Rent to own Homes in Troy, NY
Delicious food! In Troy, you can delight in some delicious seafood at Obs Fish Fry, or try Testos or Moscatiello's for an Italian treat.
Troy, NY is a great place for affordable rent-to-own homes! With a median household income of over $48,834 and a median rent of $964, the Troy, NY rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Troy, NY. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
More Troy, NY Property Resources
Rent to own Homes in Cities Near Troy, NY
- Albany
- Alcove
- Athens
- Austerlitz
- Averill Park
- Berlin
- Castleton-on-Hudson
- Chatham
- Clarksville
- Claverack
- Claverack-Red Mills
- Clifton Knolls Mill Creek
- Coeymans Hollow
- Colonie
- Coxsackie
- Craryville
- Cropseyville
- Earlton
- East Chatham
- East Greenbush
- East Nassau
- Feura Bush
- Glenmont
- Guilderland
- Hampton Manor
- Johnsonville
- Lanesborough
- Latham
- Lorenz Park
- Malden Bridge
- Melrose
- Menands
- Nassau
- New Baltimore
- Niverville
- Philmont
- Pittsfield
- Richmond
- Rotterdam
- Schenectady
- Stephentown
- Troy
- Valley Falls
- Waterford
- Watervliet
- Westerlo
- Westmere
- West Sand Lake
- West Stockbridge
- Wynantskill
Neighborhoods in Troy, NY
North Central rent to own homes Pottery District rent to own homes Eastside rent to own homes Downtown Troy rent to own homes South Central rent to own homes Northern River Street Historic District rent to own homes Osgood rent to own homes Central Troy Historic District rent to own homes Hillside rent to own homes South Troy rent to own homesPopular Zip Codes in Troy, NY
12181 rent to own homesBuying a Home in Troy, NY
Troy, NY is seeing rapid growth and Troy, NY's' housing market remains optimal with an average home price that is -31% below the 2024 national average. Troy, NY is part of Rensselaer county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2024 for county Rensselaer is 2.06% which is above the national average, which is 0.99%.
Median Home Price in Troy, NY
Median Rent in Troy, NY
Top 11 Reasons to Live in Troy, NY
Small city, or a large town! As part of the metropolitan area that makes up Albany-Schenectady-Troy, it has the advantages of being a small city and part of a large metropolitan area. While in Troy, visit the oldest restaurant in the city called Manory's Restaurant.
Historic landmarks! Troy has a great deal of history with much of it focusing on European and Indian aspects. Some of the landmarks include the The Troy Savings Bank Music Hall, famed for its acoustics and an Odell concert organ, is also located here. Enjoy a cup of joe at Illium Cafe before you go in for your show.
Rising home appreciation rates! The popular neighborhoods of Cropseyville, Sycaway and Pleasantdale Melrose are good areas to find rent to own houses. The home appreciation values in these communities are on the increase. Pleasantdale has seen an 85% value in homes, while Cropseyville's and Sycaway's home values have risen by 60% and 80%, respectively.
Affordable housing! The average mortgage is less than $1,400 per month. With 35% of homes owned, there are many rent to own homes available. The average rental price is $550, and you can find some good deals in the areas surrounding Eagle Mills or Tibbits Ave.
A city of older homes! Most homes in Troy are fairly older homes. The average age of a home in Troy is 75 years old. Most homes are single-unit residences. Whether you are looking to rent to own a property or purchase it outright, check out the Washington St. or Pawling Ave. neighborhoods.
High vacancy rate! No need to worry about how difficult it may be to find a house. The vacancy rate is 14%, which is higher than the state's average and the average in the country. To see some good options, take a drive down Brunswick Center or Massachusetts Ave.
A rich history! Due to the city's steel industry and the popularity of steel use in the country, Troy was one of the wealthiest cities in the country during the 19th century. If you want to see what the city looked like back then, visit the 96-acre Central Troy Historic District, which has hundreds of properties in different architectural styles from that time period. Once you're done sightseeing, stop at Brunswick BBQ & Brew for dinner.
Events to see! Troy hosts the biggest Flag Day parade in the country, and rightfully so, since it boasts a large number of veterans buried in one of its cemeteries. Another huge festival is the June River Street Festival, which offers a wide variety of music and arts and crafts in the city. A must is the "Troy Night Out" event that brings together residents once a month to listen to live music, shop, visit different galleries, and try different cuisines offered.
Coffee to get you started! Can't start your day without your cup of joe? Stop by Daily Grind or MochaBlend Espresso Bar to get your morning fix!
Enjoy the nightlife! Visit Daisy Bakers or Bootlegger's on Broadway for a great night out on the town with music, entertainment and dancing.