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 110,000 306,000 649,000 19,454,000 328,240,000
Pop growth, 10-year change1 -4.5% -3.7% -1.9% 0.8% 7.0%
GDP, billions1 $7 $14 $43 $1,772 $21,433
Job growth, 5-year change1 -1.9% 2.4% 2.8% 7.4% 8.6%
Median household income1 $52,000 $53,600 $60,000 $71,600 $65,000
Median home price1 $140,000 $120,000 $140,000 $320,000 $230,000
Pop share age 25+ with BA+1 22.4% 22.6% 32.5% 37.8% 33.1%

1 2019

* 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 data.census.gov, Moody's Economy.com, or directly from source.

Reports & Analysis
Watertown Economic Conditions (detailed data and timely updates)
Regional Employment Trends (May 23, 2022)
Press Briefing on the Regional Economic Recovery (Dec 17, 2021)
Jaison Abel's Briefing on Economic Conditions in the Region (Nov 5, 2021)
Severe Supply Disruptions Are Impeding Business Activity in the Region (Oct 21, 2021)
Jaison Abel’s Briefing on the New York State Economy During the Pandemic (Sep 30, 2020)
Tracking the Spread of COVID-19 in the Region (Aug 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)
Jaison Abel’s Briefing on the Regional Economy with a Focus on Central New York (Jan 2020)
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