Troy cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexTroyAlabamaNational
Cost of living index9289100
IndexTroyAlabamaNational
Goods & Services index9396100
Groceries index9697100
Health care index8287100
Housing index8373100
Transportation index9492100
Utilities index109104100
Displayed above is a general overview of the Troy, AL cost of living index. The overall cost of living index in Troy, AL is 92, which is 3% higher than the Alabama average and 8% lower than the national average. The cost of living index is created from the following categories: goods/services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). As you can see, goods/services and housing make up the majority of the overall cost of living index. Everyday goods and services can be a good indicator of the general cost of goods in a given city. In this case, the goods and services in Troy, AL are 3% lower than the Alabama average and 7% lower than the national average.

Did you know?

  • The cost of living in Troy is 3% higher than the Alabama average.
  • The cost of living in Troy is 8% lower than the national average.
  • The cost of housing in Troy is 17% lower than the national average.
  • Alabama general sales tax is 21% lower than the national average.
  • Alabama state income tax is 10% lower than the national average.

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Salary Calculator

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Use the salary calculator to compare your current salary in Troy, AL to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in Troy, AL, then you would need to earn more income in order to maintain the same standard of living. To use the Troy, AL salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$66,120$5,510$1,543$1,984
Renters$17,132$1,428$400$514
How much of your monthly income goes to housing can tell you whether or not you can afford housing in Troy, AL, as well as what the average cost of living is. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payment and not more than 36 percent of income on all expenses and debts. In Troy, AL homeowners have a median income of $66,120. Using that number, you will come up with a maximum of $1,543 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $17,132, which means there is a maximum of $400 to be spent on the costs of renting a home or apartment.

Alabama Sales Tax

StateGeneral Sales TaxWith Max Surtax
Alabama4%10%

Alabama Income Tax

StateIncome Tax (Low)Income Tax (High)
Alabama2%5%
The Alabama sales tax and Alabama income tax rates should definitely be considered when determining the overall cost of living in Troy, AL. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The Alabama sales tax is 4% and the maximum surtax is 10%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The Alabama income tax rates range from 2% to 5%.

Goods & Services

ItemTroyNational avg.Difference
Haircut $15.00$15.563.6%
Beauty Salon $35.53$36.111.6%
Toothpaste $2.06$2.4716.5%
Shampoo $0.96$0.960.9%
Movie $8.42$10.1316.9%
Bowling $4.22$4.7410.9%

Groceries

ItemTroyNational avg.Difference
Ground Beef $3.90$3.982.2%
Fried Chicken $1.39$1.411.5%
Milk $2.32$2.0612.6%
Potatoes $2.86$2.984.2%
Pizza $8.49$9.4710.3%
Beer $8.86$8.790.8%

Health Care

ItemTroyNational avg.Difference
Optometrist $78.60$101.0422.2%
Doctor $74.74$107.4430.4%
Dentist $65.48$90.4227.6%
Ibuprofen $10.22$9.2810.1%
Lipitor $440.71$426.503.3%

Housing

ItemTroyNational avg.Difference
Home Price $158,300.00$175,700.009.9%
Avg. Mortgage Payment $964.02$1,133.2314.9%
Apartment Rent $606.00$920.0034.1%

Transportation

ItemTroyNational avg.Difference
Gasoline $1.79$1.9910.0%
Tire Balancing $47.11$45.762.9%

Utilities

ItemTroyNational avg.Difference
All Electricity$183.78$163.8112.2%
Phone $29.99$28.395.6%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
Petrey, AL4177-23%
Banks, AL18479-21%
Brundidge, AL2,00777-23%
Goshen, AL29982-18%
Ariton, AL72080-20%
Troy, AL18,63692-8%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Trenton, MI18,63589-11%
Linda, CA18,6341011%
Bourbonnais, IL18,64198-2%
Conway, SC18,64594-6%
Castaic, CA18,61914040%
Troy, AL18,63692-8%
Source: The Troy, AL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.