Saratoga Springs, New York Income Statistics
Saratoga Springs 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.
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B
Saratoga Springs Around average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Saratoga Springs | New York Avg | US Average |
|---|---|---|---|
| Median Household Income | $103,810 | $86,556 | $80,455 |
| Median Personal Income | $81,317 | $70,316 | $60,758 |
| Average Yearly Income Growth | 4.5% | 4.5% | 4.8% |
| Six-Figure Earners | 23.1% | 16.7% | 13.9% |
| $200k+ Households | 19.7% | 17.1% | 13.2% |
The median household income in Saratoga Springs is about 20% higher than in New York. Income has been growing faster in Saratoga Springs (4.5%/yr) than in New York (4.5%/yr).
About 23% of adults in Saratoga Springs earn six figures ($100,000 or more) a year, higher than the New York average of 17%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Saratoga Springs, New York grew by 70.1% from 2009 to 2024, reaching $103,810 in 2024. That's an average of about 4.5% per year.
Income Inequality and the Gender Pay Gap in Saratoga Springs
| Metric | Saratoga Springs | New York Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.531 | 0.557 | 0.552 |
| Male Median Income | $101,055 | $77,531 | $69,667 |
| Female Median Income | $76,311 | $67,892 | $56,850 |
| Gender Pay Gap | 24.5% | 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 Saratoga Springs, it is 0.531, lower than New York's 0.557, so income is more evenly distributed here than there, and lower than the US's 0.552, so income is more evenly distributed here than there.
Men's income is about 32% more than women's income in Saratoga Springs, New York. Over a 35-year career, a 32% wage gap accumulates to roughly $866,040 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Saratoga Springs, New York has narrowed from about 27% to 24% in 2024. Over that period the gap was widest at 30% in 2014, and was narrowest at 19% in 2019. In dollar terms, the gap has widened by $8,122 since 2009.
Employment
| Metric | Saratoga Springs | New York Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.4% | 6.4% | 5.2% |
| Working from Home | 25.6% | 15.0% | 15.0% |
| Commute time (minutes) | 20 | 28 | 22 |
Approximately 384 people are unemployed in Saratoga Springs, New York.
The average commute time in Saratoga Springs is 20 minutes, shorter than the 28 minutes in New York.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Saratoga Springs, New York has fallen from 5.5% to 2.4% in 2024. Over that period the rate peaked at 8.2% in 2015 and fell as low as 2.3% in 2023.
Conclusion
Considering all these factors, Saratoga Springs, New York has an overall wealth index grade of B, making it somewhat better than New York, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Saratoga Springs, New York.
How Rich Is Saratoga Springs, New York?
Saratoga Springs has a wealth index grade of B. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a B grade means residents are quite well off compared to the U.S. average. The median household income is $103,810, about 20% higher than the New York average of $86,556.
Are incomes growing in Saratoga Springs, New York?
Between 2009 and 2024, the median household income in Saratoga Springs, New York rose 70%, from $61,038 to $103,810. Over the same years, income here outpaced New York as a whole: +70% against +56%.
What was the median household income in Saratoga Springs in 2023?
In 2023, the median household income in Saratoga Springs, New York was $100,354, up 4% from $96,490 in 2022. The New York median that year was $85,199.
What was the median household income in Saratoga Springs in 2020?
In 2020, the median household income in Saratoga Springs, New York was $87,552. By 2024 it had risen 19% to $103,810.
Do many residents of Saratoga Springs, New York earn over $100,000?
Yes. 23% of adults in Saratoga Springs, New York earn $100,000 or more a year (about 1 in 4), against 17% (about 1 in 6) in New York. 20% of households have a combined income of $200,000 or more, compared with 17% in New York.
Is it hard to find a job in Saratoga Springs, New York?
Unemployment in Saratoga Springs, New York is only 2.4%, well below the New York rate of 6.4%, a sign of a tight labor market where employers compete for workers.
What is the Gini coefficient in Saratoga Springs, New York?
The Gini coefficient in Saratoga Springs is 0.531. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is lower than the US average of 0.552, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Saratoga Springs, New York?
Since 2009, the income gap between men and women in Saratoga Springs, New York has narrowed from about 27% to 24% in 2024. Over that period the gap was widest at 30% in 2014, and was narrowest at 19% in 2019. In dollar terms, the gap has widened by $8,122 since 2009.
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