tax rate 1.54% 1.72% 2.11% 0.94%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Morris 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 Hills

For a typical $650,500 home in Troy Hills, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Troy Hills's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $5,720a month

    Least cash to close
    Down payment
    $22,768
    Cash to close
    $42,283
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $288

  • Conventional, 5% down $5,601a month

    Down payment
    $32,525
    Cash to close
    $52,040
    Rate
    7.18%
    Mortgage insurance
    PMI · $309

  • Conventional, 20% down, no PMI $4,631a month

    Down payment
    $130,100
    Cash to close
    $149,615
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $5,233a month

    Down payment
    $97,575
    Cash to close
    $117,090
    Rate
    8.18%
    Mortgage insurance
    None

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.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Troy Hills and for Morris County.

Property tax

Effective rate in Troy Hills

1.54%of the home’s value each year

$10,001 a year for the typical owner in Troy Hills.

  • Troy Hills 1.54%
  • Morris 1.72%
  • New Jersey 2.11%

What New Jersey publishes ANCHOR, Senior Freeze and Stay NJ: one combined application (New Jersey Division of Taxation)

Exemptions and deadlines in New Jersey

Flood risk in Morris County

FEMA does not publish these numbers by city: they are for all of Morris County.

FEMA’s maps count no homes in the high-risk zone in Morris County. That does not mean it cannot flood: check your address.

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Troy Hills

Typical rent in Troy Hills is $3,108 a month: 63% above the county.

HUD publishes a fair market rent for all of Morris County, by unit size. To pay the 2-bedroom one ($2,233 a month) without spending more than 30% of your income, you would need to earn $42.94 an hour working full time.

HUD fair market rent for all of Morris County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $1,637 $31.48 $65,480
1 bedroom $1,850 $35.58 $74,000
2 bedrooms $2,233 $42.94 $89,320
3 bedrooms $2,785 $53.56 $111,400
4 bedrooms $3,188 $61.31 $127,520

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 Hills

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Troy Hills is in ZIP code 07054.

For 2 bedrooms it is $2,640: $407 more than the fair market rent for Morris County ($2,233).

  • 07054 $2,640$3,290

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 Hills 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 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Free help

Help to buy or rent in Troy Hills

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 Morris County; none says it serves in Spanish.

Two women and a girl laugh together at the bus stop.

HUD counseling is free or low-cost

Assistance programs in Troy Hills

No down payment, repair or rent-help program on our list is for Troy Hills or Morris County. The ones below are statewide in New Jersey: they work in Troy Hills the same as in the rest of the state.

Which programs do I qualify for? All programs in New Jersey

Housing counselors near Troy Hills

The HUD-approved agencies closest to the center of Troy Hills, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Credit.org - New Jersey Branch

    101 Eisenhower Pkwy, Roseland · 5 miles away · Spanish

    Also serves in other languages.

    • Mortgage delinquency and default
    • Budget and credit workshops
    • and 4 more
    (800) 431-8157

  • Housing Partnership for Morris County

    2 E Blackwell St Ste 12, Dover · 9 miles away

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 7 more
    (973) 659-9222

  • Consumer Credit and Budget Counseling, DBA National Foundation for Debt Management

    26 Park St Ste 2000, Montclair · 10 miles away · Spanish

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 7 more
    (727) 755-8558

Every agency in Morris County All counseling agencies in New Jersey

Help in Spanish near Troy Hills

2 of the 3 agencies on this list say they serve in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Troy Hills

HUD’s record names them for Troy Hills or Morris County. They run public housing or Section 8 vouchers. Ask whether their waiting list is open.

  • Morris County Housing Authority Public housing and Section 8 vouchers (973) 540-0389

4 other authorities have an office in Morris County: see the list Source: HUD

Cities

Other cities in Morris County

These cities are also in Morris County. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Morris County Housing in New Jersey
See 14 more cities in Morris County, with prices and rents

Every city has its own page with prices, rents and help.

Nearby cities

The cities closest to Troy Hills, with the typical home value.

Neighboring counties

If Morris County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Troy Hills.

All guides
A father and mother walk their son by the hand down the sidewalk.

Questions

Housing questions about Troy Hills

Short answers with the numbers for Troy Hills and all of Morris 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 Hills?

The typical home value in Troy Hills is $650,500, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Morris County it is $582,500.

How much does it cost to rent in Troy Hills?

Typical rent in Troy Hills is $3,108 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Morris County is $2,233.

What is the FHA loan limit in Troy Hills?

Troy Hills uses the FHA limit for all of Morris County (2026): $1,249,125 for a one-unit home and $2,402,625 for a four-unit home.

How much property tax do owners pay in Troy Hills?

The typical homeowner in Troy Hills pays $10,001 a year, according to the U.S. Census Bureau. That is 1.54% of the home’s value; in Morris County, the rate is 1.72%.

Where can I find free help to buy or rent in Troy Hills?

There is 1 HUD-approved counseling agency with an office in Morris County. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).