Troy, NY is an affordable place to live with a two bedroom rent of $1,220 compared the US average of $1,430. This city also has a grocery cost index of 101 versus the national average of 100. The city is full of local companies and resources. For example, Troy Innovation Garage is a startup incubator and business accelerator that provides services to entrepreneurs in the area. Additionally, there is the Tech Valley Center of Gravity which works with students and professionals in STEM fields by providing access to equipment, facilities, mentorship and events. Lastly, there are many corporate employers in Troy such as Green Island Power Authority and Siemon Company that provide jobs for people living in the city.
Troy has an unemployment rate of 7.2%. The US average is 6.0%.
Troy has seen the job market increase by 0.5% over the last year. Future job growth over the next ten years is predicted to be 24.0%, which is lower than the US average of 33.5%.
Tax Rates for Troy
- The Sales Tax Rate for Troy is 8.0%. The US average is 7.3%.
- The Income Tax Rate for Troy is 6.5%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Troy
- The average income of a Troy resident is $21,635 a year. The US average is $28,555 a year.
- The Median household income of a Troy resident is $50,304 a year. The US average is $69,021 a year.