Albany, NY vs Troy, NY

Albany, NY and Troy, NY have a very similar cost of living, with only a 4.5% difference in their overall index. Albany scores 88 while Troy scores 85 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

On the housing front, median rent in Albany is $1,178/month compared to $1,134/month in Troy — a 4% difference. Home values follow the same pattern: Troy is more affordable at $192,500 median vs $223,000.

Median household income in Albany is $59,485 compared to $57,688 in Troy (+3.1%). The higher salaries in Albany partially offset the cost difference, but don't fully close the gap. Looking at affordability, residents of Albany spend roughly 23.8% of their income on rent, more than the 23.6% in Troy.