Troy, AL

Troy, Alabama is a city located in the southeastern corner of Alabama. The population was just over 100,000 as of the 2010 census. Troy is known for its historic downtown district and its many restaurants and nightlife options. The city's economy is based largely on the health care industry, with a significant portion of the workforce employed in that sector. Troy also has a growing technology sector, with several companies headquartered in the city.

Real estate in Troy is primarily composed of single-family homes and apartments. The median price for a home in Troy was $130,000 as of September 2016. The city has seen an increase in home prices over the past few years, but remains relatively affordable when compared to other cities in Alabama. There are also a number of condominiums and townhomes available for purchase or lease in Troy.

The housing market in Troy is highly competitive; there are not many homes available for sale or rent at any given time. As such, buyers should expect to spend a considerable amount of time searching for the right property and negotiating terms with the seller. Homeownership rates are high in Troy; approximately 85% of households own their homes according to data from Zillow® . This high rate of homeownership makes it difficult for newcomers to enter the market and compete for properties; it can also lead to increased prices and slower growth rates for rental properties relative to other cities across Alabama .

Overall, real estate conditions in Troy are favorable; buyers should expect strong demand and competition among sellers during peak seasons, but overall prices remain relatively low when compared to other cities across Alabama .