Schenectady, New York Income Statistics
Schenectady 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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D
Schenectady Well below average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Schenectady | New York Avg | US Average |
|---|---|---|---|
| Median Household Income | $57,874 | $86,556 | $80,455 |
| Median Personal Income | $53,708 | $70,316 | $60,758 |
| Average Yearly Income Growth | 4.3% | 4.5% | 4.8% |
| Six-Figure Earners | 6.8% | 16.7% | 13.9% |
| $200k+ Households | 5.3% | 17.1% | 13.2% |
The median household income in Schenectady is about 33% lower than in New York. Income has been growing slower in Schenectady (4.3%/yr) than in New York (4.5%/yr).
About 7% of adults in Schenectady 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 Schenectady, New York grew by 53.8% from 2009 to 2024, reaching $57,874 in 2024. That's an average of about 4.3% per year.
Income Inequality and the Gender Pay Gap in Schenectady
| Metric | Schenectady | New York Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.562 | 0.557 | 0.552 |
| Male Median Income | $57,928 | $77,531 | $69,667 |
| Female Median Income | $56,466 | $67,892 | $56,850 |
| Gender Pay Gap | 2.5% | 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 Schenectady, it is 0.562, 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 3% more than women's income in Schenectady, New York. Over a 35-year career, a 3% wage gap accumulates to roughly $51,170 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Schenectady, New York has narrowed from about 14% to 3% in 2024. Over that period the gap was narrowest at 1% in 2022. In dollar terms, the gap has narrowed by $3,739 since 2009.
Employment
| Metric | Schenectady | New York Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 8.8% | 6.4% | 5.2% |
| Working from Home | 10.8% | 15.0% | 15.0% |
| Commute time (minutes) | 20 | 28 | 22 |
Approximately 3,015 people are unemployed in Schenectady, New York.
The average commute time in Schenectady is 20 minutes, shorter than the 28 minutes in New York.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Schenectady, New York has fallen from 9.3% to 8.8% in 2024. Over that period the rate peaked at 12.0% in 2014.
Schenectady, NY Wealth Compared With Nearby Cities
How Schenectady, NY compares with the 2 cities closest to it.
| Area | Population | Median household income | Income growthAverage yearly change in median household income since 2016. Each year is measured in its own dollars, so this is growth before inflation. | Unemployment | Income inequalityGini coefficient: 0 would mean every household earns the same, 1 that a single household earns everything. The lower the number, the more equally income is shared here. |
|---|---|---|---|---|---|
| Schenectady, NY | 68,515 | $57,874 #3/3 | 4.3%/yr #1/3 | 8.8% #3/3 | 0.562 #3/3 |
| Rotterdam, NY | 21,779 | $85,479 | 3.9%/yr | 3.3% | 0.455 |
| Niskayuna, NY | 20,872 | $135,541 | 4.2%/yr | 2.9% | 0.478 |
Conclusion
Considering all these factors, Schenectady, 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 Schenectady, New York.
How Rich Is Schenectady, New York?
Schenectady 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 $57,874, about 33% lower than the New York average of $86,556.
How has median household income changed in Schenectady, New York?
Between 2009 and 2024, the median household income in Schenectady, New York rose 54%, from $37,633 to $57,874. Over the same years, income here lagged behind New York as a whole: +54% against +56%.
What was the median household income in Schenectady in 2023?
In 2023, the median household income in Schenectady, New York was $55,799, up 3% from $54,099 in 2022. The New York median that year was $85,199.
What was the median household income in Schenectady in 2020?
In 2020, the median household income in Schenectady, New York was $47,637. By 2024 it had risen 21% to $57,874.
Is unemployment high in Schenectady, New York?
Unemployment in Schenectady, New York is 8.8%, well above the New York rate of 6.4%, so job seekers may face more competition than elsewhere.
What is the Gini coefficient in Schenectady, New York?
The Gini coefficient in Schenectady is 0.562. 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 Schenectady, New York?
Since 2009, the income gap between men and women in Schenectady, New York has narrowed from about 14% to 3% in 2024. Over that period the gap was narrowest at 1% in 2022. In dollar terms, the gap has narrowed by $3,739 since 2009.
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