Binghamton, New York Income Statistics
Binghamton Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of an area's residents based on income levels, employment rates, and income inequality metrics.
-
D
Binghamton Well below average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Binghamton | New York Avg | US Average |
|---|---|---|---|
| Median Household Income | $45,746 | $86,556 | $80,455 |
| Median Personal Income | $51,775 | $70,316 | $60,758 |
| Average Yearly Income Growth | 5.4% | 4.5% | 4.8% |
| Six-Figure Earners | 7.3% | 16.7% | 13.9% |
| $200k+ Households | 4.6% | 17.1% | 13.2% |
The median household income in Binghamton is about 47% lower than in New York. Income has been growing faster in Binghamton (5.4%/yr) than in New York (4.5%/yr).
About 7% of adults in Binghamton earn six figures ($100,000 or more) a year, lower than the New York average of 17%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Binghamton, New York grew by 53.6% from 2009 to 2024, reaching $45,746 in 2024. That's an average of about 5.4% per year.
Income Inequality and the Gender Pay Gap in Binghamton
| Metric | Binghamton | New York Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.590 | 0.557 | 0.552 |
| Male Median Income | $62,567 | $77,531 | $69,667 |
| Female Median Income | $48,455 | $67,892 | $56,850 |
| Gender Pay Gap | 22.6% | 12.4% | 18.4% |
The Gini coefficient measures how evenly income is shared between richer and poorer households, from 0 (everyone earns the same) to 1 (one household earns nearly everything). The lower the number, the more equally income is distributed. In Binghamton, it is 0.590, higher than New York's 0.557, so income is less evenly distributed here than there, and higher than the US's 0.552, so income is less evenly distributed here than there.
Men's income is about 29% more than women's income in Binghamton, New York. Over a 35-year career, a 29% wage gap accumulates to roughly $493,920 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Binghamton, New York has widened from about 17% to 23% in 2024. Over that period the gap was widest at 27% in 2022, and was narrowest at 3% in 2018. In dollar terms, the gap has widened by $7,625 since 2009.
Sharply against the trend: the pay gap in Binghamton widened by 5.5 points while New York's narrowed by 6.0 points.
Employment
| Metric | Binghamton | New York Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 10.2% | 6.4% | 5.2% |
| Working from Home | 9.3% | 15.0% | 15.0% |
| Commute time (minutes) | 15 | 28 | 22 |
Approximately 2,353 people are unemployed in Binghamton, New York.
The average commute time in Binghamton is 15 minutes, shorter than the 28 minutes in New York.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Binghamton, New York has fallen from 10.4% to 10.2% in 2024. Over that period the rate peaked at 11.7% in 2017 and fell as low as 9.8% in 2023.
Conclusion
Considering all these factors, Binghamton, New York has an overall wealth index grade of D, making it somewhat worse than New York, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Binghamton, New York.
How Rich Is Binghamton, New York?
Binghamton has a wealth index grade of D. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a D grade means residents are somewhat worse off than the U.S. average. The median household income is $45,746, about 47% lower than the New York average of $86,556.
How has median household income changed in Binghamton, New York?
Between 2009 and 2024, the median household income in Binghamton, New York rose 54%, from $29,791 to $45,746. Over the same years, income here lagged behind New York as a whole: +54% against +56%.
What was the median household income in Binghamton in 2023?
In 2023, the median household income in Binghamton, New York was $44,252, up 4% from $42,731 in 2022. The New York median that year was $85,199.
What was the median household income in Binghamton in 2020?
In 2020, the median household income in Binghamton, New York was $35,879. By 2024 it had risen 28% to $45,746.
Is unemployment high in Binghamton, New York?
Unemployment in Binghamton, New York is 10.2%, well above the New York rate of 6.4%, so job seekers may face more competition than elsewhere.
What is the Gini coefficient in Binghamton, New York?
The Gini coefficient in Binghamton is 0.590. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is higher than the US average of 0.552, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in Binghamton, New York?
Since 2009, the income gap between men and women in Binghamton, New York has widened from about 17% to 23% in 2024. Over that period the gap was widest at 27% in 2022, and was narrowest at 3% in 2018. In dollar terms, the gap has widened by $7,625 since 2009.
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