New Data Tells The Story of Troy

Vol. III, No. 242 - The Census Bureau releases new American Community Survey data for Troy

Troy has changed in steady, important ways over the past twelve years, and new data gives a clearer picture of where the community stands. The latest 2024 American Community Survey data released earlier this week shows shifts in age, income, poverty, and housing that shape everyday life here.

Troy’s population grew from just over 25,000 residents in 2013 to 26,716 in 2024. That growth wasn’t linear, but more people continue to choose Troy as home. The median age now sits just under 38, a slight dip that suggests the city is both holding on to younger residents and attracting families even as many places age.

The share of residents under 18 has risen from about 23.5% to more than 25%, while those 65 and older increased from roughly 14% to about 16.5%. Troy now has more children and more older adults, a mix that stretches local systems—schools, childcare, health care, senior services, and public spaces—across generations.

Income has climbed over the decade. Per‑person income rose from roughly $24,000 to over $41,000, while median household income increased from the upper‑$40,000s to close to $68,830. Many households are better off, yet not everyone has shared that progress. Poverty dropped below 9% in 2021 but climbed back to 12.6% by 2024, signaling that higher wages alone do not guarantee stability.

Housing costs reflect these pressures. The median monthly cost rose from under $800 to just over $1,050—up more than 30% in twelve years. Homeownership increased from about 60% to 65%, suggesting stability for many, but also tougher choices for renters and first‑time buyers.

The share of households making under $20,000 fell from 19% to 13%, while those earning above $100,000 grew from 13% to over 32%. That widening spread points to a more polarized local economy, influencing what kinds of homes, services, and amenities take root.

Troy is now slightly larger, younger, and wealthier overall—but also more divided between households doing well and those struggling to keep up. As costs rise and demographics shift, the data invites reflection rather than conclusion. These numbers are a common starting point for residents, local leaders, businesses, and nonprofits to ask together: how do we invest in housing, opportunity, and belonging so that growth benefits everyone?

Announcing our January Community Survey!

Every other month, this publication takes time to ask our readers how they feel about the happenings in their hometown! What are the challenges? What are the opportunities? Is your hometown headed in the right direction? Our survey is the easiest way for you to express your thoughts. Next month, this publication will report out on the results.

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