Ithaca Metro Area

With a population just over 100,000, Ithaca is one of the smaller metropolitan areas in New York State. Located in the southern part of the state, Ithaca is home to both Cornell University and Ithaca College, and education has long been the dominant industry in the area economy. As a college town, Ithaca has a fairly young and well-educated population, and that characteristic, combined with the presence of the area’s higher education institutions, has attracted innovative companies to the region. While both employment and population have generally grown at a faster pace than in most other parts of upstate New York, Ithaca is also among the most unequal places in the state.

Economic and Demographic Trends
Ithaca Binghamton* Elmira* New York State USA
Population1 103,000 240,000 84,000 19,542,000 327,167,000
Pop growth, 10-year change1 2.4% -4.9% -4.8% 1.7% 7.6%
GDP, billions2 $5 $10 $3 $1,598 $19,485
Job growth, 5-year change1 3.9% -1.5% -3.5% 8.0% 9.3%
Median household income2 $57,000 $50,000 $50,000 $64,000 $60,000
Median home price2 $200,000 $109,000 $100,000 $300,000 $200,000
Pop share age 25+ with BA+2 52.2% 26.8% 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
Ithaca Economic Indicators (detailed data and timely updates)
Early Benchmarked Employment Data (Sep 3, 2020)
Jason Abel’s Briefing on the New York State Economy During the Pandemic (September 30, 2020)
Tracking the Spread of COVID-19 in the Region (August 27, 2020)
Jason Bram's Briefing on Regional Economic Conditions During the Pandemic (July 14, 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)
Ithaca 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)