Syracuse Metro Area

Located in Central New York, the Syracuse metropolitan area is home to more than 650,000 people. Growth in the area has been sluggish for a number of decades, with little increase in population or employment. Like other parts of upstate New York, the Syracuse economy was historically centered on manufacturing, with companies such as Carrier, General Electric, and Lockheed Martin serving as major employers. Though manufacturing remains important to the area, the service sector has emerged as the region’s main source of job creation. In particular, growth in the education and health sector has been a stabilizing force, with the Upstate Medical University and Syracuse University now the area’s largest employers.

Economic and Demographic Trends
Syracuse Rochester* Utica* New York State USA
Population1 651,000 1,071,000 291,000 19,542,000 327,167,000
Pop growth, 10-year change1 -1.3% -0.4% -2.5% 1.7% 7.6%
GDP, billions2 $34 $57 $11 $1,598 $19,485
Job growth, 5-year change1 2.4% 3.5% 1.3% 8.0% 9.3%
Median household income2 $56,000 $56,000 $50,000 $64,000 $60,000
Median home price2 $130,000 $140,000 $120,000 $300,000 $200,000
Pop share age 25+ with BA+2 31.8% 34.1% 22.5% 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
Syracuse 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)
Syracuse Metro Area Household Debt & Credit Snapshot (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)