Troy, Illinois, a city with a population of 15,160 as of 2022, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory consisting of 26 total units, all designated as low-income units. This represents approximately 0.45% of the city's estimated housing inventory of 5,808 units. Troy has received $146,216 in project tax credits through the LIHTC program, with an average of $48,739 per project and $5,624 in federal funding per unit. The city's LIHTC funding accounts for 0.02% of the total state funding for Illinois.

The first LIHTC project in Troy was completed in 1987, and the most recent project was finished in 1993, indicating that affordable housing has been present in the city for at least 36 years. The 1990s saw the most affordable housing development activity in Troy. The LIHTC-funded housing inventory in Troy consists entirely of one-bedroom units, totaling 26 units, suggesting a focus on housing for individuals or small households.

One notable project is the Senior Citizens Housing, completed in 1987, which likely addresses the specific housing needs of Troy's elderly population. Over the last decade, Troy's population has grown from 14,191 in 2013 to 15,160 in 2022, an increase of about 6.8%. The median income has also risen, from $85,405 in 2013 to $86,997 in 2022. The racial composition of Troy has remained relatively stable, with the white population consistently representing over 90% of residents.