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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
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.
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.
|$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|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Troy HOMES|
|2000 or Newer||2.6|
|1970 - 1999||18.4|
|1940 - 1969||21.7|
|1939 or Older||57.3|
|TYPE OF Troy HOMES|
|Small Apt. Buildings||47.1|
|SIZE OF Troy HOMES|
|5 or more bedrooms||3.75|