Troy cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexTroyNew YorkNational
Cost of living index98117100
IndexTroyNew YorkNational
Goods & Services index106108100
Groceries index115108100
Health care index102101100
Housing index81145100
Transportation index100102100
Utilities index10097100
A general summary of the cost of living index in Troy, NY is shown above. Compared to the state average of New York the cost of living index in Troy, NY is 98, which is 16% lower than the average in New York and compared to the national average it is 2% lower than. The cost of living index is made up of several categories. These are transportation at 9%, utilities at 10%, goods and services at 33%, housing at 30%, groceries at 13%, and health care at 5%. The bulk of the cost of living index comes from the categories of goods and services and housing. If you look at everyday goods and services they can be a good indicator in a certain city of the general costs of goods there. In Troy, NY goods and services come in at 2% lower than the average in New York and are 6% higher than compared to the nationwide average.
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Did you know?

  • The cost of living in Troy is 16% lower than the New York average.
  • The cost of living in Troy is 2% lower than the national average.
  • The cost of housing in Troy is 19% lower than the national average.
  • New York general sales tax is 21% lower than the national average.
  • New York state income tax is 80% higher than the national average.

Compare Troy, NY Cost of living To Other Cities

Salary Calculator

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Groceries index
Health care index
Housing index
Transportation index
Utilities index
The salary calculator allows you to compare how much your current salary in Troy, NY would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Troy, NY, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Troy, NY salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
If you want to find a good determining factor for the cost of living and the general affordability of housing in Troy, NY, all you must look at is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Troy, NY, the median monthly income is $68,340 for those who own their own homes. Under the standard rule, that income level would allow for $1,594 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $27,271, per the median income in the area. That would allow for renters to spend up to $636 on monthly rental expenses.

New York Sales Tax

StateGeneral Sales TaxWith Max Surtax
New York4%8.875%

New York Income Tax

StateIncome Tax (Low)Income Tax (High)
New York4%8.82%
When assessing the complete cost of living in Troy, NY, the New York income tax and the New York sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The New York maximum surtax is 8.875%, and the New York sales tax is 4%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 4% to 8.82% in New York.

Goods & Services

ItemTroyNational avg.Difference
Haircut $21.50$17.4922.9%
Beauty Salon $43.50$38.1714.0%
Toothpaste $2.34$2.320.8%
Shampoo $0.94$1.017.1%
Movie $13.40$10.7225.0%
Bowling $15.75$13.8613.6%


ItemTroyNational avg.Difference
Ground Beef $4.51$3.9015.6%
Fried Chicken $1.41$1.401.0%
Milk $2.09$1.966.5%
Potatoes $3.99$3.1825.4%
Pizza $10.57$10.391.7%
Beer $9.99$9.238.2%

Health Care

ItemTroyNational avg.Difference
Optometrist $143.00$106.3434.5%
Doctor $114.16$115.250.9%
Dentist $98.00$98.380.4%
Ibuprofen $9.41$9.261.6%
Lipitor $466.00$466.470.1%


ItemTroyNational avg.Difference
Home Price $144,300.00$184,700.0021.9%
Avg. Mortgage Payment $1,474.52$1,273.3215.8%
Apartment Rent $848.00$949.0010.6%


ItemTroyNational avg.Difference
Gasoline $2.74$2.595.7%
Tire Balancing $45.73$48.906.5%


ItemTroyNational avg.Difference
All Electricity$164.78$167.601.7%
Phone $185.38$163.4213.4%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
Schenectady, NY65,55495-5%
Green Island, NY2,61395-5%
Scotia, NY7,73297-3%
Rensselaer, NY9,43597-3%
Watervliet, NY10,20798-2%
Troy, NY49,88198-2%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Saginaw, MI49,89281-19%
Country Club, FL49,8151033%
Bonita Springs, FL49,80711414%
Cerritos, CA49,79716969%
North Bethesda, MD49,97115858%
Troy, NY49,88198-2%
Source: The Troy, NY cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2019.
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