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ZIP Code · IL

ZIP 62294

Part of Troy, IL
Pop. 15,325·Madison County·180th most expensive ZIP in Illinois
Median rent (all units)
$1,425/mo
Year-over-Year
Stable
Month-over-Month
+8.5%
vs US Median
-$540
Rising (Monthly)
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Most AffordableMost Expensive
ZIP 62294 · $1,425
More affordable than 79% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$930
1 BR
$960
2 BR
$1,180
3 BR
$1,520
4 BR+
$1,760
Research median
$1,180/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
$17,100/yr
At $1,425/mo median
Location
CityTroy
StateIL
CountyMadison County
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 0.0% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+0.0% YoY, +8.5% MoM), not inventory.
Demographics

Who lives here

ZIP 62294 (Troy, IL) is majority owner-occupied, has a large share of families with children, has a median income above the national average, 47.1% of residents hold a bachelor's degree or higher.

Population
15,325
Median income
$120,466
Median age
36.4
Renters
20.9%
Age distribution
28.1%
19.5%
24.8%
13.9%
13.7%
Under 1828.1%
18–3419.5%
35–5424.8%
55–6413.9%
65+13.7%
Gender
48.3%
51.7%
Male48.3%
Female51.7%
Race & ethnicity
91.8%
White91.8%
Black1%
Hispanic2.7%
Asian0.5%
Other4%
Education (25+)
15.7%
35.1%
47.1%
No HS diploma2.2%
HS diploma15.7%
Some college35.1%
Bachelor's+47.1%
Housing tenure
79.1%
20.9%
Owner79.1%
Renter20.9%

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

2021 vs 2026

How ZIP 62294 in Troy, IL has changed in 5 years

Income
$89,471 → $120,466
up 34.6%
Population
14,827 → 15,325
up 3.4%
Renter share
22.8% → 20.9%
-1.9 pts
Bachelor's+
37.7% → 47.1%
+9.4 pts
Median age
39.4 → 36.4
-3.0 yrs

Household income in the area moved from $89,471 to $120,466 across the same window, up 34.6% versus 2021. Census counts show ZIP 62294 in Troy, IL adding about 498 residents over the five-year window, up 3.4% on net. The renter share has eased from 22.8% to 20.9%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 37.7% to 47.1% across the same window.

Community

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Local insights

Tips for renters in ZIP 62294

About renting in ZIP 62294

Last updated: July 20, 2026

ZIP code 62294 covers Troy, IL. The median rent here is $1,425/mo as of July 2026. A 1-bedroom rents for a median of $960/mo. A 2-bedroom rents for a median of $1,180/mo.

At 14% of local median household income ($120,466/yr), ZIP 62294 ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 62294?

As of July 20, 2026, the median monthly rent in ZIP 62294 (Troy, IL) is $1,425. This is based on aggregated data from public sources and community submissions.

How does ZIP 62294 rent compare to the US average?

ZIP 62294's median rent of $1,425/mo is $540 (27%) below the US national median of $1,965/mo.

How does ZIP 62294 compare to other ZIPs in Illinois?

ZIP 62294 is among the more affordable ZIP codes in Illinois, ranking #180 out of 230 ZIPs at $1,425/mo.

How much income do you need to rent in ZIP 62294?

To keep rent at or below 30% of gross income, you would need to earn at least $57,000/year (~$27/hour full-time) to afford the median rent of $1,425/mo in ZIP 62294. The local median household income is $120,466/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 62294?

Rent in ZIP 62294 has been relatively stable over the past year, with a 0.0% change year over year as of July 20, 2026.

Is ZIP 62294 an affordable place to rent?

ZIP 62294 is considered very affordable for renters. At $1,425/mo, rent takes approximately 14% of the local median household income ($120,466/yr). The standard benchmark is 30%. ZIP 62294 falls comfortably within that range.

What percentage of ZIP 62294 residents rent vs. own?

According to Census data, approximately 20.9% of ZIP 62294 households are renters, while 79.1% are owner-occupied. ZIP 62294 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 62294 compare to the rest of Troy?

ZIP 62294 sits right at the Troy citywide median of $1,425/mo.

When was rent data for ZIP 62294 last updated?

Rent data for ZIP 62294 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
14%
VERY AFFORDABLE

At $1,425/mo, rent takes ~14% of ZIP 62294's median household income ($120,466/yr). The standard benchmark is 30%.

ZIP 62294 14%Benchmark 30%
State income tax4.95%
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Schools nearby

Public schools near ZIP 62294 (Troy, IL)

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