11 Cheapest Places to Live in New York

4) Troy

Troy is a small city not too far from the state’s capital, Albany. It has a population of just under 50,000 residents with a median age of 29.8 years old. The cost of living index, compared against a national average standard of 100 and a NY state average of 122, is 102. Housing is relatively cheap here, with median home value falling under $147,000. The most common industries in Troy are educational services and retail trade, and the most common jobs are in office and administrative support positions. Troy has several attractions for residents. Not only is it the home of Rensselaer Polytechnic Institute, but there is also a great farmers’ market, a sports stadium, museums, and more. There are also several hospitals and nursing homes in the city, allowing for access to health care and senior support.