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Real Estate Prices & Overview

Troy median real estate price is $369,246, which is more expensive than 41.0% of the neighborhoods in Virginia and 49.6% of the neighborhoods in the U.S.

The average rental price in Troy is currently $2,775, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 70.8% of the neighborhoods in Virginia.

Troy is a rural neighborhood (based on population density) located in Palmyra, Virginia.

Troy real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the Troy neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.

Real estate vacancies in Troy are 3.3%, which is lower than one will find in 78.4% of American neighborhoods. Demand for real estate in Troy is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.

Notable & Unique Neighborhood Characteristics

When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.

People

Of particular note, 16.8% of the people in the Troy neighborhood currently reside in a correction facility, held due to punishment for a crime.

Diversity

Did you know that the Troy neighborhood has more Greek ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.9% of this neighborhood's residents have Greek ancestry.

The Neighbors

How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.

The neighbors in the Troy neighborhood in Palmyra are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 77.1% of the neighborhoods in America. In addition, 4.0% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 67.9% of America's neighborhoods.

A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.

In the Troy neighborhood, 36.6% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 26.7% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (20.7%), and 15.5% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Troy neighborhood is English, spoken by 94.6% of households. Some people also speak Italian (3.7%).

Ethnicity / Ancestry

Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.

In the Troy neighborhood in Palmyra, VA, residents most commonly identify their ethnicity or ancestry as German (10.6%). There are also a number of people of English ancestry (8.3%), and residents who report Italian roots (6.9%), and some of the residents are also of Irish ancestry (6.2%), along with some Swedish ancestry residents (3.1%), among others.

Getting to Work

How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Troy neighborhood spend between 30 and 45 minutes commuting one-way to work (40.8% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (75.9%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (14.2%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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