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Troy Grove

Learn about the people, housing, costs and businesses in Troy Grove, Illinois

Median Home$172,500
Median Rent$1,086/month
Population226
Leading IndustriesConstruction · Agriculture & Mining23% construction
Home Value Growth+9.0% over 2 years
Family-Friendly26% of residentsabove average nationally
Homeowners85% of occupied units
Troy Grove
IL

Frequently Asked Questions

What are today's mortgage rates in Troy Grove?

As of today, the 30-year fixed mortgage rate for Troy Grove is approximately 6.994% (7.003% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Troy Grove?

The median home value in Troy Grove is $173k. The median monthly rent is $1,086. Annual property taxes average $3k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Troy Grove?

Home values in Troy Grove have increased 9.0% over the past two years. This represents moderate growth. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Troy Grove?

Based on a typical all-in ownership cost of $1,045/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $45k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Troy Grove is $64k/year.

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What industries drive the economy in Troy Grove?

The largest employment sectors in Troy Grove are agriculture and mining (23%) and construction (23%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.