Buffalo is home to more than 1.1 million people, making it the second-largest metropolitan area in New York State. Historically, manufacturing was the driving force of Buffalo’s economy, with steel factories and auto parts suppliers having a particularly strong presence. However, as in much of upstate New York, Buffalo’s economy has undergone significant restructuring over the past few decades, with steep job losses in manufacturing offset by growth in the service sector. While manufacturing still accounts for a slightly above-average share of employment in the region, the education and health sector—which includes the area’s many colleges and universities—has become increasingly important. Trade with Canada also plays a key role in the local economy. After decades of decline, the area’s population has stabilized and the region has seen moderate job growth since the Great Recession.
|Buffalo||Rochester*||Syracuse*||New York State||USA|
|Pop growth, 10-year change1||-0.5%||-0.4%||-1.3%||1.7%||7.6%|
|Job growth, 5-year change1||3.3%||3.5%||2.4%||8.0%||9.3%|
|Median household income2||$55,000||$56,000||$56,000||$64,000||$60,000|
|Median home price2||$145,000||$140,000||$130,000||$300,000||$200,000|
|Pop share age 25+ with BA+2||32.5%||34.1%||31.8%||36.0%||32.0%|