Home Insurance in Troy, Illinois
The median home value in Troy is $268,000, 55% higher than the Madison County median.
The typical home in Troy was built around 1993. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild. About 11% of homes were built before 1960, about 25 points below Madison County's 36%.
The housing stock in Troy is 79% single-family homes, 7% apartments in buildings with 5+ units and 1% mobile or manufactured homes. The rest are 2-4 unit or other housing types.
About 71% of owner-occupied homes in Troy have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
About 74% of occupied homes in Troy are owner-occupied. The vacancy rate is 9%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
In Troy, 69% of homes are primarily heated with natural gas.
FEMA rates Madison County's overall risk as Relatively Moderate, led by tornado (Relatively High). Madison County had 934 active NFIP flood policies as of September 2026. See the full Madison County home insurance overview for all FEMA hazard ratings and flood coverage details.
In Illinois, the statewide average premium for a standard HO-3 homeowners policy is $1,480 per year (NAIC, 2023 data).
Key figures
| Median home value | $268,000 |
|---|---|
| Median year built | 1993 |
| Owner-occupied share | 74% |
| Share of owner-occupied homes with a mortgage | 71% |
| Top county hazard | Tornado (Relatively High) |
| Active NFIP policies in Madison County | 934 |
| Home insurance premium | $1,480 - statewide average (NAIC, 2023 data) |
Nearby towns
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)