Troy, OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Troy, OH Real Estate Data

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Troy Housing Market Information

With a population of 25,659, 10,502 total housing units (homes and apartments), and a median house value of $175,988, Troy real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Troy, accounting for 65.55% 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 ( 15.44%), large apartment complexes or high rise apartments ( 14.06%), and a few row houses and other attached homes ( 4.47%).

The most prevalent building size and type in Troy are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 58.49% owning and 41.51% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Troy's housing was primarily built during this period, from the '40s through the '60s. A full 33.43% of the city's housing hails from this era. Other housing ages represented in Troy include homes built between 1970-1999 ( 31.97%) and housing constructed before 1939 ( 18.47%). There's also some housing in Troy built between 2000 and later ( 16.14%).

Troy Home Appreciation Rates

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 1.47%, which ranks in the top 50% nationwide. This equates to an annual average Troy house appreciation rate of 0.15%.

NeighborhoodScout's data show that during the latest twelve months, Troy's appreciation rate, at 4.58%, has been at or slightly above the national average. In the latest quarter, Troy's appreciation rate has been -0.27%, which annualizes to a rate of -1.08%.

Relative to Ohio, our data show that Troy's latest annual appreciation rate is higher than 70% of the other cities and towns in Ohio.

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.

Average Home Values

 

Median Home Value:
$175,988

Troy, OH HOME PRICES

Value Range
> $1,093,000 0.2
$819,001 - $1,093,000 0.2
$546,001 - $819,000 0.9
$437,001 - $546,000 1.6
$328,001 - $437,000 5.1
$218,001 - $328,000 15.5
$109,001 - $218,000 48.8
$55,001 - $109,000 25.9
$0 - $55,000 1.8

High for OH
High for Nation

Value Relative to Nation Value Relative to State
39.5933434899801 23.3595800524934

Number Of Homes And Apartments:
10,502

Troy Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OH*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
10.61% 0.59% 6 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$894 / per month

Homeownership Rate

Homeownership
Owners 58.49
Renters 41.51
Vacant 8.00

Housing Market Details

 

Age of Homes

AGE OF Troy HOMES
2000 or Newer 16.1
1970 - 1999 32.0
1940 - 1969 33.4
1939 or Older 18.5

Types of Homes

TYPE OF Troy HOMES
Single-Family 65.6
Townhomes 4.5
Small Apt. Buildings 15.4
Apt. Complexes 14.1
Mobile Homes 0.5
Other 0.0

Home Size

SIZE OF Troy HOMES
No Bedroom 3.41
1 Bedroom 9.62
2 Bedrooms 28.46
3 Bedrooms 42.51
4 Bedrooms 13.49
5 or more bedrooms 2.51