Troy, IL
Population 10,889 · Illinois
About Troy, IL
Troy is a mid-sized city located in Illinois with a population of 10,889 residents according to the latest US Census Bureau American Community Survey data. The median household income is $97,825 per year, which is 30% above the national median of $75,149. The median age of 35.8 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in Troy features a median home value of $240,800, which is 2% below the national median of $244,900. This positions Troy in a moderately priced market relative to the rest of the country. Median monthly rent is $1,060, 9% below the national average of $1,163/month. Of the 4,591 total housing units, 68% are owner-occupied (2,867 units) and 32% are renter-occupied (1,379 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Troy shows an unemployment rate of 2.4%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 1.6%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Troy have an average one-way commute time of 24.9 minutes.
Education & Demographics
45.5% of Troy residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This significantly higher educational attainment rate often correlates with access to knowledge-economy jobs and higher household incomes. The community's demographic composition includes 2.9% White, 0.6% Hispanic or Latino, 0.0% Black or African American, and 0.5% Asian residents, with 2.1% of the population being foreign-born.
Cost of Living in Troy, IL
Compared to national averages, Troy has a median household income of $97,825 (30% above the national median of $75,149). Home values average $240,800, which is 2% below the national median. Monthly rent at $1,060 is 9% below the US average of $1,163. Within Illinois, Troy's income is 30% above the state average of $75,072, and home values are 45% above the state median of $165,779.
Why Live in Troy, IL?
Troy offers a strong local economy with a median household income of $97,825, well above the national average, and affordable housing with a median home value of $240,800, below the US average of $244,900, and rent that’s lower than the national average at $1,060/month. Additionally, the city features a strong job market with an unemployment rate of just 2.4%, and a well-educated community where 45.5% of residents hold a bachelor’s degree or higher, and a low poverty rate of 1.6%, better than the national average, and short commute times averaging just 24.9 minutes.
Troy has a population of 10,889 with a median age of 35.8 years. Compare Troy with other cities to see how it stacks up, or explore all cities in Illinois.
Similar Cities Near Troy
Cities in Illinois with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Summit | 10,896 | $60,417 | $224,800 | Compare |
| Roscoe | 10,881 | $97,704 | $215,200 | Compare |
| Fox Lake | 10,872 | $69,896 | $219,300 | Compare |
| Worth | 10,731 | $56,998 | $220,200 | Compare |
| Barrington | 11,049 | $150,714 | $580,900 | Compare |
| Campton Hills | 10,724 | $192,727 | $510,100 | Compare |
| Waterloo | 11,055 | $92,005 | $237,900 | Compare |
| Columbia | 11,063 | $107,922 | $290,100 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Illinois
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Troy With Other Cities
Frequently Asked Questions about Troy
What is the population of Troy, IL?
The population of Troy, IL is 10,889 according to the latest US Census Bureau American Community Survey estimates. This makes it a mid-sized city in Illinois.
What is the median household income in Troy?
The median household income in Troy, IL is $97,825 per year, which is 30% above the national median of $75,149.
What is the median home value in Troy?
The median home value in Troy, IL is $240,800, which is 2% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Troy?
The median monthly rent in Troy, IL is $1,060, which is 9% below the national average of $1,163/month.
What is the unemployment rate in Troy?
The unemployment rate in Troy, IL is 2.4%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Troy, IL a good place to live?
Troy offers above-average incomes, affordable housing, and a strong job market. With a population of 10,889 and a median age of 35.8, the city appeals to a broad range of residents.
How educated is Troy, IL?
45.5% of residents in Troy aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Troy?
Key cost-of-living indicators for Troy, IL: median home value is $240,800 (2% below national), median rent is $1,060/month, and median household income is $97,825. The home-value-to-income ratio is 2.5x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Troy?
The poverty rate in Troy, IL is 1.6%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Troy, IL?
Troy's population is 2.9% White, 0.6% Hispanic or Latino, 0.0% Black or African American, 0.5% Asian, and 1.7% two or more races. 2.1% of residents are foreign-born.