| Index | Troy | Alabama | National |
| Cost of living | 92 | 89 | 100 |
| Groceries | 94 | 96 | 100 |
| Health care | 94 | 95 | 100 |
| Housing | 85 | 74 | 100 |
| Transportation | 98 | 95 | 100 |
| Utilities | 96 | 97 | 100 |
| Lifestyle & Entertainment | 96 | 94 | 100 |
| Household Items | 94 | 96 | 100 |
| Education & Childcare | 92 | 93 | 100 |
Getting a feel for the cost of living in Troy is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Troy is 92, which is 8% lower than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.
Everyday expenditures like food, housing, lifestyle expenses, transportation and health care in Troy are priced in a manner consistent with other areas. This means that residents of Troy can anticipate their daily expenses remaining reasonably similar to those in an average city, thereby supporting a manageable cost of living.
The most insightful perspective on a city comes from its residents. We recently surveyed 5 locals to gauge their perception of the cost of living in Troy. The feedback revealed that 20% of respondents found the cost of living to be reasonable, with prices on the decline, while 80% regarded it as notably expensive with prices that continue to rise.
Is Troy affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Troy, for instance, where the median home price falls 11% lower than the national average, and monthly rent rates are 23.4% lower than usual. Additionally, median income levels contribute to the equation, with Troy flaunting a median household income of $52,387, 35.6% lower than the national norm.
Housing: Elevated demand for housing within coveted locales has the propensity to escalate both property values and rental rates, thereby serving as a primary catalyst for an augmented cost of living. Conversely, areas witnessing diminished housing demand, particularly within less desirable environs, often experience an inversely proportional effect, leading to price reductions and subsequently contributing to a more modest cost of living. In Troy, the housing index is 14.7% lower than the national average.
Transportation: In areas where public transportation is scarce or unavailable, residents often find themselves compelled to own and upkeep vehicles, thereby increasing the overall cost of living. Monthly expenses encompass fuel, insurance, routine maintenance and potentially lease or financing payments. In Troy, the transportation index is 1.7% lower than the national average.
Subsidies: Some cities and states may extend government subsidies or aid programs aimed at reducing the cost of living for their residents. These initiatives encompass diverse forms of support, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farm subsidies. Regions with limited subsidy provisions may witness an increase in their overall cost of living.
The Troy cost of living data displayed above uses a U.S. average baseline of 100 to provide a practical way to compare living expenses across cities. Housing estimates incorporate U.S. Census home price and rental data, while all other values are generated using AI-assisted models based on everyday expense expectations, regional pricing trends, climate, transportation patterns, and local economic conditions. These values are designed for directional city-to-city comparisons.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $103,575 | $8,631 | $2,417 | $3,108 |
| Renters | $25,456 | $2,121 | $594 | $764 |
| State | General Sales Tax | With Max Surtax |
| Alabama | 4% | 13.5% |
| State | Income Tax (Low) | Income Tax (High) |
| Alabama | 2% | 5% |
| City | Population | Cost of Living Index | National Avg. |
| Glenwood, AL | 260 | 73 | 27.2% |
| Petrey, AL | 62 | 79 | 21.1% |
| Brundidge, AL | 2,500 | 82 | 18.1% |
| Ariton, AL | 750 | 83 | 16.9% |
| Goshen, AL | 226 | 85 | 15.2% |
| Troy, AL | 19,684 | 92 | 7.8% |
| City | Population | Cost of Living Index | National Avg. |
| Rosedale, CA | 19,688 | 141 | 41.0% |
| Ronkonkoma, NY | 19,676 | 134 | 34.5% |
| Shelbyville, IN | 19,667 | 87 | 13.0% |
| South San Jose Hills, CA | 19,654 | 142 | 42.0% |
| Haslett, MI | 19,651 | 102 | 1.5% |
| Troy, AL | 19,684 | 92 | 7.8% |
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