Valley Falls is a village in Rensselaer County, New York, United States.

In 1871, industrialist James Thompson built a textile mill in the village.

The mill had been vacant for at least 10 years when it went up in flames in the early morning hours on April 22, 2009.

Later, a second rail line from Schaghticoke would follow the Hoosic River past Thompson's Mill, also heading to Johnsonville.

However, with the closing of the Thompson mill, the train no longer stops in Valley Falls.

The racial makeup of the village was 97.35% White, 1.43% Native American, 0.81% Asian, and 0.41% from two or more races.

19.6% of all households were made up of individuals, and 9.5% had someone living alone who was 65 years of age or older.