Rent to own Homes in Troy, AL
The county seat of Pike County, Troy is a small city with a striking amount of amenities. Plus, it is close to the big city of Montgomery and other Alabama cities. If you're looking for history, quaintness, and a sense of community then start exploring Troy as a place to live. Relax with a coffee in the downtown square or visit one of the community projects to get a feel for Troy.
Troy, AL is a great place for affordable rent-to-own homes! With a median household income of over $34,603 and a median rent of $740, the Troy, AL rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Troy, AL. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
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Rent to own Homes in Cities Near Troy, AL
Neighborhoods in Troy, AL
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Troy, AL is seeing rapid growth and Troy, AL's' housing market remains optimal with an average home price that is -26% below the 2024 national average. Troy, AL is part of Pike county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2024 for county Pike is 0.34% which is below the national average, which is 0.99%.
Median Home Price in Troy, AL
Median Rent in Troy, AL
Top 4 Reasons to Live in Troy, AL
Quaint streets, local businesses, and a neighborhood buzz! Troy is renowned for its Victorian houses and quaint streets. In this city you'll enjoy a walk downtown to meet the neighbors, do your shopping, and enjoy the atmosphere. Take in some culture at the Johnson Center for the Arts or learn about history at the Pioneer Museum of Alabama. For a more active lifestyle try walking on some trails just outside town.Troy will inspire with its beauty and community.
There's a variety of housing to choose from in town! Troy has a diverse range of housing from rent to own homes to condos to Victorian town houses. There are apartments, too, and larger homes with lots of land. Whatever your budget, this is a city with something to suit most people's pockets and have something left over for the decorating.
Community projects run by the locals! If you move to Troy, chances are that you will either get involved in or benefit from a community project. Here, the community is involved with making the place look good and in the festivals held locally. There are projects for green spaces and a successful anti-litter campaign, as well as those supporting more vulnerable members of the community. After keeping busy, make sure to take a load off at Crowe's Fried Chicken, or Hook's BBQ.
Prices are right! In Troy the house prices are lower than other parts of the USA and have not moved recently. It's a good time to make the move now, as you'll get more land and space for your bucks. With the median land price under $100 per square foot, you'll find more choice and a variety of rent to buy homes here, too. Troy also has access to good facilities and other cities so you can enjoy the best of both worlds in a small town atmosphere.