At $941/mo, rent takes about 22% of the local median household income, comfortably within the 30% benchmark.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $941 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: September 25, 2026
What the numbers show
30% of the median household income ($50,717) is $1,268 a month. That covers HUD's Fair Market Rent for up to a 3-bedroom ($1,210); a 4-bedroom is $1,330.
From Zillow's monthly rent index (ZORI) for Troy. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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Who lives here
Troy, AL is roughly split between renters and owners, skews toward younger working-age adults, has a median income below the national average, 39.7% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Troy, AL has changed in 5 years
Census figures show median household income at $50,717 today, compared with $36,409 five years earlier.
Discussions about Troy
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Can you afford rent in Troy on your salary?
At $941/mo, how Troy rent compares to typical pay (30% rule).
Troy rent by bedroom count
Median rent for each apartment size in Troy. Click any size for full breakdown.
Tips for renters in Troy
Last updated: September 25, 2026
The median rent in Troy is $941/mo as of September 2026. A studio apartment averages $750/mo while a 2-bedroom runs $1,000/mo. One-bedroom apartments average $770/mo and 3-bedroom units go for $1,210/mo.
At 22% of local median household income ($50,717/yr), Troy ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.
Frequently asked questions
How much income do you need to rent in Troy?
Is rent going up or down in Troy?
How does Troy rent compare to other cities in Alabama?
At $941/mo, rent takes ~22% of Troy's median household income ($50,717/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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