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City Report · OH

Troy

Pop. 26,842·62nd most expensive in Ohio·Troy rents are up 15.3% over the past year
Median rent (all units)
$1,511/mo
Year-over-Year
+15.3%
Month-over-Month
Stable
vs US Median
-$454
Stable (Monthly)
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Most AffordableMost Expensive
Troy · $1,511
More affordable than 75% of US cities · National median $1,965/mo
Rent Reality Score
36/100
Overpriced
OverheatedFairGreat value

Rents are 7% above what Troy's 10-year trend predicts — running hotter than its own history.

Actual rent
$1,511/mo
Expected by trend
$1,413/mo
The Rent Reality Score compares today's median rent to where Troy's own long-run trajectory projects it should be. See the full rankings →
Medians by bedroom

Rent by unit size

Studio
$730
1 BR
$790
2 BR
$1,010
3 BR
$1,300
4 BR+
$1,440
Research median
$1,010/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$18,132/yr
At $1,511/mo median
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 15.3% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+15.3% YoY, -0.1% MoM), not inventory.
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Demographics

Who lives here

Troy, OH is majority owner-occupied, has a large share of families with children, 33.2% of residents hold a bachelor's degree or higher.

Population
26,842
Median income
$68,830
Median age
37.8
Renters
34.5%
Age distribution
25.7%
19.6%
26.2%
16.6%
Under 1825.7%
18–3419.6%
35–5426.2%
55–6412%
65+16.6%
Gender
49.8%
50.2%
Male49.8%
Female50.2%
Race & ethnicity
83.9%
White83.9%
Black3.4%
Hispanic2.9%
Asian4%
Other5.8%
Education (25+)
32.5%
27.2%
33.2%
No HS diploma7.1%
HS diploma32.5%
Some college27.2%
Bachelor's+33.2%
Housing tenure
65.5%
34.5%
Owner65.5%
Renter34.5%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2022 vs 2026

How Troy, OH has changed in 5 years

Rent
$1,145 → $1,511
up 32.0%
Income
$65,563 → $68,830
up 5.0%
Population
26,093 → 26,842
up 2.9%
Renter share
35.6% → 34.5%
-1.1 pts
Bachelor's+
30.3% → 33.2%
+2.9 pts

Across the past five years, the going rent in Troy, OH has shifted from $1,145 to $1,511, up 32.0% since 2022. Census figures show median household income at $68,830 today, compared with $65,563 five years earlier. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. Census counts show Troy, OH adding about 749 residents over the five-year window, up 2.9% on net. Bachelor's-degree-or-higher attainment moved from 30.3% to 33.2% across the same window. The combined trend lines point to a market that has changed measurably from where it stood in early 2022.

Community

Discussions about Troy

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View Troy rent history (2015–2026) →
Salary vs rent

Can you afford rent in Troy on your salary?

At $1,511/mo, how Troy rent compares to typical pay (30% rule).

By apartment size

Troy rent by bedroom count

Median rent for each apartment size in Troy. Click any size for full breakdown.

Local insights

Tips for renters in Troy

About renting in Troy, OH

Last updated: July 20, 2026

The median rent in Troy is $1,511/mo as of July 2026. A studio apartment averages $730/mo while a 2-bedroom runs $1,010/mo. One-bedroom apartments average $790/mo and 3-bedroom units go for $1,300/mo.

At 26% of local median household income ($68,830/yr), Troy ranks as affordable compared to the national benchmark of 30%. Rents have increased 15.3% over the past year.

FAQ

Frequently asked questions

Is Troy an affordable city for renters?

Troy is considered affordable for renters. At $1,511/mo, rent takes approximately 26% of the local median household income ($68,830/yr). The standard benchmark is 30%. Troy falls comfortably within that range.

How much income do you need to rent in Troy?

To keep rent at or below 30% of gross income, you would need to earn at least $60,000/year (~$29/hour full-time) to afford the median rent of $1,511/mo in Troy. The local median household income is $68,830/yr, meaning the typical Troy household meets that threshold.

Is rent going up or down in Troy?

Rent in Troy has increased 15.3% over the past year as of July 2026, putting upward pressure on renter budgets.

How does Troy rent compare to other cities in Ohio?

Troy is middle-of-the-pack for Ohio for rent, ranking #62 out of 128 tracked cities at $1,511/mo.

Which nearby cities are cheaper to rent in than Troy?

Several nearby cities have lower median rents than Troy ($1,511/mo): Piqua ($1,087/mo), Shiloh ($1,130/mo), Vandalia ($1,168/mo).

What percentage of Troy residents rent vs. own?

According to Census data, approximately 34.5% of Troy households are renters, while 65.5% are owner-occupied. Troy leans toward homeownership, which can mean a smaller rental inventory.

How does Troy rent compare to the national average?

Troy's median rent of $1,511/mo is $454 (23%) below the US national median of $1,965/mo. Within Ohio, it ranks #62 out of 128 tracked cities.
Income Affordability
26%
AFFORDABLE

At $1,511/mo, rent takes ~26% of Troy's median household income ($68,830/yr). The standard benchmark is 30%.

Troy 26%Benchmark 30%
State income tax2.75–3.5%
Run the Troy affordability calculator →
Lowest-rent ZIP codes in Troy
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Troy, OH

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