Troy, NY Rent To Own Homes

Rent-to-Own Homes in Troy, NY: What You Need to Know

When Henry Hudson sailed up the river that would bear his name, he ended his exploration in 1609 at the location that would be Troy, New York. Troy itself was established as a village in 1791 and incorporated as a city in 1816. Less than a decade later, the opening of the Champlain and Erie Canals turned Troy into a transportation hub. Around the same time, the first higher education institution devoted to science and engineering, now Rensselaer Polytechnic Institute was founded. Troy earned the nickname of "Collar City" when a 19th-century resident invented the first detachable shirt collar.

What are the Best Job Opportunities in Troy, NY?

Health and education dominate the Troy, New York job market. St. Peter's Health Partners, a non-profit medical network, employs 3,558. In second place comes Rensselaer Polytechnic Institute, employing over 1,800 administrators, faculty, and support staff. Rensselaer County, of which Troy is the seat, has a labor force of 1,406. Meanwhile, Regeneron Pharmaceuticals employs 1,325 staff at its local facilities. Stewart's Shops, a chain of convenience stores, utilizes a workforce of over 1,100 in the region.

Troy, NY Weather and Climate

Troy gets a little more rain than the United States on average. An average of 41 inches falls annually here, whereas the U.S. average is 38 inches. The sun shines bright on just 183 days, half the year usually. Snow, on the other hand, falls early and often, accumulating up to 51 inches, by and large, each winter. Low temperatures are chilly at that time of year, remaining in the vicinity of 14ºF. Still, midsummers are pleasant, often topping out at 83ºF.

How Many People Live in Troy, NY?

The residents of Troy number at 49,154. Just over 68% of these are classified as Caucasians, while 17.5% are African-Americans. Asians constitute close to 5% of the total number, and Latinos occupy about 10%. 11.4% of residents are senior citizens over the age of 65. On the opposite side of the age spectrum, 19.6% have not reached adulthood, while infants and toddlers under five account for 5.2%.

The Cost of Living in Troy, NY

Buying a house in Troy, NY is not cost-prohibitive but neither is it a steal. The median price of a single-family residence is $343,697. For those waiting on the American Dream, monthly rents in Troy hover around $1,077 per month. Keeping the lights on and heat working costs about $150 each month on average. Staying healthy involves office visits to doctors that average $110, and dentist exams and cleanings average $94. Annual prescription payments run about $435.