Troy, Ohio is a city located in Miami County with a population of 25,058 according to the 2019 US Census Bureau estimates. Troy is home to several notable companies such as Hobart Corporation, Miami Valley Gaming, and Premier Health Partners. The cost of living in Troy is relatively low compared to the US average. According to Rent Jungle (2021), 2 bedroom rents in Troy are priced at $940 while the US average is $1,430. Furthermore, grocery cost index in Troy stands at 98 when compared with 100 for the average US city. Therefore, the cost of living in Troy can be considered affordable due to its lower housing and food costs when compared with the national average.
Troy has an unemployment rate of 3.8%. The US average is 6.0%.
Troy has seen the job market decrease by -4.3% over the last year. Future job growth over the next ten years is predicted to be 30.8%, which is lower than the US average of 33.5%.
Tax Rates for Troy
- The Sales Tax Rate for Troy is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Troy is 5.2%. 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 $32,510 a year. The US average is $37,638 a year.
- The Median household income of a Troy resident is $65,563 a year. The US average is $69,021 a year.