| Index | Troy | Illinois | National |
| Cost of living | 100 | 98 | 100 |
| Groceries | 100 | 100 | 100 |
| Health care | 98 | 100 | 100 |
| Housing | 100 | 95 | 100 |
| Transportation | 100 | 101 | 100 |
| Utilities | 102 | 99 | 100 |
| Lifestyle & Entertainment | 97 | 100 | 100 |
| Household Items | 98 | 100 | 100 |
| Education & Childcare | 99 | 100 | 100 |
The cost of living in Troy affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Troy is 100, which is 0% equal to the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.
The cost of living in Troy is about average when compared to all other cities across the nation. You can expect that everyday items like food, household expenses and utility bills will be no more expensive than any other average city. Residents can anticipate living expenses that remain in line with the national average, ensuring a manageable financial burden, making it an attractive choice for those seeking affordability without the constraints of higher everyday expenditures.
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 4.6% higher than the national average, and monthly rent rates are 10.2% lower than usual. Additionally, median income levels contribute to the equation, with Troy flaunting a median household income of $114,546, 40.8% higher than the national norm.
Taxes: Locations with elevated tax rates, encompassing both sales and income taxes, can be a factor in driving up the cost of living. When you're paying more in taxes for everyday household expenses, it naturally translates into higher expenses. Similarly, a higher income tax rate can also contribute to an overall higher cost of living. In Troy, the standard sales tax rate starts at 6.25%, and the income tax rates commence at 4.95%.
Transportation: In situations where public transportation is limited or nonexistent, local residents may be required to own and maintain their own vehicles, contributing to an elevated cost of living. Monthly expenditures may encompass fuel costs, insurance premiums, routine vehicle upkeep and possibly lease or financing payments. In Troy, the transportation index is 0.2% higher than the national average.
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 0.1% higher than the national average.
The Troy cost of living data above is designed around a U.S. average baseline of 100, allowing for easy comparisons of relative living costs. Housing incorporates U.S. Census home price and rental data, while all other figures are AI-assisted estimates that account for regional price trends, climate, transportation dynamics, and common everyday expenses. These values are best used as 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 | $145,594 | $12,133 | $3,397 | $4,368 |
| Renters | $46,331 | $3,861 | $1,081 | $1,390 |
| State | General Sales Tax | With Max Surtax |
| Illinois | 6.25% | 10.25% |
| State | Income Tax (Low) | Income Tax (High) |
| Illinois | 4.95% | 4.95% |
| City | Population | Cost of Living Index | National Avg. |
| Brooklyn, IL | 445 | 74 | 26.2% |
| East St. Louis, IL | 27,033 | 77 | 22.5% |
| Alorton, IL | 2,149 | 78 | 22.3% |
| Centreville, IL | 5,098 | 78 | 22.0% |
| Sauget, IL | 241 | 78 | 21.6% |
| Troy, IL | 10,601 | 100 | 0.5% |
| City | Population | Cost of Living Index | National Avg. |
| Sumner, WA | 10,604 | 131 | 31.2% |
| Milton, FL | 10,597 | 100 | 0.1% |
| Hillsdale, NJ | 10,605 | 157 | 56.9% |
| Nanticoke, PA | 10,607 | 86 | 14.4% |
| Danville, IN | 10,592 | 96 | 4.0% |
| Troy, IL | 10,601 | 100 | 0.5% |
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