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City · 51,033 residents · Rensselaer County, New York

Troy , New York

In Troy, a typical home is worth $206,500 and typical rent is $1,175 a month. Compared with all of Rensselaer County, typical household income is 33% lower, the typical home value is 20% lower, and the share of households that own their home is 27 points lower.

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  • Typical home value

    $206,500

    20% below the county

    51% below New York

    • Troy
    • Rensselaer
    • New York

  • Typical rent

    $1,175a month

    3% below the county

    28% below New York

    • Troy
    • Rensselaer
    • New York

  • Typical household income

    $58,477a year

    33% below the county

    32% below New York

    • Troy
    • Rensselaer
    • New York

  • Households that own their home

    37%

    27 points below the county

    17 points below New York

    • Troy
    • Rensselaer
    • New York

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$298,947
4.8% more than 12 months ago
Typical rent
$1,473 a month
7.3% more than 12 months ago

From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).

Troy is in Rensselaer County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Rensselaer County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Troy apart

What this place has that others do not, from public data, most unusual first.

  1. 37% of households in Troy own their home, against 65% in Rensselaer County.

  2. The typical household income in Troy is $58,477, 33% less than in Rensselaer County as a whole ($87,915).

  3. The typical home in Troy is worth $206,500, 20% less than in Rensselaer County as a whole ($258,400).

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Troy

What homes there are in Troy, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

Homes here are varied: buildings of 2 to 4 homes are 46% of them, more than in Rensselaer County (22%), and no kind reaches half.

Year built

The typical home in Troy was built before 1940, the oldest group the Census tells apart; 69% of homes date from before 1960.

Homes in Troy are smaller: 43% have 3 bedrooms or more; in Rensselaer County, 57%.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes

The FHA limit for Rensselaer County is high ($541,287): at least 93% of owner-occupied homes in Troy are worth less than $500,000.

Monthly rent with utilities

About 83% of rented homes in Troy cost less than HUD's 2-bedroom fair market rent for Rensselaer County ($1,711).

With a mortgage

$1,774 a month

Rensselaer County: $1,940 a month

Without a mortgage

$685 a month

Rensselaer County: $756 a month

Owners with a mortgage

58%

Rensselaer County: 61%

The typical cost for an owner with a mortgage in Troy is $1,774 a month, less than in Rensselaer County ($1,940); without one, $685.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

Much as in Rensselaer County, the typical home value in Troy rose 38% since 2015–2019.

Much as in Rensselaer County, the typical rent in Troy rose 24% since 2015–2019.

To compare: typical income in Troy rose 28%; the home, +38%; the rent, +24%.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureTroyRensselaer CountyNew YorkUnited States
Rental vacancy 7.6%5.8%3.8%5.5%
Homeowner vacancy Unreliable estimate1.0%1.1%0.9%
More than one person per room 1.8%1.6%5.3%3.4%
People per household 2.132.302.492.53
Drive alone 61%72%49%69%
Carpool 9%7%6%9%
Public transit 5%2%22%3%
Walk or bike 9%3%6%3%
Work from home 15%14%15%15%
Other means 2%1%2%2%
Typical commute 10 to 19 minutes20 to 29 minutes20 to 29 minutes20 to 29 minutes

In Troy, the rental vacancy rate is 7.6%; in Rensselaer County, 5.8%.

More than one person per room: that is how 1.8% of households in Troy live, near the figure in Rensselaer County (1.6%).

Fewer people live in each home here: 2.13 on average, against 2.30 in Rensselaer County.

In Troy, 9% of workers walk or bike to work; in Rensselaer County, 3%.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Troy?

A typical home costs more than the typical income allows

We start with a typical home in Troy, worth $206,500, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 40% of the typical household income in Troy, which is $58,477 a year. For that payment to be 28% of income, a household would need to earn about $83,431 a year.

The calculator's FHA and conventional loan limits are those of all of Rensselaer County.

Your numbers

Local data
$

Starts at the typical home value in Troy. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $7,228 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$1,947

at 7.18% · 30 years

Loan amount
$202,759
Total interest
$291,723
Paid off in
November 2056

Includes $3,487 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $1,364 a month

  • Tight

    $1,364 to $1,754 a month

  • Hard

    more than $1,754 a month

    Your payment · 40%

Compared with the typical household income in Troy ($58,477 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$1,947
Principal & interest$1,374
Property tax$396
Home insurance$86
FHA mortgage insurance (MIP)$91

You need at least $7,228 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Troy and Rensselaer County

Troy is in Rensselaer County, New York. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Troy's own numbers

Typical home value
$206,500
Typical monthly rent
$1,175
Typical yearly household income
$58,477
Households that own their home
37%
Effective property tax rate
2.3%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Rensselaer County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,711
Price change over 5 years (FHFA)
+51%
Homes in a high flood-risk zone
0.3%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Rensselaer County.

Everything about Rensselaer County

Buying

Buying a home in Troy

A typical home in Troy is worth $206,500: 20% below the county and 51% below New York. With the typical household income in Troy ($58,477 a year), a typical home costs 3.5 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Troy 3.5 years
  • Rensselaer 2.9 years
  • New York 4.9 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Rensselaer County

According to FHFA’s house price index, home prices in Rensselaer County rose 76% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Rensselaer County.

Period County New York U.S.
Last year (2025) +5.1% +6.0% +2.9%
5 years (2020–2025) +51% +52% +47%
10 years (2015–2025) +76% +86% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Troy next to Rensselaer County, New York and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Troy $206,500
  • Rensselaer $258,400
  • New York $423,800
  • United States $332,700
Typical monthly rent
  • Troy $1,175
  • Rensselaer $1,217
  • New York $1,621
  • United States $1,413
Typical yearly household income
  • Troy $58,477
  • Rensselaer $87,915
  • New York $85,974
  • United States $80,734
See the full table
Troy next to Rensselaer County and New York
Measure Troy Rensselaer County New York U.S.
Typical home value $206,500 $258,400 $423,800 $332,700
Typical monthly rent $1,175 $1,217 $1,621 $1,413
Typical yearly household income $58,477 $87,915 $85,974 $80,734
Households that own their home 37% 65% 54% 65%
Typical yearly property tax $4,749 $5,301 $6,582 $3,119
Effective property tax rate 2.3% 2.05% 1.55% 0.94%
Renters with high rent for their income 53% 47% 52% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Rensselaer County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Troy

For a typical $206,500 home in Troy, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Troy's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $1,947a month

    Least cash to close
    Down payment
    $7,228
    Cash to close
    $13,423
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $91

  • Conventional, 5% down $1,909a month

    Down payment
    $10,325
    Cash to close
    $16,520
    Rate
    7.18%
    Mortgage insurance
    PMI · $98

  • Conventional, 20% down, no PMI $1,601a month

    Down payment
    $41,300
    Cash to close
    $47,495
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $1,792a month

    Down payment
    $30,975
    Cash to close
    $37,170
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Troy and for Rensselaer County.

Property tax

Effective rate in Troy

2.3%of the home’s value each year

$4,749 a year for the typical owner in Troy.

  • Troy 2.3%
  • Rensselaer 2.05%
  • New York 1.55%

What New York publishes Basic STAR school tax relief (New York State Department of Taxation and Finance)

Exemptions and deadlines in New York

Flood risk in Rensselaer County

FEMA does not publish these numbers by city: they are for all of Rensselaer County.

Homes in the high-risk zone
0.3%
143
Of those, with NFIP insurance
—
County New York U.S.
Homes in the high-risk zone 0.3% 2% 3.5%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Troy

Typical rent in Troy is $1,175 a month: 3% below the county. In Troy, 53% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Rensselaer County, by unit size. To pay the 2-bedroom one ($1,711 a month) without spending more than 30% of your income, you would need to earn $32.90 an hour working full time.

HUD fair market rent for all of Rensselaer County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $1,238 $23.81 $49,520
1 bedroom $1,425 $27.40 $57,000
2 bedrooms $1,711 $32.90 $68,440
3 bedrooms $2,039 $39.21 $81,560
4 bedrooms $2,249 $43.25 $89,960

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Troy

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Troy has 2 ZIP codes with their own.

For 2 bedrooms it runs from $1,540 in 12182 to $1,710 in 12180.

None is above the fair market rent for Rensselaer County ($1,711).

  • 12180 $1,710$2,040
  • 12182 $1,540$1,840

2 of these ZIP codes cross the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Troy when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Low-income apartments

Low-income apartments in Troy

HUD lists 15 buildings with rents for lower incomes in Troy. These are the largest.

  • John F Kennedy Towers Senior Housing 2100 6th Ave, Troy 12180 135 low-income homes · 1 bd: 104 · 2 bd: 31 · In service since 2004 · For older adults, people with disabilities
  • O'neil Apartments 2121 6th Ave, Troy 12180 123 homes, 121 low-income · 1 bd: 122 · 2 bd: 1 · In service since 2013 · For older adults (518) 272-1425
  • Burns Apartments 720 Federal St, Troy 12180 100 homes, 99 low-income · For older adults (518) 272-1434
  • Lansingburgh Apartments 41 114th St, Troy 12182 96 homes, 95 low-income · For older adults (518) 235-9388
  • Monument Square Apts 2 1st St, Troy 12180 89 low-income homes · In service since 2012 · For older adults (518) 272-2646

See all 26 buildings in Rensselaer County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Troy

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

There is 1 HUD-approved agency with an office in Rensselaer County; none says it serves in Spanish.

A grandmother pushes her grandson on a playground swing.

HUD counseling is free or low-cost

Assistance programs in Troy

No down payment, repair or rent-help program on our list is for Troy or Rensselaer County. The ones below are statewide in New York: they work in Troy the same as in the rest of the state.

Which programs do I qualify for? All programs in New York

Housing counselors near Troy

The HUD-approved agencies closest to the center of Troy, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Troy Rehabilitation and Improvement Program

    415 River St Ste 2, Troy · 1 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 6 more
    (518) 690-0020

  • Affordable Housing Partnership

    255 Orange St Ste 105, Albany · 7 miles away · Spanish

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 6 more
    (518) 434-1730

  • BETTER COMMUNITY NEIGHBORHOODS, INC. (formerly Better Neighborhoods, Inc.)

    816 Union St, Schenectady · 14 miles away · Spanish

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 4 more
    (518) 372-7616

Every agency in Rensselaer County All counseling agencies in New York

Help in Spanish near Troy

2 of the 3 agencies on this list say they serve in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Troy

HUD’s record names them for Troy or Rensselaer County. They run public housing or Section 8 vouchers. Ask whether their waiting list is open.

  • Troy Housing Authority Public housing and Section 8 vouchers (518) 273-3600

2 other authorities have an office in Rensselaer County: see the list Source: HUD

Cities

Other cities in Rensselaer County

These cities are also in Rensselaer County. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Rensselaer County Housing in New York

Nearby cities

The cities closest to Troy, with the typical home value.

Neighboring counties

If Rensselaer County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Troy.

All guides
A family roasts marshmallows over a campfire at a forest campsite.

Questions

Housing questions about Troy

Short answers with the numbers for Troy and all of Rensselaer County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Troy?

The typical home value in Troy is $206,500, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Rensselaer County it is $258,400.

How much does it cost to rent in Troy?

Typical rent in Troy is $1,175 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Rensselaer County is $1,711.

What is the FHA loan limit in Troy?

Troy uses the FHA limit for all of Rensselaer County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.

How much property tax do owners pay in Troy?

The typical homeowner in Troy pays $4,749 a year, according to the U.S. Census Bureau. That is 2.3% of the home’s value; in Rensselaer County, the rate is 2.05%.

Where can I find free help to buy or rent in Troy?

There is 1 HUD-approved counseling agency with an office in Rensselaer County. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).