Troy, IL is a thriving suburb located in the Southwestern part of Illinois. With a population of over 20,000 people, this small city offers an affordable quality of life. The average monthly rent for a two-bedroom apartment in Troy is $930 compared to the US average of $1,430. Additionally, the grocery cost index in Troy is 98 versus 100 in the US. This makes it an attractive option for those looking for affordable housing and groceries. Notable local businesses include A&E Automotive Solutions, Joe's Pizza & Pasta House, Revive Salon and Spa and Troy Appliance Repair & Installation Inc. These companies offer services that benefit the local community and help contribute to its economic growth and development.
Troy has an unemployment rate of 5.4%. The US average is 6.0%.
Troy has seen the job market decrease by -6.8% over the last year. Future job growth over the next ten years is predicted to be 31.5%, which is lower than the US average of 33.5%.
Tax Rates for Troy
- The Sales Tax Rate for Troy is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Troy is 5.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Troy
- The average income of a Troy resident is $36,707 a year. The US average is $37,638 a year.
- The Median household income of a Troy resident is $80,677 a year. The US average is $69,021 a year.