Troy, NY Local Data & Statistics

State: NY

Total population: 51,033 Household income: $58,477 Rent: $1,175

Overview

Total population

51,033

Rent

$1,175

Year built

1938

Household income

$58,477

Per capita income

$35,237

Poverty rate

23.4%

Unemployment rate

3.9%

Household size

2.1 persons

Rent over 30% of income

50.7%

Note: Rent, income, and year built are shown as median values, while household size is shown as an average (see explanations below).

Data are sourced from the American Community Survey (ACS) 5-Year Estimates, 2024 release — the latest dataset currently available, with the exception of the unemployment rate, which is sourced from the Bureau of Labor Statistics (BLS). ACS 5-year estimates are published annually, about 6–12 months after the end of each reference year.

Demographics

State

New York

Total population

51,033

Adults over 25

32,474

Total households

21,265

Household size

2.1 persons

Note: Rent, income, and year built are shown as median values, while household size is shown as an average (see explanations below).

Income & Poverty

Household income

$58,477

Per capita income

$35,237

Poverty rate

23.4%

Unemployment rate

3.9%

Rent over 30% of income

50.7%

Note: Rent, income, and year built are shown as median values, while household size is shown as an average (see explanations below).

Housing

Rent

$1,175

Year built

1938

Households that rent

62.6%

Households that own

37.4%

Rooms per home (all homes)

5.1

Note: Rent, income, and year built are shown as median values, while household size is shown as an average (see explanations below).

Race

White

63%

Black

16.7%

Asian

Two or more races

11.4%

Note: Rent, income, and year built are shown as median values, while household size is shown as an average (see explanations below).

Ethnicity

Hispanic or Latino

10.3%

Not Hispanic or Latino

89.7%

Note: Rent, income, and year built are shown as median values, while household size is shown as an average (see explanations below).

Commute

Commute rate

85.5%

Commute time to work

21 mins

Work from home

14.5%

Note: Rent, income, and year built are shown as median values, while household size is shown as an average (see explanations below).

Education

Less than high school

24.9%

High school graduate or GED

23.9%

Some college or associate degree

13.9%

Bachelor’s degree or higher

37.3%

Note: Rent, income, and year built are shown as median values, while household size is shown as an average (see explanations below).

Comparison of Troy, NY with: New York State United States

Troy, NY

Total population51,033

Rent$1,175

Year built1938

Household income$58,477

Per capita income$35,237

Poverty rate23.4%

Unemployment rate3.9%

New York State

Total population19,852,366

Rent$1,621

Year built1959

Household income$85,974

Per capita income$50,712

Poverty rate14%

Unemployment rate4.3%

United States

Total population334,922,499

Rent$1,413

Year built1980

Household income$80,734

Per capita income$44,673

Poverty rate12.5%

Unemployment rate4%

Metric	CityTroy, NY	StateNew York	CountryUnited States
Total population	51,033	19,852,366	334,922,499
Rent	$1,175	$1,621	$1,413
Year built	1938	1959	1980
Household income	$58,477	$85,974	$80,734
Per capita income	$35,237	$50,712	$44,673
Poverty rate	23.4%	14%	12.5%
Unemployment rate	3.9%	4.3%	4%

View the complete comparison of Troy, NY, New York and United States →

Summary for Troy, NY

Troy is located in New York.

Rent & Income

In Troy, the typical monthly rent is $1,175 and the typical household income is $58,477. Rent here is lower than in both New York and the U.S., and household income is also lower than in both. The estimated poverty rate is 23.4%, which is higher than in both New York and national.

Housing & Affordability

Renters make up about 62.6% of households, making this a predominantly renter area. About 50.7% of renters spend more than 30% of their income on housing, indicating high cost burden.

Education & Employment

Educational attainment is high, with about 37.3% of adults holding a bachelor’s degree or higher. The local unemployment rate is 3.9%, which is lower than New York and similar to the national rate.

Troy, NY — Rent vs Household Income

Troy, NY — Poverty vs Unemployment

How Troy, NY compares in New York State (13 places)

Metric	This place	Rank	Starts from	Statewide range
Rent	$1,175	6 / 13	from lower rent	$951 – $2,269
Household income	$58,477	8 / 13	from higher income	$47,213 – $110,763
Poverty rate	23.4%	8 / 13	from lower poverty	10.1% – 28.8%
Unemployment rate	3.9%	7 / 13	from lower unemployment	2.8% – 5.2%

Rankings are calculated among cities and communities in New York State with total population > 50,000 (year 2024).

Detailed Ranking Explanation for Troy, NY

Rent

Troy ranks 6th out of 13 large places in New York for rent. Statewide rents range from $951 in Utica, NY to $2,269 in White Plains, NY.

Household income

For median household income, Troy is ranked 8th out of 13 large areas. Statewide incomes span from $47,213 in Rochester, NY to $110,763 in White Plains, NY.

Poverty rate

In poverty comparisons, Troy ranks 8th out of 13 large places. Statewide rates vary from 10.1% in New Rochelle, NY to 28.8% in Syracuse, NY.

Unemployment rate

In terms of unemployment, Troy is ranked 7th out of 13 major areas. Across New York, rates go from 2.8% in White Plains, NY up to 5.2% in New York, NY.

💰 Rent in Troy, NY (with Utilities)

Estimated Monthly Rent: $1,175 ℹ️ What’s Included:
✅ Base rent, electricity, gas, water/sewer, and heating fuels
❌ Not included: internet, cable TV, renter's insurance, parking

💡 What does this rent estimate mean?

Explanation: This estimate shows what renters typically pay each month for housing, including the apartment or home and essential utilities such as heat, water, and electricity. Even when utilities are billed separately, an estimated average cost for utilities is included, in line with the U.S. Census Bureau’s (ACS) definition of gross rent.

Included in this number: Rent plus electricity, gas, water/sewer, and heating fuel.

Not included: Internet, cable, parking, renter’s insurance, or furniture rental.

Note: This cost does not depend on the number of people living in the home.

👨‍👧‍👦 Household Income in Troy, NY

Annual Household Income: $58,477

💡 What does Household Income mean?

Definition: This represents the middle value of all household incomes in this area — half of households earn less, and half earn more.

Includes: wages, salaries, self-employment income, Social Security, pensions, investments, unemployment, public assistance, and rental income.

Does NOT include: capital gains, non-cash benefits (like food stamps), or tax refunds.

Household = any group of people (or a single person) living in the same housing unit.

Example: A couple earning $40,000 and $30,000 together have a household income of $70,000. If that's in the middle of all local incomes, it's the value shown here.

📉 Poverty Rate in Troy, NY

Estimated Rate: 23.4%

💡 What does the Poverty Rate represent?

Definition: The percentage of people in this area living below the federal poverty threshold.

How it works: The threshold is a dollar amount set by the U.S. Census Bureau that varies by family size and age. If a household's income is below that level, everyone in it is included in this rate.

Example: In a town of 10,000 people, if 1,500 have incomes below the poverty line, the poverty rate is 15%.

Note: This statistic only includes people living in households; it does not count those in student housing, military barracks, or nursing homes.

🏘️ Renter vs. Owner Households in Troy, NY

In Troy, NY, households that rent: 13,321 (62.6%)

📊 What does the renter household percentage reveal about this area?

Household Type	Count	Share
Renter-Occupied	13,321	62.6%
Owner-Occupied	7,944	37.4%

Definition: This is the percentage of households that rent their home rather than own it. It includes only occupied housing units.

Why it matters: Areas with a high share of renter households often have younger populations, higher mobility, and different housing needs compared to mostly owner-occupied areas.

Example: If 65% of homes in an area are renter-occupied, it means 65 out of every 100 households rent their home.

📉 Renters Spending Over 30% of Income on Rent in Troy, NY

In Troy, NY, cost-burdened renters (households spending over 30% of income on housing): 6,752 (50.7%)

🏚️ What Does It Mean When Renters Spend Over 30% of Their Income on Housing?

Household Group	Households	Share
Cost-burdened renters (over 30%)	6,752	50.7%
Other renter households	6,569	49.3%
Total renter households	13,321	100%

Shares are calculated as a percentage of renter households.

This shows how many renters in this area are considered cost-burdened — meaning they spend more than 30% of their income on housing (rent and basic utilities).

It’s a sign that housing might be unaffordable in the area or that lower-income residents may be struggling with rent.

Data comes from the U.S. Census Bureau’s American Community Survey.

📊 Education Levels in Troy, NY

Less than High School: 8,076 people (24.9%)

Includes adults who did not complete high school.

High School Graduate or GED: 7,772 people (23.9%)

Includes adults whose highest education is a high school diploma or GED.

Some College or Associate Degree: 4,509 people (13.9%)

Includes adults who attended college without completing a bachelor’s degree (some college or associate degree).

Bachelor’s Degree or Higher: 12,117 people (37.3%)

Includes adults with a bachelor’s degree or higher (bachelor’s, master’s, professional, or doctoral degree).

👥 Total Adults (25+): 32,474

📊 Unemployment Rate in Troy, NY

Estimated Rate: 3.9%

💡 What does Unemployment Rate mean?

Definition: The unemployment rate is the percentage of people in the labor force who do not have a job but are actively looking for one.

Labor Force = Employed + Unemployed (aged 16+ and actively participating in the workforce).

Formula: (Unemployed ÷ Labor Force) × 100

Does NOT include: People who are retired, students not looking for work, homemakers, or otherwise not seeking employment.

Example: If there are 1000 people in the labor force and 80 are unemployed, then the unemployment rate is 8%.

Similar Population

Burleson, TX50,981 Columbus, IN51,104 Westfield, IN51,109 Mishawaka, IN50,907 Hoffman Estates, IL51,186 Grapevine, TX50,875 Wake Forest, NC51,199 Cuyahoga Falls, OH50,864 Collierville, TN51,212 Delano, CA50,835

ℹ️ Have questions about how these statistics are calculated? See our data methodology & FAQs

Source: ACS 5-Year Estimates (U.S. Census Bureau) — unemployment rate from BLS. Some values are derived metrics.