Commercial Real Estate Market in Troy, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
29 active listings and 316 off-market properties in Troy, IL.
Market Trends
Troy, IL spans 29.5 square miles in Madison County, Illinois. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Troy, IL runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Retail
Retail vacancy in Troy, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Troy, IL runs 4.9% across the Midwest region in 2025, up from 4.4% in 2019. Nearly 1.6x the 2022 low of 3.1%.
Vacancy Rate % in Midwest region
Multifamily
Multifamily space in Troy, IL asks $60/SF to buy. Vacancy runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in Midwest region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 75.4%
- Commercial 15.4%
- Planned_development 4.1%
- Mixed use 0.8%
Largest Zones share of zoned land by district
Single Family Residential
Highway Commercial
Single Family Residential
Two Family Residential
General Commercial
Troy, IL zones 4,090 acres across 16 districts. Commercial zoning covers 15.4% of zoned land, residential 75.4%. The largest single district is Single Family Residential at 62.8%. For commercial buyers the practical constraint is that only 15.4% of land carries a commercial or industrial designation.
Single Family Residential (R-1A)
Single-Family Residential R-1A Two-Family Residential R-2 Multi-Family Residential R-3 Manufactured Home M-H Neighborhood Commercial C-1 General Commercial C-2 Highway Commercial C-3 Old Town C-4 Planned Developments PD-B and PD-R Light Industry I-1 General Industry I-2 3-1.1 AGRICULTURAL RESERVE - A-R ZONING DISTRICT The A-R district is intended to protect…
Market overview
Demographics & Economy
Troy, IL has 15,431 residents in 6,138 households. Density runs 523 people per square mile. Median household income here is $108,418 and median gross rent $1,069 a month.
15,431
Population
6,138
Households
2.5
Avg Household Size
39
Median Age
47%
College-Educated
98%
High-School Grad
29.5 sq mi
ZIP Area
523
Density / Sq Mi
$108,418
Median Household Income
$57,002
Median Earnings
$1,069
Median Rent
$255,700
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Maryville | — | — |
| Lumaghi Heights | — | — |
| Glen Carbon | — | — |
| Saint Jacob | — | — |
Commercial property in Troy, IL asks $37/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Troy?
Commercial property in Troy, IL asks an average of $37 per square foot. Multifamily carries the highest asking price at $60/SF.
What zoning applies to commercial property in Troy?
Troy, IL zones 4,090 acres across 16 districts, of which 15.4% is commercial and 0% industrial. The largest single district is Single Family Residential at 62.8% of zoned land. Residential zoning covers 75.4% and open space 0%.
Where does Realmo's Troy market data come from?
Realmo compiles Troy, IL figures from 4 recent recorded sales, 22 active sale listings, 7 active lease listings, 316 tracked off-market properties, the current Troy zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 22 active for-sale and 7 active for-lease listings in Troy, IL. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 4,090 zoned acres across 16 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Midwest region level, retail vacancy is reported at Midwest region level and industrial vacancy is reported at Midwest region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
