Commercial Real Estate Market in Troy, NY
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
339 active listings and 1,838 off-market properties in Troy, NY. Commercial property asks $97/SF to buy and $15.75/SF/Yr to lease.
Market Trends
Troy, NY spans 70.6 square miles in Rensselaer County, New York. Figures below refresh monthly; last updated 30 September 2026.
Office
Office vacancy in Troy, NY runs 19.9% across the Northeast region in 2025, up from 13.1% in 2019.
Vacancy Rate % in Northeast region
Retail
Retail space in Troy, NY asks $91/SF to buy. Vacancy runs 6% across the Northeast region in 2025, little changed from 6% in 2019. Down from a 2020 peak of 7.1%.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Industrial
Industrial vacancy in Troy, NY runs 7.6% across the Northeast region in 2025, up from 5.4% in 2019. Nearly 2.4x the 2021 low of 3.2%.
Vacancy Rate % in Northeast region
Multifamily
Multifamily space in Troy, NY asks $113/SF to buy. Vacancy runs 5.6% across the Northeast region in 2025, up from 4% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 36.5%
- Open space 21.3%
- Mixed use 14.9%
- Civic 8.3%
- Commercial 4.4%
- Industrial 2.1%
Largest Zones share of zoned land by district
Single Family
Conservation Recreation
Two Family
Multi Family
Campus Institutional
Single Family (SF)
SF and TF Use Districts and may not exceed 24 square feet of sign area in all other Use Districts. (d) Signs advertising the sale , lease, or rental of the premises upon which they are located, which may include the name of the owner or broker, or any other person interested in the sale or rental of such premises, and signs bearing the word "sold" or "rented…
Market overview
Demographics & Economy
Troy, NY has 73,498 residents in 34,599 households. Density runs 1,041 people per square mile. Median household income here is $69,818 and median gross rent $1,149 a month.
73,498
Population
34,599
Households
2.1
Avg Household Size
35
Median Age
37%
College-Educated
90%
High-School Grad
70.6 sq mi
ZIP Area
1,041
Density / Sq Mi
$69,818
Median Household Income
$43,060
Median Earnings
$1,149
Median Rent
$221,662
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Watervliet | $128 (county avg) | $7.60 |
| Newtonville | $128 (county avg) | $17.77 |
| Dunsbach Ferry | $128 (county avg) | $7.44 |
| Albany | $128 (county avg) | $14.43 |
Commercial property in Troy, NY asks $97/SF. The 4 bordering markets run from $128/SF in Watervliet to $128/SF in Watervliet, and the city sits below their $128/SF median.
Frequently Asked Questions
What is the average price per square foot for commercial property in Troy?
Commercial property in Troy, NY asks an average of $97 per square foot. The 6 most recent recorded sales traded at a median of $76/SF, so asking sits 28% above the achieved median. Multifamily carries the highest asking price at $113/SF.
How much does it cost to lease commercial space in Troy?
Asking lease rates in Troy, NY average $15.75 per square foot per year.
How does Troy compare to nearby markets on price?
Troy, NY asks $97/SF against $128/SF in Watervliet, $128/SF in Newtonville, $128/SF in Dunsbach Ferry and $128/SF in Albany.
Where does Realmo's Troy market data come from?
Realmo compiles Troy, NY figures from 7 recent recorded sales, 257 active sale listings, 82 active lease listings, 1,838 tracked off-market properties, the current Troy zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 257 active for-sale and 82 active for-lease listings in Troy, NY. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 6,704 zoned acres across 12 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 30 September 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Northeast region level, retail vacancy is reported at Northeast region level and industrial vacancy is reported at Northeast region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 30 September 2026 · report a data issue
