Watertown, New York Income Statistics
Watertown 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
Watertown Well below average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Watertown | New York Avg | US Average |
|---|---|---|---|
| Median Household Income | $51,981 | $86,556 | $80,455 |
| Median Personal Income | $47,268 | $70,316 | $60,758 |
| Average Yearly Income Growth | 3.2% | 4.5% | 4.8% |
| Six-Figure Earners | 6.1% | 16.7% | 13.9% |
| $200k+ Households | 4.7% | 17.1% | 13.2% |
The median household income in Watertown is about 40% lower than in New York. Income has been growing slower in Watertown (3.2%/yr) than in New York (4.5%/yr).
About 6% of adults in Watertown 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 Watertown, New York grew by 45.3% from 2009 to 2024, reaching $51,981 in 2024. That's an average of about 3.2% per year.
Income Inequality and the Gender Pay Gap in Watertown
| Metric | Watertown | New York Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.502 | 0.557 | 0.552 |
| Male Median Income | $53,878 | $77,531 | $69,667 |
| Female Median Income | $44,739 | $67,892 | $56,850 |
| Gender Pay Gap | 17.0% | 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 Watertown, it is 0.502, 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 20% more than women's income in Watertown, New York. Over a 35-year career, a 20% wage gap accumulates to roughly $319,865 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Watertown, New York has narrowed from about 20% to 17% in 2024. Over that period the gap was widest at 21% in 2020, and was narrowest at 15% in 2017. In dollar terms, the gap has widened by $1,508 since 2009.
Employment
| Metric | Watertown | New York Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.0% | 6.4% | 5.2% |
| Working from Home | 4.5% | 15.0% | 15.0% |
| Commute time (minutes) | 12 | 28 | 22 |
Approximately 629 people are unemployed in Watertown, New York.
The average commute time in Watertown is 12 minutes, shorter than the 28 minutes in New York.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Watertown, New York has fallen from 9.7% to 5.0% in 2024. Over that period the rate peaked at 11.5% in 2013 and fell as low as 5.0% in 2021.
Conclusion
Considering all these factors, Watertown, 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 Watertown, New York.
How Rich Is Watertown, New York?
Watertown 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 $51,981, about 40% lower than the New York average of $86,556.
How fast is household income rising in Watertown, New York?
Between 2009 and 2024, the median household income in Watertown, New York rose 45%, from $35,766 to $51,981. Over the same years, income here lagged behind New York as a whole: +45% against +56%.
What was the median household income in Watertown in 2023?
In 2023, the median household income in Watertown, New York was $49,580, about the same as in 2022. The New York median that year was $85,199.
What was the median household income in Watertown in 2020?
In 2020, the median household income in Watertown, New York was $41,700. By 2024 it had risen 25% to $51,981.
Is unemployment high in Watertown, New York?
Unemployment in Watertown, New York is only 5.0%, 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 Watertown, New York?
The Gini coefficient in Watertown is 0.502. 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 Watertown, New York?
Since 2009, the income gap between men and women in Watertown, New York has narrowed from about 20% to 17% in 2024. Over that period the gap was widest at 21% in 2020, and was narrowest at 15% in 2017. In dollar terms, the gap has widened by $1,508 since 2009.
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