Total monthly cost of ownership
Cost to Own a Home in Troy, Texas
A $188,000 home here costs
$1,804per month, all in, with 20% down at today's 7.40% 30-year fixed rate. By the 28% rule that takes a household income of about $77,500 a year.
A standard mortgage calculator would have told you $1,041. The real number is $763 higher every month, 73% more than the payment most buyers budget for.
Compare Bell County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Troy from a five-year rolling sample, and with about 2,628 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Bell County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Troy against Bell County and Texas
| Measure | Troy | Bell County |
|---|---|---|
| Median home value | $188,200 | $221,100 |
| Median property tax | $2,877 | $3,409 |
| Effective tax rate | 1.529% | 1.542% |
| Median gross rent | $1,141 | $1,168 |
| Population | 2,628 | 379,811 |
The weather behind that power bill
Troy sits in Bell County, which averages a high of 96.0°F in its hottest month and a low of 35.7°F in its coldest, with 36.97" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 2,630 cooling and 2,032 heating degree days, which is what sets the $174 electricity line above.
See the full climate breakdown for Bell County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Bell County
Talk to someone who works this market
These are Troy averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Troy every week. Free, no obligation, and we never sell your details to a list.
Common questions
How much does it cost to own a home in Troy?
A $188,000 home in Troy, Texas costs approximately $1,804 per month with 20% down at 7.4%. That is $1,041 principal and interest, $240 property tax, $124 homeowners insurance, $242 utilities and $157 set aside for maintenance.
What is the property tax rate in Troy?
Troy has an effective property tax rate of 1.529%, based on a median home value of $188,200 and median real estate taxes of $2,877. That is lower than the Bell County average of 1.542%.
What is the average home price in Troy?
The median owner-occupied home value in Troy, Texas is $188,200, against $221,100 across Bell County.
Is it cheaper to rent or buy in Troy?
Median gross rent in Troy is $1,141 a month, against $1,804 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Troy?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Troy, Texas at today's rate takes a household income of roughly $77,500 a year. That covers the full $1,804 monthly cost, not just the mortgage payment.
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 Texas.
- 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.