Total monthly cost of ownership
Cost to Own a Home in Troy, Ohio
A $199,000 home here costs
$1,649per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,023. The real number is $626 higher every month — 61% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Troy against Miami County and Ohio
| Measure | Troy | Miami County |
|---|---|---|
| Median home value | $199,400 | $209,200 |
| Median property tax | $1,716 | $2,106 |
| Effective tax rate | 0.861% | 1.007% |
| Median gross rent | $934 | $942 |
| Population | 26,716 | 109,549 |
The weather behind that power bill
Troy sits in Miami County, which averages a high of 85.9°F in its hottest month and a low of 21.8°F in its coldest, with 41.33" of precipitation a year and 32% of it in a single three-month stretch. That climate drives 1,154 cooling and 5,149 heating degree days, which is what sets the $175 electricity line above.
See the full climate breakdown for Miami County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Miami County
Common questions
How much does it cost to own a home in Troy?
A $199,000 home in Troy, Ohio costs approximately $1,649 per month with 20% down at 6.66%. That is $1,023 principal and interest, $143 property tax, $74 homeowners insurance, $243 utilities and $166 set aside for maintenance.
What is the property tax rate in Troy?
Troy has an effective property tax rate of 0.861%, based on a median home value of $199,400 and median real estate taxes of $1,716. That is lower than the Miami County average of 1.007%.
What is the average home price in Troy?
The median owner-occupied home value in Troy, Ohio is $199,400, against $209,200 across Miami County.
Is it cheaper to rent or buy in Troy?
Median gross rent in Troy is $934 a month, against $1,649 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Troy — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Ohio.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.