| Index | Troy | New York | National |
| Cost of living | 102 | 121 | 100 |
| Groceries | 105 | 106 | 100 |
| Health care | 108 | 110 | 100 |
| Housing | 88 | 144 | 100 |
| Transportation | 111 | 113 | 100 |
| Utilities | 114 | 112 | 100 |
| Lifestyle & Entertainment | 108 | 111 | 100 |
| Household Items | 103 | 106 | 100 |
| Education & Childcare | 112 | 118 | 100 |
The cost of living in Troy affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Troy is 102, which is 2% higher than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.
The cost of living in Troy closely mirrors the national average in comparison to other cities nationwide. Essential items such as groceries, houshold expenses, health care and utilities are priced at a level consistent with similar urban areas. This means that residents of Troy can anticipate that their daily expenses will remain reasonably in line with those of an average city, contributing to a manageable cost of living.
Is Troy affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Troy, for instance, where the median home price falls 18.2% lower than the national average, and monthly rent rates are 2.4% higher than usual. Additionally, median income levels contribute to the equation, with Troy flaunting a median household income of $73,958, 9.1% lower than the national norm.
Urbanization: Urban areas with extensive amenities and job opportunities tend to have a higher cost of living due to increased demand for services and relocation, resulting in higher home prices and higher rents. Less densely populated rural areas, or areas with less demand tend to have fewer amenities and slower job growth, which results in a lower cost of living.
Transportation: In situations where public transportation is limited or nonexistent, local residents may be required to own and maintain their own vehicles, contributing to an elevated cost of living. Monthly expenditures may encompass fuel costs, insurance premiums, routine vehicle upkeep and possibly lease or financing payments. In Troy, the transportation index is 10.6% higher than the national average.
Taxes: Cities that enforce higher taxes, covering both sales taxes and income taxes, can be a factor contributing to a higher cost of living. Paying more in taxes for everyday essentials like clothing and food inevitably leads to higher expenses. A higher income tax rate can further contribute to an overall elevated cost of living. In Troy, the baseline sales tax rate begins at 4%, and income tax rates start at 4%.
The cost of living data for Troy shown above is based on a U.S. average baseline score of 100, making it easier to compare how far your dollar may go from one city to another. Housing uses U.S. Census home price and rental data, while all remaining values are AI-assisted estimates informed by regional pricing, climate, transportation dynamics, and local economic factors. These scores are best used for directional comparisons between cities.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $117,544 | $9,795 | $2,743 | $3,527 |
| Renters | $52,957 | $4,413 | $1,236 | $1,589 |
| State | General Sales Tax | With Max Surtax |
| New York | 4% | 8.875% |
| State | Income Tax (Low) | Income Tax (High) |
| New York | 4% | 10.9% |
| City | Population | Cost of Living Index | National Avg. |
| Schenectady, NY | 66,726 | 99 | 0.7% |
| Green Island, NY | 2,707 | 100 | 0.3% |
| Scotia, NY | 7,898 | 103 | 3.1% |
| Waterford, NY | 2,222 | 102 | 1.8% |
| Mechanicville, NY | 5,189 | 102 | 1.8% |
| Troy, NY | 50,436 | 102 | 2.2% |
| City | Population | Cost of Living Index | National Avg. |
| Bedford, TX | 50,460 | 106 | 5.9% |
| Downers Grove, IL | 50,391 | 125 | 25.1% |
| Antelope, CA | 50,311 | 136 | 35.9% |
| Azusa, CA | 50,604 | 145 | 45.1% |
| Cuyahoga Falls, OH | 50,241 | 91 | 8.7% |
| Troy, NY | 50,436 | 102 | 2.2% |
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