Troy, NY—12180
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Troy, NY
As of Oct '25, the median home price in Troy, NY is $294,000, with a year-over-year change of 3.8%. This indicates that home prices in Troy, NY are increasing. According to Zillow, the 1-year price projection is 1.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $294,000 | 3.8% |
| Single Family | $295,000 | 3.9% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $244,000 | 5.2% |
3 Bed | $292,000 | 4.3% |
4 Bed | $334,000 | 4.0% |
| 5 Bed | $363,000 | 4.0% |
% of Housing Stock
Rental Trends — Troy, NY
As of July '25, Rentcast reports the average rent in Troy, NY is $1,540, with a year-over-year rent change of 6.2%. Per bedroom, the median rent as of July '25 in Troy, NY is studios: $1,250, 1-bedrooms: $1,340, 2-bedrooms: $1,720, 3-bedrooms: $1,670, 4-bedrooms: $1,460. The most common rental property sizes in Troy, NY are 2-bedroom and 1-bedroom, accounting for 43.7% and 25.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,450 | $1,540 |
| Studio Rent | $1,140 | $1,250 |
| 1 Bed Rent | $1,300 | $1,340 |
| 2 Bed Rent | $1,500 | $1,720 |
| 3 Bed Rent | $1,600 | $1,670 |
| 4 Bed Rent | $1,500 | $1,460 |
% of Rental Stock
Property Listings — Troy, NY
As of Oct '25, Realtor.com reports that the median days on market for a home in Troy, NY is 45. This is a increase of 11.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 21.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $302,000 | -2.0% |
Listing Count | 131 | -7.0% |
| Listings as % of Homes | 0.4% | -7.0% |
Days on Market | 45 | 11.0% |
Demographics — Troy, NY
As of the latest ACS Survey released in 2023, Troy, NY has a population of 54,100, which has increased by 1.2% over the past 5 years. Troy, NY is a moderately popular place for families, as children make up 16.2% of the population. The area has a moderately educated workforce, with 40.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 54,100 | 1.2% |
% Under 18 | 16.2% | -8.0% |
% Seniors | 14.7% | 9.7% |
% WFH | 12.3% | 215.4% |
% w/ College Degree | 40.1% | 26.5% |
As of the latest ACS Survey released in 2023, Troy, NY is a predominantly white area, with 69.5% of the population identifying as white. The white population has shrunk by 3.5% in the last 5 years. The second most common race or ethnicity in Troy, NY is black, making up 12.4% of the population. Foreign-born residents account for 10.0% of the population in Troy, NY, and this percentage has increased by 47.1% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 69.5% | -3.5% |
% Black | 12.4% | -3.9% |
% Hispanic | 8.0% | 1.3% |
% Asian | 4.9% | 16.7% |
% Foreign Born | 10.0% | 47.1% |
Mortgage and Risk — Troy, NY
According to HUD data as of 2023, there were 747 mortgage originations in Troy, NY, of which 90.0% of loans were conventional mortgages. The average loan-to-value was 60.0%, with 24.0% above 90% LTV (very high). This implies large mortgage risk in Troy, NY. Investor activity is low, as 3.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 747 |
% Conventional Loans | 90.0% |
% Government Loans | 10.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Troy, NY
As of 2024, the percent of homes in Troy, NY under the Section 8 program is 18.7%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 3-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Troy, NY, because HUD payments exceed market rent, while 1-bedroom and 2-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 2,147 |
Total Units Section 8 | 2,147 |
% Rentals under Section 8 | 18.7% |
% Occupied Section 8 | 79.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$110 | $1,300 | $1,190 |
| 2 Bedroom | -$60 | $1,500 | $1,440 |
| 3 Bedroom | $130 | $1,600 | $1,730 |
| 4 Bedroom | $410 | $1,500 | $1,910 |
Affordability — Troy, NY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.5 |
| Median Home Price | $294,000 |
| Median Household Income | $73,800 |