Median rent is 36% lower in Troy ($1,134/mo vs $1,779/mo). Buying is cheaper in Troy, where the median home runs $192,500 versus $751,700. Households earn more in New York ($79,713 vs $57,688 a year). Taken together, Troy is the more affordable choice with a cost index of 96.6 against 113.0 — about 15% lower overall prices. After adjusting income for local prices, a typical paycheck stretches further in New York, NY.
Quick verdict
Troy is 15% cheaper overall
Cost index: 96.6 in Troy vs 113.0 in New York (US average = 100)
City A
New York, NY
City B
Troy, NY
How much would you need to earn in Troy, NY to maintain your standard of living from New York, NY?
Equivalent salary in Troy, NY
$64,110
You could earn $10,890 less (15% lower) and break even.
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
New York
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
Renters will find significantly cheaper housing in Troy — median rent of $1,134/mo versus $1,779/mo in New York, a 36% difference. Home buyers face a steeper market in New York: the median home is $751,700 versus $192,500 in Troy — 74% more expensive.
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).
New York
Income tax: 10.90%
Sales tax: 4.00%
Troy
Income tax: 10.90%
Sales tax: 4.00%
Air quality data is available for New York (avg AQI 61.0) but not yet for Troy.
Pick Troy if you prioritize lower overall cost of living (index 96.6 vs 113.0).
Pick New York if you prioritize higher median household income ($79,713/yr).
Pick Troy if you prioritize cheaper rent ($1,134/mo median).
Is New York cheaper than Troy?
Troy is cheaper overall, with a cost of living index of 96.6 versus 113.0 (US average = 100). That means prices run about 15% lower in Troy.
How much is rent in New York vs Troy?
Median rent is $1,779/mo in New York, NY and $1,134/mo in Troy, NY. Troy, NY has the lower rent by about 36%.
Which has higher salaries — New York or Troy?
Median household income is $79,713 in New York, NY and $57,688 in Troy, NY. New York, 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 — New York 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 New York income?
To maintain the same purchasing power, a salary of $100,000 in New York, NY is equivalent to roughly $85,481 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