Forgivable loan
Rensselaer County Housing Resources Small Cities Homebuyer Program
First-time homebuyers · Income limits · Single Family
Down payment assistance · Rensselaer County
Buying a home in Troy, NY
2 Troy programs and 3 statewide.Troy has 2 programs of its own, and 3 statewide. Here is what each one offers, what the local market looks like, and who near you can walk you through it.
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Only for Troy addresses
Troy’s own programs
Deferred second loan
City of Troy's Homebuyer Incentive Program (HIP)
First-time homebuyers · Income limits · Single-family detached · 2-family owner-occupied
The Troy marketThe Troy housing market
Kinds of homes hereWhat’s for sale here, and what the programs accept
Kinds of homes in Troy
- 24.4% single-familysingle-family
- 4.1% townhousetownhouse
- 45.9% 2–4 units2–4 units
- 25.2% 5+ unitscondo & apartment buildings (5+ units)
- 0.5% mobile & othermobile home & other
About condos. None of Troy’s 2 local and county programs list condos as eligible. Rensselaer County Housing Resources Small Cities Homebuyer Program lists single family. City of Troy's Homebuyer Incentive Program (HIP) lists single-family detached and 2-family owner-occupied.
U.S. Census Bureau, American Community Survey 2024 5-year (2020–2024). Table B25024.
When Troy’s homes were built
pre-19401970s2020+
82.7%
of Troy homes were built before 1980. Pre-1978 homes come with a federal lead-paint disclosure.of homes were built before 1980. A home built before 1978 comes with a federal lead-paint disclosure, and some programs require an inspection.
U.S. Census Bureau, American Community Survey 2024 5-year (2020–2024). Table B25034.
$123,100
County area median income, 4 people (HUD)HUD area median income, Rensselaer County, 4-person household (2026)
$58,477
Troy median household incomeMedian household income in Troy (Census, 2024)
11 of the 67 programs here set their income limit as a share of Rensselaer County’s area median income, adjusted for household size. See the published limits for Rensselaer County
Free help nearbyFree help near Troy
4 HUD-approved counseling agencies within 15 miles4 HUD-approved housing counseling agencies within 15 miles
2 programs here ask for a homebuyer class first. Create a free account to see who’s near you and pick one.All 2 local programs here ask for a homebuyer class. A HUD-approved counselor teaches it and can walk you through your options. Create a free account to see who’s near you and pick one.
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Across New York and nationwide
65 statewide & federal programs3 statewide programs, plus federal options
Troy questions
Does Troy have its own down payment program?
Yes, 2: Rensselaer County Housing Resources Small Cities Homebuyer Program and City of Troy's Homebuyer Incentive Program (HIP). Each is for homes inside Troy.
Can I use assistance on a condo in Troy?
None of Troy’s 2 local and county programs list condos as eligible. Rensselaer County Housing Resources Small Cities Homebuyer Program lists single family. City of Troy's Homebuyer Incentive Program (HIP) lists single-family detached and 2-family owner-occupied. Each program’s page lists the kinds of homes it accepts, and the agency confirms it for the home you choose.
What is the income limit in Rensselaer County?
Each program sets its own. 11 of the programs here set theirs as a share of HUD’s area median income for Rensselaer County, adjusted for household size. HUD publishes the median each year; the 2026 figure is shown above and on the published limits page.
Where can I take a homebuyer class near Troy?
HUD-approved housing counseling agencies teach homebuyer classes, and 4 agencies are within 15 miles of Troy. Create a free account and take the 90-second match to see the ones near you.
ZIP codes
12179 · 12180 · 12181 · 12182 · 12183
Nearby in Rensselaer
Sources
Sources: agency sites (July–September 2026), Census ACS 2024 5-year, HUD FY2026, HUD counseling list. Hey Prescott is not a lender.Programs: Hey Prescott catalog of 2,000+ programs, each verified with its agency (July–September 2026). Market: U.S. Census Bureau, American Community Survey 2024 5-year (2020–2024). Income: HUD FY2026 income limits. Counselors: HUD list of approved housing counseling agencies. Hey Prescott is not a lender.