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.
IndexTroyOhioNational
Cost of living index9391100
IndexTroyOhioNational
Goods & Services index10496100
Groceries index10799100
Health care index9196100
Housing index7375100
Transportation index9695100
Utilities index101101100
A general summary of the cost of living index in Troy, OH is shown above. Compared to the state average of Ohio the cost of living index in Troy, OH is 93, which is 3% higher than the average in Ohio and compared to the national average it is 7% lower than. The cost of living index is made up of several categories. These are transportation at 9%, utilities at 10%, goods and services at 33%, housing at 30%, groceries at 13%, and health care at 5%. The bulk of the cost of living index comes from the categories of goods and services and housing. If you look at everyday goods and services they can be a good indicator in a certain city of the general costs of goods there. In Troy, OH goods and services come in at 8% higher than the average in Ohio and are 4% higher than compared to the nationwide average.

Did you know?

  • The cost of living in Troy is 3% higher than the Ohio average.
  • The cost of living in Troy is 7% lower than the national average.
  • The cost of housing in Troy is 27% lower than the national average.
  • Ohio general sales tax is 13% higher than the national average.
  • Ohio state income tax is 76% lower than the national average.

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Salary Calculator

This is how much you would need to earn in
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Cost of living index
Goods & Services index
Groceries index
Health care index
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The salary calculator is used in order to provide a comparison of your current salary in Troy, OH to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Troy, OH, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Troy, OH salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$62,279$5,190$1,453$1,869
Renters$30,788$2,566$718$924
The affordability of the housing market in Troy, OH as well as the overall cost of living can be indicated accurately by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Troy, OH homeowners, the median income is $62,279. This indicates that a monthly maximum of $1,453 should be spent by homeowners on all housing related costs. Renters have a median income of $30,788. This indicates that renters should have a maximum of $718 used for their rent related monthly costs.

Ohio Sales Tax

StateGeneral Sales TaxWith Max Surtax
Ohio5.75%8%

Ohio Income Tax

StateIncome Tax (Low)Income Tax (High)
Ohio0.528%5.333%
One thing to keep in mind when considering the cost of living in Troy, OH is the Ohio sales tax and Ohio income tax rates. Sales taxes are taxes that are collected on most goods or services sold. Sales taxes can vary by state and can be as high as 7% and as low as 0% as not every state imposes a sales tax. The Ohio sales tax rate is 5.75% and the maximum surtax that can be charged is 8%. Income tax is the tax imposed on income by both the federal and state government. The income tax rates varies by individual state and will also be higher or lower depending on the applicable tax bracket. The rates of state income tax can vary from 0% to more than 9%. The Ohio income tax rates range from 0.528% to 5.333%.

Goods & Services

ItemTroyNational avg.Difference
Haircut $18.00$14.5923.3%
Beauty Salon $47.40$34.6836.7%
Toothpaste $2.87$2.4716.0%
Shampoo $1.25$1.0222.3%
Movie $11.63$9.8717.9%
Bowling $5.50$4.3925.2%

Groceries

ItemTroyNational avg.Difference
Ground Beef $5.49$4.4822.6%
Fried Chicken $1.91$1.4630.5%
Milk $2.29$2.362.8%
Potatoes $3.39$3.0610.7%
Pizza $8.39$9.249.2%
Beer $7.99$8.637.4%

Health Care

ItemTroyNational avg.Difference
Optometrist $86.35$99.7813.5%
Doctor $78.50$105.0325.3%
Dentist $84.00$88.705.3%
Ibuprofen $9.01$9.414.3%
Lipitor $304.35$298.502.0%

Housing

ItemTroyNational avg.Difference
Home Price $123,200.00$175,700.0029.9%
Avg. Mortgage Payment $811.81$1,081.0324.9%
Apartment Rent $733.00$920.0020.3%

Transportation

ItemTroyNational avg.Difference
Gasoline $2.02$2.093.3%
Tire Balancing $41.99$45.297.3%

Utilities

ItemTroyNational avg.Difference
All Electricity$144.29$170.8015.5%
Phone $34.95$28.2623.7%
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.
Highland Holiday, OH40784-16%
Rosewood, OH33287-13%
Crystal Lakes, OH1,39887-13%
Piqua, OH20,64988-12%
Potsdam, OH27588-12%
Troy, OH25,33493-7%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Citrus Park, FL25,3291000%
Coral Terrace, FL25,31811515%
Summerlin South, NV25,31513131%
Syracuse, UT25,37411313%
Wright, FL25,38497-3%
Troy, OH25,33493-7%
Source: The Troy, OH cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.