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City Report · NY

Troy

Pop. 51,033·99th most expensive in New York·Troy rents are up 7.8% over the past year
Median rent (all units)
$1,501/mo
Year-over-Year
+7.8%
Month-over-Month
+0.3%
vs US Median
-$464
Stable (Monthly)
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Most AffordableMost Expensive
Troy · $1,501
More affordable than 75% of US cities · National median $1,965/mo
Rent Reality Score
56/100
Fairly priced
OverheatedFairGreat value

Rents are 3% below what Troy's 10-year trend predicts — a better deal than its own history suggests.

Actual rent
$1,501/mo
Expected by trend
$1,549/mo
The Rent Reality Score compares today's median rent to where Troy's own long-run trajectory projects it should be. See the full rankings →
Medians by bedroom

Rent by unit size

Studio
$975
1 BR
$1,110
2 BR
$1,345
3 BR
$1,620
4 BR+
$1,785
Research median
$1,345/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$18,012/yr
At $1,501/mo median
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 7.8% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+7.8% YoY, +0.3% MoM), not inventory.
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Demographics

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.

Population
51,033
Median income
$58,477
Median age
32.3
Renters
62.6%
Age distribution
17.2%
37.3%
21.7%
13.3%
Under 1817.2%
18–3437.3%
35–5421.7%
55–6410.5%
65+13.3%
Gender
49.7%
50.3%
Male49.7%
Female50.3%
Race & ethnicity
63%
16.7%
White63%
Black16.7%
Hispanic10.3%
Asian4%
Other6%
Education (25+)
23.9%
27.7%
37.3%
No HS diploma11%
HS diploma23.9%
Some college27.7%
Bachelor's+37.3%
Housing tenure
37.4%
62.6%
Owner37.4%
Renter62.6%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Troy, NY has changed in 5 years

Rent
$1,140 → $1,501
up 31.7%
Income
$50,304 → $58,477
up 16.2%
Population
50,717 → 51,033
up 0.6%
Renter share
66.1% → 62.6%
-3.5 pts
Bachelor's+
30.7% → 37.3%
+6.6 pts

The median rent in Troy, NY stood at $1,140 in 2021 and currently runs about $1,501, reflecting a 31.7% 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.

Community

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View Troy rent history (2015–2026) →
Salary vs rent

Can you afford rent in Troy on your salary?

At $1,501/mo, how Troy rent compares to typical pay (30% rule).

By apartment size

Troy rent by bedroom count

Median rent for each apartment size in Troy. Click any size for full breakdown.

Local insights

Tips for renters in Troy

About renting in Troy, NY

Last updated: July 20, 2026

The median rent in Troy is $1,501/mo as of July 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 31% of local median household income ($58,477/yr), Troy ranks as moderate compared to the national benchmark of 30%. Rents have increased 7.8% over the past year.

FAQ

Frequently asked questions

Is Troy an affordable city for renters?

Troy is considered moderate for renters. At $1,501/mo, rent takes approximately 31% of the local median household income ($58,477/yr). The standard benchmark is 30%. Troy slightly exceeds that threshold, so budgeting carefully matters here.

How much income do you need to rent in Troy?

To keep rent at or below 30% of gross income, you would need to earn at least $60,000/year (~$29/hour full-time) to afford the median rent of $1,501/mo in Troy. The local median household income is $58,477/yr, meaning the typical Troy household falls short of that threshold.

Is rent going up or down in Troy?

Rent in Troy has increased 7.8% over the past year as of July 2026, putting upward pressure on renter budgets.

Which Troy neighborhoods have the lowest rent?

The most affordable ZIP codes in Troy are 12182 ($1,383/mo), and 12180 ($1,524/mo). Citywide, the median rent in Troy is $1,501/mo.

How does Troy rent compare to other cities in New York?

Troy is one of the more affordable cities in New York for rent, ranking #99 out of 126 tracked cities at $1,501/mo.

Which nearby cities are cheaper to rent in than Troy?

Watervliet is nearby and more affordable at $1,471/mo, which is $30 less than Troy.

What percentage of Troy residents rent vs. own?

According to Census data, approximately 62.6% of Troy households are renters, while 37.4% are owner-occupied. With a majority renter population, Troy has a strong rental market.

How does Troy rent compare to the national average?

Troy's median rent of $1,501/mo is $464 (24%) below the US national median of $1,965/mo. Within New York, it ranks #99 out of 126 tracked cities.
Income Affordability
31%
MODERATE

At $1,501/mo, rent takes ~31% of Troy's median household income ($58,477/yr). The standard benchmark is 30%.

Troy 31%Benchmark 30%
State income tax4–10.9%
Run the Troy affordability calculator →
Lowest-rent ZIP codes in Troy
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Troy, NY

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