Rents are right about where Troy's 10-year trend predicts.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,473 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: October 17, 2026
What the numbers show
October. Asking rents in Troy usually run 0.7% below trend in October and 1% above it in January, about $25 a month apart at today's median. Based on 8 years of data.
Rent in Troy is at its highest level since Zillow's records here began in January 2018.
Rent in Troy changed +7.3% over the year to September 2026. Across the 82 New York cities Zillow tracks, the typical change was +5.3%.
From 2019 to 2024, rent in Troy rose 36.2% while median household income rose 27.9% ($45,728 to $58,477). Rent outpaced income.
Rent in Troy is 53.8% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent has risen 8 months in a row, and rose in 10 of the last 12 months.
30% of the median household income ($58,477) is $1,462 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,345); a 3-bedroom is $1,620.
From Zillow's monthly rent index (ZORI) for Troy. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
Is your rent fair?
Compare your rent to the local median.
Who lives here
Troy, NY is majority renter-occupied, skews toward younger working-age adults, has a median income below the national average, 37.3% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Troy, NY has changed in 5 years
The median rent in Troy, NY stood at $1,059 in 2021 and currently runs about $1,473, reflecting a 39.1% increase over the period. Median household income rose from $50,304 to $58,477 between 2021 and 2024, a 16.2% shift. That spread, with rent up faster than earnings, points to a tougher affordability environment than five years ago. Renters now make up 62.6% of households, compared with 66.1% five years ago. College-educated residents now make up 37.3% of adults here, versus 30.7% in 2021. Taken together, the five-year picture in Troy, NY reflects how housing costs and the people paying them have evolved through a stretch that included a pandemic, a hot rental market, and a recent cooling phase.
Discussions about Troy
No discussions yet. Start the conversation.
Can you afford rent in Troy on your salary?
At $1,473/mo, how Troy rent compares to typical pay (30% rule).
Troy rent by bedroom count
Median rent for each apartment size in Troy. Click any size for full breakdown.
Tips for renters in Troy
Last updated: October 17, 2026
The median rent in Troy is $1,473/mo as of October 2026. A studio apartment averages $975/mo while a 2-bedroom runs $1,345/mo. One-bedroom apartments average $1,110/mo and 3-bedroom units go for $1,620/mo.
At 30% of local median household income ($58,477/yr), Troy ranks as moderate compared to the national benchmark of 30%. Rents have increased 7.3% over the past year.
Frequently asked questions
How much income do you need to rent in Troy?
Is rent going up or down in Troy?
When is the cheapest time to rent in Troy?
Has rent outpaced income in Troy?
Which Troy neighborhoods have the lowest rent?
How does Troy rent compare to other cities in New York?
At $1,473/mo, rent takes ~30% of Troy's median household income ($58,477/yr). The standard benchmark is 30%.
How does this area stack up?
Pick another city or ZIP to compare.
Estimated from ZIP-level data
Be the first to submit your rent for Troy.
No discussions yet.