NAICS 52

Finance and Insurance in Binghamton, NY

Metro Market Score 51.6 (Challenging), ranked #186 of 331 metros. 217 establishments, 1,921 jobs.

Metro Market Score 51.6

Favorable 0-35

Moderate 35-48

Challenging 48-60

Difficult 60+

Challenging

ⓘ Lower is better. Relative to national finance and insurance average.

At #186 of 331 metros, Binghamton's finance and insurance sector scores 51.6 on the market index. Concentration (27.2), wage levels (47.4), and growth (24.2) all track close to the median. Local factors like lease costs and client access will matter more than macro signals.

Industry Concentration

27.2

LQ: 0.49

Rank #90 of 331 metros

Wage Competitiveness

47.4

$87,775 avg wage

Growth Trend

↓ 24.2

Employment growth index

Rank #252 of 331 metros

Wage Pressure

51.2

YoY wage change index

217 Finance and Insurance Firms in Binghamton

217

Establishments

-1.8% YoY

1,921

Total Employment

-3.5% YoY

$87,775

Average Annual Wage

+8.2% YoY

0.49

Location Quotient

Below national avg

Within New York

#5 of 12

finance and insurance metros in state

New York state rank

#49 of 51

for finance and insurance entry risk

vs State Median

-6.3

better than median (57.9)

Binghamton vs New York Statewide

How this metro's finance and insurance market compares to New York overall. The state ranks #49/51 for entry risk.

Measure	Binghamton	NY Statewide
Overall Score	51.6 Challenging	65.4 High
Score Type	Metro Market Score	Entry Risk Score
Rank	#186 of 331 metros	#49 of 51 states

Metro and state scores use different methodologies (metro has 4 QCEW-based metrics; state adds BDS survival and momentum data). Direct score comparisons are approximate.

Other Industries in Binghamton

Real Estate and Rental and Leasing 40.2 Accommodation and Food Services 47.1 Construction 50.0 Information 54.9 Healthcare and Social Assistance 58.7 Other Services 59.3 Retail Trade 60.2

Finance and Insurance in Other New York Metros

Elmira 25.2 #21/331 Watertown-Fort Drum 33.6 #67/331 Kingston 40.0 #105/331 Kiryas Joel-Poughkeepsie-Newburgh 43.7 #133/331 Glens Falls 55.4 #223/331 Utica-Rome 57.9 #235/331 Ithaca 62.4 #260/331 Syracuse 68.7 #287/331 Rochester 69.3 #291/331 Buffalo-Cheektowaga 74.4 #313/331

+ 1 more metros. View all in New York →

Finance and Insurance Metros With Similar Conditions

Metros within 5 points of Binghamton's 51.6 score. Useful when comparing markets with comparable entry profiles.

Ogden, UT 51.6 #187/331 Fort Smith, AR 51.6 #184/331 Kennewick-Richland, WA 51.6 #185/331 Ann Arbor, MI 52.0 #188/331 Canton-Massillon, OH 51.2 #183/331 Sebastian-Vero Beach-West Vero Corridor, FL 51.1 #182/331 Greenville-Anderson-Greer, SC 51.0 #181/331 Salinas, CA 52.3 #189/331 Lawton, OK 52.4 #190/331 Jackson, MS 52.4 #191/331

Finance and Insurance in States Bordering New York

State-level entry risk for finance and insurance in adjacent states. Use this to weigh cross-border options.

Massachusetts 48.2 #15/51 Pennsylvania 48.8 #19/51 New Jersey 53.2 #32/51 Vermont 53.6 #34/51 Connecticut 73.7 #51/51

Browse Finance and Insurance in Other States

State-level entry risk reports for finance and insurance across all 51 markets, sorted by rank.

About Metro Market Score: A weighted composite of industry concentration (25%), wage competitiveness (25%), wage pressure (20%), and employment growth trend (30%). Lower scores indicate more favorable conditions. For Binghamton's finance and insurance sector, the employment growth component (75.8) has the strongest pull on the composite. Metro scores use QCEW data only (no BDS survival data at metro level). Read full methodology →

Data Sources

Quarterly Census of Employment and Wages (QCEW), Bureau of Labor Statistics. MSA-level establishment counts, employment, wages, and location quotients for the Binghamton, NY MSA area.

Data period: 2024. Last updated: April 2026.

Metro Market Assessment