Troy is part of the St. Louis Metropolitan Statistical Area.
Troy was platted in 1819. Some say the community was named after Troy, New York, while others believe the name is a transfer from Troy, Vermont. An early variant name was Woods Fort. A post office called Troy has been in operation since 1823.
Fort Cap au Gris, a War of 1812 fortification, was built near Troy in 1814. Lincoln County Medical Center was established in Troy in 1953 under the Hill-Burton Memorial Hospitals Act, as Lincoln County Memorial Hospital. Cuivre River State Park, one of the largest of Missouri’s state parks, lies approximately three miles to the northeast of Troy, across the Cuivre River valley.
Troy is home to Troy Buchanan High School, Troy Middle School, Troy South Middle School, Main Street Elementary, Boone Elementary School, Claude Brown Elementary, Cuivre Park Elementary, Lincoln County R-III Early Childhood Education Center, William Cappel Elementary School, and Lincoln Elementary School, all of which are part of the Lincoln County R-III School District.