Troy, IN
Population 539 · Indiana
About Troy, IN
Troy is a small community located in Indiana with a population of 539 residents according to the latest US Census Bureau American Community Survey data. The median household income is $50,000 per year, which is 33% below the national median of $75,149. The median age of 32.6 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 $95,600, which is 61% below the national median of $244,900. This makes Troy one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $906, 22% below the national average of $1,163/month. Of the 211 total housing units, 81% are owner-occupied (158 units) and 19% are renter-occupied (38 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Troy shows an unemployment rate of 5.2%, which is near the national rate of 3.7%. The poverty rate stands at 8.0%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Troy have an average one-way commute time of 19.9 minutes, one of the shorter commutes in the region.
Education & Demographics
15.4% of Troy residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 1.3% White, 3.3% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 0.0% of the population being foreign-born.
Cost of Living in Troy, IN
Compared to national averages, Troy has a median household income of $50,000 (33% below the national median of $75,149). Home values average $95,600, which is 61% below the national median. Monthly rent at $906 is 22% below the US average of $1,163. Within Indiana, Troy's income is 28% below the state average of $69,330, and home values are 41% below the state median of $163,409.
Why Live in Troy, IN?
Troy offers affordable housing with a median home value of $95,600, below the US average of $244,900, and rent that’s lower than the national average at $906/month, and a low poverty rate of 8.0%, better than the national average. Additionally, the city features short commute times averaging just 19.9 minutes.
Potential considerations include median household income ($50,000) that falls below the national average. However, Troy’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Troy has a population of 539 with a median age of 32.6 years. Compare Troy with other cities to see how it stacks up, or explore all cities in Indiana.
Similar Cities Near Troy
Cities in Indiana with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Rosedale | 540 | $57,188 | $100,600 | Compare |
| Belleville | 536 | $71,484 | $219,200 | Compare |
| Etna Green | 535 | $64,342 | $111,000 | Compare |
| New Market | 544 | $72,917 | $136,900 | Compare |
| Bethel Village | 545 | $0 | $155,400 | Compare |
| Lake Village | 533 | $0 | $152,700 | Compare |
| Kewanna | 546 | $40,750 | $65,000 | Compare |
| Laketon | 532 | $78,750 | $196,700 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Indiana
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, IN?
The population of Troy, IN is 539 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Indiana.
What is the median household income in Troy?
The median household income in Troy, IN is $50,000 per year, which is 33% below the national median of $75,149.
What is the median home value in Troy?
The median home value in Troy, IN is $95,600, which is 61% 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, IN is $906, which is 22% below the national average of $1,163/month.
What is the unemployment rate in Troy?
The unemployment rate in Troy, IN is 5.2%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Troy, IN a good place to live?
Troy offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 539 and a median age of 32.6, the city appeals to young professionals and families.
How educated is Troy, IN?
15.4% of residents in Troy aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Troy?
Key cost-of-living indicators for Troy, IN: median home value is $95,600 (61% below national), median rent is $906/month, and median household income is $50,000. The home-value-to-income ratio is 1.9x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Troy?
The poverty rate in Troy, IN is 8.0%, 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, IN?
Troy's population is 1.3% White, 3.3% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.0% two or more races. 0.0% of residents are foreign-born.