At $1,317/mo, rent takes about 14% 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 $1,317 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: August 17, 2026
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Who lives here
Troy, IL is majority owner-occupied, has a large share of families with children, has a median income above the national average, 45.2% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Troy, IL has changed in 5 years
On the earnings side, the typical household in Troy, IL now reports about $112,434, up from $80,677 in 2021. The population has grown by 7.3% since 2021, moving from about 10,858 residents to roughly 11,647. Renters now make up 26.4% of households, compared with 29.6% five years ago. College-educated residents now make up 45.2% of adults here, versus 31.8% in 2021.
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Can you afford rent in Troy on your salary?
At $1,317/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: August 17, 2026
The median rent in Troy is $1,317/mo as of August 2026. A studio apartment averages $910/mo while a 2-bedroom runs $1,160/mo. One-bedroom apartments average $940/mo and 3-bedroom units go for $1,500/mo.
At 14% of local median household income ($112,434/yr), Troy ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.
Frequently asked questions
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Is rent going up or down in Troy?
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How does Troy rent compare to the national average?
At $1,317/mo, rent takes ~14% of Troy's median household income ($112,434/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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