Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 13,951, 4,873 total housing units (homes and apartments), and a median house value of $213,154, house prices in Troy are solidly below the national average.
Single-family detached homes are the single most common housing type in Troy, accounting for 83.42% of the city's housing units. Other types of housing that are prevalent in Troy include duplexes, homes converted to apartments or other small apartment buildings ( 7.02%), large apartment complexes or high rise apartments ( 5.86%), and a few row houses and other attached homes ( 3.22%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Troy. Owner-occupied housing accounts for 67.91% of Troy's homes, and 70.68% have either three or four bedrooms, which is average sized relative to America.
Troy homes and real estate are some of the newest in America. 45.08% of Troy's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Troy real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 37.59%), and between 1940-1969 ( 9.84%). There's also some housing in Troy built before 1939 ( 7.49%).
Appreciation rates for homes in Troy have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 86.89%, which ranks in the top 50% nationwide. This equates to an annual average Troy house appreciation rate of 6.45%.
Appreciation rates are so strong in Troy that despite a nationwide downturn in the housing market, Troy real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Troy appreciation rates continue to be some of the highest in America, at 6.65%, which is higher than appreciation rates in 70.06% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Troy. Troy appreciation rates in the latest quarter were at -0.41%, which equates to an annual appreciation rate of -1.64%.
Relative to Missouri, our data show that Troy's latest annual appreciation rate is lower than 60% of the other cities and towns in Missouri.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Troy differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Troy - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Troy real estate investment or home purchase decisions.
$213,154
for Missouri
for nation
4,873
$1,177 / per month