Troy Hourly Wage & Salary 2026
Troy, NY: $31.44/hr median hourly wage, $65,398 median annual salary, cost of living index 129.5, and $15.00/hr minimum wage. Calculate take-home pay with federal and New York taxes.
Troy Hourly Wage Quick Answer
The median hourly wage in Troy, NY is $31.44/hr, equivalent to $65,398 per year at 2,080 work hours. Entry-level pay estimates around $19.49/hr, senior-level pay estimates around $44.64/hr, and the local minimum wage is $15.00/hr.
Median Salary
$65,398
$31.44/hr
Cost of Living
129.5
US avg = 100
Minimum Wage
$15.00
per hour
Unemployment
4.5%
rate
Troy, NY Overview
Population
51,401
Median Salary
$65,398
Average Salary
$73,246
Avg Commute
21 min
Median Home Price
$474,000
Median Rent
$1,922/mo
Job Growth
+2.3%
Sales Tax
4%
Troy is located in New York with a population of 51,401. The median household salary is $65,398 per year ($31.44/hour), which is $6,014 above the national median of $59,384. The average commute time is 21 minutes, and the city has a job growth rate of +2.3%.
Troy Salary by Experience Level (2026)
Wage distribution in Troy, NY based on BLS percentile breakdown of the $65,398 median salary. Entry-level represents 10th–25th percentile; mid-level is the median; senior-level represents 75th–90th percentile.
| Experience Level | Annual Salary | Hourly Wage | Years Exp |
|---|---|---|---|
| Entry-Level | $40,547 | $19.49/hr | 0–2 years |
| Mid-Level (Median) | $65,398 | $31.44/hr | 3–7 years |
| Senior-Level | $92,865 | $44.64/hr | 8–15 years |
| Top 10% (90th Percentile) | $116,408 | $55.96/hr | 15+ years / leadership |
Percentile multipliers (62%, 100%, 142%, 178%) derived from 2024 BLS Occupational Employment and Wage Statistics distribution across all occupations in metro areas. Specific roles vary; see jobs by city for role-specific data.
Troy Paycheck Calculator
Enter your annual salary to see your estimated take-home pay in Troy, NY, after federal, state, and local taxes.
Estimated Annual Take-Home Pay
$49,227
$4,102.28/month · $1,893.36/biweekly · Effective Rate: 24.7%
Biweekly paycheck estimate: this salary equals about $1,893.36 take-home per paycheck after estimated New York and federal taxes. For the 26-paycheck formula, three-paycheck months, and withholding examples, see the Biweekly Paycheck Calculator.
Gross Pay
$65,398
Federal Tax
-$5,668
State Tax
-$4,480
Local Tax
-$1,020
FICA
-$5,003
Net Pay
$49,227
Pay Breakdown
| Item | Monthly | Annual |
|---|---|---|
| Gross Salary | $5,449.83 | $65,398.00 |
| Federal Income Tax | -$472.31 | -$5,667.76 |
| New York State Tax (6.85%) | -$373.31 | -$4,479.76 |
| Local Tax (1.56%) | -$85.02 | -$1,020.21 |
| Social Security (6.2%) | -$337.89 | -$4,054.68 |
| Medicare (1.45%) | -$79.02 | -$948.27 |
| Net Take-Home Pay | $4,102.28 | $49,227.32 |
Salary Comparison: Troy vs Other Cities
See how Troy's median salary and cost of living compare to the national average and similar cities.
| City | Median Salary | COL Index | Adj. Salary |
|---|---|---|---|
| Troy, NY | $65,398 | 129.5 | $50,500 |
| National Average | $59,384 | 100 | $59,384 |
| West Orange, NJ | $65,391 | 124.5 | $52,523 |
| Perth Amboy, NJ | $65,407 | 123.2 | $53,090 |
| Turlock, CA | $65,368 | 151.3 | $43,204 |
| Richfield, MN | $65,364 | 94.3 | $69,315 |
Adjusted salary reflects purchasing power when cost of living is factored in. A higher adjusted salary means your money goes further.
Cost of Living in Troy
Troy's cost of living index is 129.5 (national average = 100). Living in Troy is 29.5% more expensive than the national average.
Median Home Price
$474,000
Median Monthly Rent
$1,922
Annual Rent Cost
$23,064
Your Salary's Purchasing Power
Your $49,227 annual take-home pay in Troy has the purchasing power of approximately $38,013 in an average-cost US area. You would need to earn $84,690 in Troy to match a $65,398 salary in an average-cost city.
Top Industries in Troy
Troy's economy is driven by these key industries. Workers in top industries often earn significantly above the median salary of $65,398.
Salary Tips for Troy Workers
- Negotiate for cost of living. Troy has a cost of living 29.5% above the national average. When negotiating salary, factor in the higher housing and living costs to ensure your real purchasing power stays competitive.
- Maximize pre-tax deductions. With a 6.85% state income tax rate, maximizing 401(k) contributions (up to $24,500 in 2026) and HSA contributions can significantly reduce both your federal and state tax burden.
- Research top industries. Troy's top industries include Finance, Technology, Healthcare. Targeting roles in these sectors can help you earn above the $65,398 median salary.
- Review your W-4 withholding. If you regularly receive large tax refunds, adjust your W-4 to increase your per-paycheck take-home pay instead of giving the government an interest-free loan.
Methodology & Local Economy Data Sources
How we calculate Troy salary data: Our citywide compensation figures aggregate occupation-specific salary data from BLS Occupational Employment and Wage Statistics for the Troy-NY metropolitan statistical area (MSA), weighted by local employment counts. Cost-of-living adjustments use the C2ER Cost of Living Index baseline of 100 (national average), with Troy indexed at 129.5.
- Median salary calculation: weighted average of Troy's occupation-specific medians from BLS OEWS, adjusted for local cost of living. Net result: $65,398 annual median.
- Tax burden reflects New York state income tax (6.85%), plus Troy local tax of 1.56%, sales tax (4%), and federal taxes per IRS 2026 brackets.
- Unemployment rate for Troy: 4.5%, sourced from BLS Local Area Unemployment Statistics (LAUS).
- Top industries: Finance, Technology, Healthcare — based on QCEW employment concentration data.
- Job growth: 2.3% projected through 2034, derived from BLS Employment Projections program for New York.
- Housing context: median home price $474,000, median rent $1,922/mo, sourced from Census American Community Survey 5-year estimates.
Authoritative US data sources for Troy, NY:
- BLS Occupational Employment and Wage Statistics (OEWS) — metropolitan area salary data
- BLS Local Area Unemployment Statistics — Troy unemployment rate
- U.S. Census Bureau — Troy QuickFacts — population, housing, demographics
- BLS Quarterly Census of Employment and Wages (QCEW) — county-level industry employment
- BLS Economy at a Glance — New York — state economic indicators
- U.S. Bureau of Economic Analysis (BEA) — local GDP and personal income data
- BLS Consumer Price Index (CPI-U) — regional inflation tracking
Disclaimer: Salary and cost data are estimates for general guidance. Individual compensation varies by employer, experience, education, negotiation, and skills. Troy's rapidly changing economy can shift these baselines — always verify with current job listings, employer offers, and recent New York labor market reports for the most current figures.
Reviewed by Brazora Monk· Last updated 2026 · BLS & Census data current as of latest releases
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Frequently Asked Questions
What is the hourly wage in Troy, NY?
The median hourly wage in Troy, NY is $31.44 per hour. At a standard 2,080-hour work year, that equals about $65,398 per year. Entry-level workers are estimated around $19.49/hr, while senior-level workers are estimated around $44.64/hr before overtime, bonuses, or benefits.
What is the median salary in Troy, NY?
The median salary in Troy, NY is $65,398 per year, or $31.44 per hour. The average salary is $73,246. This is $6,014 above the national median of $59,384.
What is the cost of living in Troy, NY?
Troy's cost of living index is 129.5 (national average = 100), meaning it is 29.5% more expensive compared to the national average. The median home price is $474,000 and the median monthly rent is $1,922.
What are the best industries in Troy?
The top industries in Troy, NY include Finance, Technology, Healthcare. The city has a job growth rate of 2.3% and an unemployment rate of 4.5%. Workers in these industries often earn above the city's median salary of $65,398.
How does Troy's salary compare to other cities?
Troy's median salary of $65,398 is 10.1% above the national median of $59,384. However, when adjusted for cost of living (index: 129.5), the real purchasing power is approximately $50,500.
What is the minimum wage in Troy, NY?
The minimum wage in Troy, NY is $15.00 per hour. This equals approximately $31,200 per year for a full-time worker (40 hours/week). This is $7.75 above the federal minimum wage of $7.25/hour.