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)
NEW: Early Benchmarked Employment Data
Syracuse Metro Area Household Debt & Credit Snapshot (Q4 2018)
New York Household Debt & Credit Snapshot (Q4 2018)
Labor Markets in the Region Are Exceptionally Tight (Dec 4, 2018)
New York State's Community Colleges are Successfully Partnering with Employers (Nov 14, 2018)
Upstate New York's Expansion Is Losing Steam (Oct 13, 2017)
Just Released: Economic Press Briefing Focuses on Regional Wage Inequality (Aug 10, 2017)
A Tale of Two States: The Recession's Impact on N.Y. and N.J. School Finances (Feb 2017)