Living in Troy, New York
Cost of living, income, home prices, rent and demographics of Troy · Census data 2020–2024
Troy has 51,033 residents with a median age of 32.3. The median household income is $58,477 (32% lower than the New York median), the median home value is $206,500, the median rent is $1,175/month.
Troy at a glance
- Population
- 51,033
- Median age
- 32.3State: 39.8
- Median household income
- $58,477State: $85,974
- Median home value
- $206,500State: $423,800
- Median rent
- $1,175/moState: $1,621
- Homeowners
- 37.4%
- Bachelor's degree or higher
- 37.3%
- Average commute
- 21 min
Is Troy a good place to live?
Pros: Home values 51% lower than the state median; an average commute of 21 minutes.
Cons: Median household income 32% lower than the New York median; unemployment of 9.1%; a poverty rate of 23.4%.
The weather is best in May–June and August–September.
Cost of living in Troy
Housing is the biggest part of the cost of living. In Troy the median home value is $206,500, 38% lower than the U.S. median. Renters pay a median of $1,175 per month, which is 31.6% of household income. Homeowners with a mortgage pay $1,774 a month in housing costs.
Troy median household income
The median household income in Troy is $58,477 and the income per person is $35,237. 23.4% of residents live below the poverty line (New York: 14%).
Housing in Troy: homes for sale and rent
- Housing units
- 24,818
- Owner-occupied
- 37.4%
- Renter-occupied
- 62.6%
- Vacant
- 14.3%Includes seasonal homes
- Median year built
- 1938
- Average household size
- 2.13
Troy demographics
- Population
- 51,033
- Median age
- 32.3
- Under 18
- 17.2%
- 65 and older
- 13.3%
- Households
- 21,265
- Foreign-born
- 8.1%
- Veterans
- 4.6%Adults 18+
Hispanic or Latino can be of any race. Population history of Troy ›
Education in Troy
37.3% of adults 25 and older in Troy have a bachelor's degree or higher (New York: 40.2%), and 15.6% have a graduate or professional degree.
Jobs and commute in Troy
- Unemployment rate
- 9.1%State: 6.4%
- Average commute
- 21 minState: 33 min
- Work from home
- 14.5%
- Drive alone
- 60.9%
- Public transit
- 5.1%
- Walk to work
- 8.5%
- Homes with broadband
- 88.9%
Troy vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Troy | 51,033 | $58,477 | $206,500 | $1,175 |
| Green Island | 2,970 | $59,406 | $138,300 | $1,084 |
| Watervliet | 10,287 | $57,919 | $179,700 | $1,083 |
| Cohoes | 18,159 | $61,145 | $223,400 | $1,251 |
| Wynantskill | 3,487 | $108,558 | $293,400 | $1,200 |
| Latham | 13,802 | $104,899 | $326,900 | $1,472 |
| Waterford | 2,085 | $72,938 | $157,500 | $1,082 |
| Menands | 4,505 | $80,583 | $271,300 | $1,414 |
| Loudonville | 10,527 | $142,829 | $391,200 | $1,829 |
More for people moving to Troy
Troy ZIP code ›Weather and climate ›Living in Troy: FAQ
What is the median household income in Troy, NY?
The median household income in Troy is $58,477, 32% lower than the New York median of $85,974 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Troy?
The median home value in Troy is $206,500, compared with $423,800 in New York.
How much is rent in Troy?
The median gross rent in Troy is $1,175 per month, about 31.6% of household income.
Is Troy, NY a good place to live?
Pluses: home values 51% lower than the state median; an average commute of 21 minutes. Minuses: median household income 32% lower than the New York median; unemployment of 9.1%; a poverty rate of 23.4%.
What is the median age in Troy?
The median age in Troy is 32.3 years (New York: 39.8).
How long is the commute in Troy?
The average commute to work in Troy is 21 minutes; 14.5% of workers work from home.
What is the unemployment rate in Troy?
The unemployment rate in Troy is 9.1% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Troy?
37.3% of adults in Troy have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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