Troy, AL Cost Of Living
Cost Of Living In Troy, AL Summary
Cost of living in Troy research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Troy is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Alabama, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Troy is 87, with 100 being the average.
The cost of living index in Troy is 0.9x lower than the national average.
Troy ranks as the #39 cheapest in Alabama out of 115.
Troy ranks as the #1,101 cheapest out of 6,412 in the US.
The median home value in Troy is $168,700.
The median income in Troy is $36,409.
Table Of Contents
Troy's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Troy, AL?
According to the most recent data on the cost of living, Troy has an overall cost of living index of 87, which is 0.9x lower than the national index of 100.
Compared to Alabama, Troy has a cost of living index that's 1.0x lower than Alabama's index of 88.
The standard of living in Troy ranks as #39 most affordable out of the 115 places we measured in Alabama. By definition, that implies Troy ranks as the #76 most expensive place in the Heart of Dixie.
For more reading on life in Troy, check out:
- Living In Troy
- Troy Crime Report
- Search Homes For Sale In Troy, AL
In Alabama
In America
Troy Cost Of Living Vs. Alabama
Six factors go into calculating the cost of living index in Troy. Here is how it fairs on each of the criteria:
The Services index in Troy is 94.
The Groceries index in Troy is 99.
The Health index in Troy is 84.
The Housing index in Troy is 79.
The Transportation index in Troy is 93.
The Utilities index in Troy is 101.
| Living Expense | Troy | Alabama | National Average | |
|---|---|---|---|---|
| Overall | 87 | 88 | 100 | |
| Services | 94 | 95 | 100 | |
| Groceries | 99 | 97 | 100 | |
| Health | 84 | 88 | 100 | |
| Housing | 79 | 69 | 100 | |
| Transportation | 93 | 90 | 100 | |
| Utilities | 101 | 101 | 100 | |
Troy, AL Housing Cost Breakdown
Housing swings affordability the most between places in Alabama, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Troy is $168,700.
The Median Rent in Troy is $793.
The Median Income in Troy is $36,409.
The Home Value To Income in Troy is 4.6x.
The Rent To Monthly Income in Troy is 0.26x.
| Statistic | Troy | Alabama | United States |
|---|---|---|---|
| Median Home Value | $168,700 | $157,100 | $244,900 |
| Median Rent | $793 | $852 | $1,163 |
| Median Income | $36,409 | $54,943 | $69,021 |
| Home Value To Income | 4.6x | 2.9x | 3.5x |
| Rent To Monthly Income | 0.26x | 0.19x | 0.2x |
Median Home Value
Median Rent
Median Income
Troy, AL Costs By Category
Detailed Troy Services Costs Vs. Alabama
Detailed Troy Groceries Costs Vs. Alabama
Detailed Troy Health Costs Vs. Alabama
Detailed Troy Transportation Costs Vs. Alabama
Detailed Troy Utilities Costs Vs. Alabama
Troy SnackAbility
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Cost Of Living In Cities Around Troy
The cost of living varies in the cities and towns around Troy. Here's a quick look at the cost of living in the most populous nearby places:
Montgomery, AL has a cost of living index of 86, 1.0x Troy.
Enterprise, AL has a cost of living index of 95, 1.1x Troy.
Ozark, AL has a cost of living index of 86, 1.0x Troy.
| City | Population | Cost Of Living | Vs. Troy |
|---|---|---|---|
| Montgomery, AL | 201,022 | 86 | 1.0x |
| Enterprise, AL | 28,242 | 95 | 1.1x |
| Ozark, AL | 14,396 | 86 | 1.0x |
| Eufaula, AL | 12,753 | 88 | 1.0x |
