Cost of Living in Troy, MT

With a cost of living index of 65, Troy, MT is one of the most affordable cities in the country. Living here is 35% cheaper than the national average and 24% below the Montana state average of 89. Troy is a small community of 906 residents.

Housing costs are the biggest factor in Troy's cost of living. The median monthly rent is $573 (57% below the US median of $1,319), and the median home value sits at $182,100 (40% below the national median of $304,900). At current prices, the median home costs roughly 5x the median household income — a stretch for many buyers, though not uncommon in today's market.

The median household income in Troy is $36,641, which is 51% lower than the national median of $75,149. Residents spend roughly 19% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Climate is another factor for anyone considering a move to Troy. The area sees an average annual temperature of 38.6°F, with summers averaging 57°F and winters around 23°F. Annual rainfall totals 45.1 inches spread over roughly 170 days. Cold winters mean higher heating bills, an important cost-of-living consideration.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.