Cost of Living in Troy, OH

With a cost of living index of 77, Troy, OH is a very affordable place to live. Living here is 23% cheaper than the national average and in line with the Ohio state average. With a population of 26,716, Troy is a mid-sized community that balances access to services with a more manageable cost of living compared to larger metros.

Housing costs are the biggest factor in Troy's cost of living. The median monthly rent is $934 (29% below the US median of $1,319), and the median home value sits at $199,400 (35% below the national median of $304,900). At current prices, the median home costs roughly 2.8x the median household income — well within traditional affordability guidelines.

The median household income in Troy is $70,450, which is 6% lower than the national median of $75,149. Residents spend roughly 16% 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.

Everyday prices in the Dayton-Kettering-Beavercreek, OH (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 6 are priced lower than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

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.