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 117,000. The area has seen little population or employment growth in recent decades. Watertown is home to the Fort Drum military reservation, with significant 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. Growth in the health and education and professional and business-services sectors have helped offset some of these losses.

Economic and Demographic Trends
Watertown North Country* Syracuse* New York State USA
Population1 117,000 305,000 662,000 20,201,000 331,449,000
Pop growth, 10-year change1 0.4% -3.8% -0.1% 4.2% 7.4%
GDP, billions1 $7 $14 $42 $1,725 $20,894
Job growth, 5-year change2 -6.8% -4.4% -5.1% -4.1% 1.2%
Median household income1 $59,000 $56,000 $63,000 $72,600 $67,000
Median home price1 $140,000 $121,000 $150,000 $350,000 $250,000
Pop share age 25+ with BA+1 23.3% 34.7% 32.2% 39.4% 35.1%

1 2020

2 2021

* 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
Regional Employment Trends (September 8, 2023)
Press Briefing: The Region’s Recovery from the Pandemic Recession (April 13, 2023)
LSE Blog: The Tri-State Region’s Recovery from the Pandemic Recession Three Years On (April 13, 2023)
Richard Deitz's Briefing on Regional Economic Conditions (March 7, 2023, New York State)
Press Briefing: Employment and Housing Conditions in the Second District (Nov 10, 2022)
A Look at the New York-Northern New Jersey Region’s Pandemic Housing Boom (Nov 10, 2022)
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)
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