Median rent is 4% lower in Troy ($1,134/mo vs $1,178/mo). Buying is cheaper in Troy, where the median home runs $192,500 versus $223,000. Households earn more in Albany ($59,485 vs $57,688 a year). Overall, the two cities have a nearly identical cost of living index (96.6).
City A
Albany, NY
City B
Troy, NY
How much would you need to earn in Troy, NY to maintain your standard of living from Albany, NY?
Equivalent salary in Troy, NY
$75,000
Costs are about the same in both cities.
Based on BEA Regional Price Parity (cost index) for each city's metro area. A rough estimate of overall purchasing power, not tax or take-home pay.
Metric
Albany
New York
Troy
New York
👥Population
💰Median Household Income
Annual
🏠Median Gross Rent
Per month
🏡Median Home Value
📊Cost of Living Index
US avg = 100
🔑1BR Fair Market Rent
HUD FMR
🔑2BR Fair Market Rent
HUD FMR
🔑3BR Fair Market Rent
HUD FMR
🌬️Air Quality Index
Lower = cleaner
🏛️Top State Income Tax
Top marginal rate
🧾State Sales Tax
Statewide base rate
🎂Median Age
Years
✓ = better value · Sources: US Census ACS, BEA RPP, HUD FMR, EPA AirNow, Tax Foundation
Median rents are similar in both cities: $1,178/mo in Albany and $1,134/mo in Troy. Median home values are within 14% of each other: $223,000 in Albany and $192,500 in Troy.
1BR Fair Market Rent
2BR Fair Market Rent
BLS OEWS 2023 — metro-level data
New York's top income tax rate is 10.90% versus 10.90% in New York, so Troy is more tax-friendly for high earners. Sales tax is 4.00% in New York and 4.00% in New York; Troy has the lower rate (local add-ons may apply in both).
Albany
Income tax: 10.90%
Sales tax: 4.00%
Troy
Income tax: 10.90%
Sales tax: 4.00%
Air quality data is not yet available for these cities.
Is Albany cheaper than Troy?
Albany is cheaper overall, with a cost of living index of 96.6 versus 96.6 (US average = 100). That means prices run about 0% lower in Albany.
How much is rent in Albany vs Troy?
Median rent is $1,178/mo in Albany, NY and $1,134/mo in Troy, NY. Troy, NY has the lower rent by about 4%.
Which has higher salaries — Albany or Troy?
Median household income is $59,485 in Albany, NY and $57,688 in Troy, NY. Albany, NY has the higher median income. Note that BLS occupational wages in the table above show wages for specific jobs.
Which city has better air quality?
Air quality data is not yet available for one or both cities.
Which has lower taxes — Albany or Troy?
New York's top income tax rate is 10.90% and New York's is 10.90%. Troy, NY has the lower rate.
What salary do I need in Troy to match my Albany income?
To maintain the same purchasing power, a salary of $100,000 in Albany, NY is equivalent to roughly $100,000 in Troy, NY (using the BEA Regional Price Parity ratio). Use the salary calculator above for any income amount.
Data last updated: December 1, 2024 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology