Watertown Metro Area

Located in the northern part of New York State near the St. Lawrence River, Watertown is one of New York’s smallest metropolitan areas, with a population of 115,000. The area has seen little employment growth since the Great Recession. Watertown is home to the Fort Drum military reservation, with some local economic activity centered around serving the facility. As in many other upstate New York metropolitan areas, the manufacturing sector has shed a substantial number of jobs in recent decades. Picking up some of the slack have been the health-and-education and professional-and-business-services sectors, which have added jobs in recent years.

Economic and Demographic Trends
Watertown North Country* Syracuse* New York State USA
Population1 112,000 307,000 651,000 19,542,000 327,167,000
Pop growth, 10-year change1 -2.8% -3.1% -1.3% 1.7% 7.6%
GDP, billions2 $6 $11 $34 $1,598 $19,485
Job growth, 5-year change1 -0.2% 3.2% 2.4% 8.0% 9.3%
Median household income2 $50,000 $52,000 $56,000 $64,000 $60,000
Median home price2 $140,000 $110,000 $130,000 $300,000 $200,000
Pop share age 25+ with BA+2 21.2% 21.9% 31.8% 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 Economy.com, or directly from source.

Reports & Analysis
Watertown Economic Conditions (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)
Watertown 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)