Troy, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Troy Neighborhoods Since 2000




Troy, NY Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Troy Housing Market Information

With a population of 49,906, 19,808 total housing units (homes and apartments), and a median house value of $135,786, house prices in Troy are solidly below the national average.

Duplexes, homes converted to apartments or other small apartment buildings are the single most common housing type in Troy, accounting for 47.08% of the city's housing units. Other types of housing that are prevalent in Troy include single-family detached homes ( 24.27%), large apartment complexes or high rise apartments ( 23.03%), and a few row houses and other attached homes ( 4.90%). This particular housing mix is relatively uncommon and characteristic of cities that are compact and walkable, and which often have a lively downtown.

Troy is dominated by renter-occupied one, two, or no bedrooms apartments. 65.40% of Troy's dwellings are rentals.

The housing in Troy was primarily built before 1939 ( 57.33%), making the housing stock in Troy some of the oldest overall in America, although there is a range of ages of homes in Troy. The next most important housing age is between 1940-1969 ( 21.68%), followed by between 1970-1999 ( 18.40%). There's also some housing in Troy built between 2000 and later ( 2.58%).

Vacant housing appears to be an issue in Troy. Fully 14.91% of the housing stock is classified as vacant. Left unchecked, vacant Troy homes and apartments can be a drag on the real estate market, holding Troy real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Troy Home Appreciation Rates

Real estate appreciation rates in Troy's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.33% during the period.

Over the last year, Troy appreciation rates have trailed the rest of the nation. In the last twelve months, Troy's appreciation rate has been 0.87%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Troy were at 0.82%, which equates to an annual appreciation rate of 3.32%.

Relative to New York, our data show that Troy's latest annual appreciation rate is lower than 70% of the other cities and towns in New York.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Troy differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Troy - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Troy real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$135,786

Troy, NY HOME PRICES

Value Range
> $1,016,000 0.1
$762,001 - $1,016,000 0.6
$508,001 - $762,000 0.6
$406,001 - $508,000 1.6
$305,001 - $406,000 1.7
$203,001 - $305,000 11.0
$102,001 - $203,000 56.1
$51,001 - $102,000 21.6
$0 - $51,000 6.6

Low for NY
Average for Nation

Value Relative to Nation Value Relative to State
56.7971405133013 65.5443322109989

Number Of Homes And Apartments:
19,808

Troy Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NY*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
57.95% 2.69% 6 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,024 / per month

Homeownership Rate

Homeownership
Owners 34.60
Renters 65.40
Vacant 14.91

Housing Market Details

 

Age of Homes

AGE OF Troy HOMES
2000 or Newer 2.6
1970 - 1999 18.4
1940 - 1969 21.7
1939 or Older 57.3

Types of Homes

TYPE OF Troy HOMES
Single-Family 24.3
Townhomes 4.9
Small Apt. Buildings 47.1
Apt. Complexes 23.0
Mobile Homes 0.7
Other 0.0

Home Size

SIZE OF Troy HOMES
No Bedroom 2.15
1 Bedroom 17.06
2 Bedrooms 32.99
3 Bedrooms 33.79
4 Bedrooms 10.26
5 or more bedrooms 3.75