Cost of Living in Troy
Troy's cost of living runs genuinely below New York's statewide average on housing and rent, with New York's own graduated state income tax applying fully but no separate local income tax.
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Learn moreGenuinely affordable housing and rent
Troy's average home value ($255,746, up 5.1% year-over-year) runs roughly 51% below New York's statewide average; median rent ($1,331) runs a real 34% below the national median.
New York's state income tax applies, but no local add-on
New York's real, graduated 2026 state income tax runs 3.9% to 10.9%, but Troy itself levies NO separate local income tax -- unlike New York City and Yonkers.
A genuinely middle property tax position
Troy's median effective property tax rate (1.39%) runs above the national median (1.02%) but below New York's own statewide median (1.90%).
Key takeaways
- Housing and rent both run genuinely below New York's statewide/national averages.
- New York's graduated state income tax (3.9%-10.9%) applies, but Troy levies no local income tax.
- Troy's property tax rate runs in a genuinely middle position -- above the national median, below the NY statewide median.
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