Troy, NC
Population 2,905 · North Carolina
About Troy, NC
Troy is a small town located in North Carolina with a population of 2,905 residents according to the latest US Census Bureau American Community Survey data. The median household income is $60,167 per year, which is 20% below the national median of $75,149. The median age of 40.8 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Troy features a median home value of $134,500, which is 45% 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 $554, 52% below the national average of $1,163/month. Of the 1,312 total housing units, 46% are owner-occupied (487 units) and 54% are renter-occupied (561 units). The higher proportion of renters may reflect a transient population, younger demographics, or high housing costs relative to income.
Economy & Employment
The local economy in Troy shows an unemployment rate of 1.6%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 18.1%, above the national average of 12.4%. Workers in Troy have an average one-way commute time of 24.9 minutes.
Education & Demographics
23.5% 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 9.7% White, 0.4% Hispanic or Latino, 0.0% Black or African American, and 0.3% Asian residents, with 3.7% of the population being foreign-born.
How Troy Ranks in North Carolina
Cost of Living in Troy, NC
Compared to national averages, Troy has a median household income of $60,167 (20% below the national median of $75,149). Home values average $134,500, which is 45% below the national median. Monthly rent at $554 is 52% below the US average of $1,163. Within North Carolina, Troy's income is 7% below the state average of $64,468, and home values are 41% below the state median of $228,922.
Why Live in Troy, NC?
Troy offers affordable housing with a median home value of $134,500, below the US average of $244,900, and rent that’s lower than the national average at $554/month, and a strong job market with an unemployment rate of just 1.6%. Additionally, the city features short commute times averaging just 24.9 minutes.
Potential considerations include median household income ($60,167) 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 2,905 with a median age of 40.8 years. Compare Troy with other cities to see how it stacks up, or explore all cities in North Carolina.
Similar Cities Near Troy
Cities in North Carolina with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Lake Junaluska | 2,903 | $82,115 | $329,600 | Compare |
| Fairfield Harbour | 2,898 | $69,661 | $278,800 | Compare |
| River Bend | 2,896 | $68,314 | $233,700 | Compare |
| Bayshore | 2,870 | $97,174 | $498,300 | Compare |
| Lake Royale | 2,959 | $96,250 | $263,000 | Compare |
| Carthage | 2,840 | $62,177 | $194,100 | Compare |
| Yadkinville | 2,986 | $43,577 | $172,800 | Compare |
| Pembroke | 2,823 | $22,940 | $114,700 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in North Carolina
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, NC?
The population of Troy, NC is 2,905 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in North Carolina.
What is the median household income in Troy?
The median household income in Troy, NC is $60,167 per year, which is 20% below the national median of $75,149.
What is the median home value in Troy?
The median home value in Troy, NC is $134,500, which is 45% below the national median of $244,900. A significant portion of residents rent their homes.
What is the average rent in Troy?
The median monthly rent in Troy, NC is $554, which is 52% below the national average of $1,163/month.
What is the unemployment rate in Troy?
The unemployment rate in Troy, NC is 1.6%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Troy, NC a good place to live?
Troy offers a moderate cost of living, affordable housing, and a strong job market. With a population of 2,905 and a median age of 40.8, the city appeals to a broad range of residents.
How educated is Troy, NC?
23.5% 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, NC: median home value is $134,500 (45% below national), median rent is $554/month, and median household income is $60,167. The home-value-to-income ratio is 2.2x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Troy?
The poverty rate in Troy, NC is 18.1%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Troy, NC?
Troy's population is 9.7% White, 0.4% Hispanic or Latino, 0.0% Black or African American, 0.3% Asian, and 33.7% two or more races. 3.7% of residents are foreign-born.