Binghamton Metro Area

Binghamton is located in the Southern Tier region of New York State near the Pennsylvania border, and the metropolitan area is home to roughly 250,000 people. After years of decline, the Binghamton economy has only recently begun to stabilize following the Great Recession. Though manufacturing remains a key sector for the region, Binghamton has lost close to 70 percent of its manufacturing base since 1990—one of the largest declines for any metropolitan area in the nation. As manufacturing has waned and the economy has begun to restructure, the education-and-health and leisure-and-hospitality sectors have become increasingly important. Binghamton University has become the region’s economic centerpiece and has helped stabilize an otherwise struggling area.

Economic and Demographic Trends
Binghamton Ithaca* Elmira* New York State USA
Population1 240,000 103,000 84,000 19,542,000 327,167,000
Pop growth, 10-year change1 -4.9% 2.4% -4.8% 1.7% 7.6%
GDP, billions2 $10 $5 $3 $1,598 $19,485
Job growth, 5-year change1 -1.5% 3.9% -3.5% 8.0% 9.3%
Median household income2 $50,000 $57,000 $50,000 $64,000 $60,000
Median home price2 $109,000 $200,000 $100,000 $300,000 $200,000
Pop share age 25+ with BA+2 26.8% 52.2% 23.9% 36.0% 32.0%

1 2018

2 2017

* Neighboring Metros

Sources: U.S. Census Bureau; U.S. Bureau of Labor Statistics; U.S. Bureau of Economic Analysis; IPUMS USA-University of Minnesota. Data retrieved through American FactFinder, Moody's, or directly from source.

Reports & Analysis
Binghamton Metro Economic Indicators (detailed data and timely updates)
Early Benchmarked Employment Data (Sep 3, 2020)
Finally, Some Signs of Improvement in the Regional Economy (Jun 16, 2020)
New York Fed Surveys: Business Activity in the Region Sees Historic Plunge in April (Apr 16, 2020)
Businesses in the Tri-State Region Struggling to Weather the Coronavirus Outbreak (Mar 30, 2020)
Binghamton Regional Household Debt & Credit Snapshot (data in Excel) (Q4 2018)
New York Household Debt & Credit Snapshot (Q4 2018)
Jaison Abel’s January 2020 Briefing on the Regional Economy with a Focus on Central New York
Press Briefing on Economic Conditions in the Region (Dec 17, 2019 Webcast)
Growth Has Slowed across the Region (Dec 17, 2019)
New York State’s Community Colleges are Successfully Partnering with Employers (Nov 14, 2018)