NAICS 52

Finance and Insurance in Rochester, NY

Metro Market Score 69.3 (Difficult), ranked #291 of 331 metros. 1,176 establishments, 13,796 jobs.

Metro Market Score 69.3

Favorable 0-35

Moderate 35-48

Challenging 48-60

Difficult 60+

Difficult

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

💰High-Cost Market

Rochester's finance and insurance sector saw employment decline over the past year (growth trend: 16.6). That contraction, combined with a 69.3 market score, puts this metro in the bottom quartile for market conditions. Understand why the local market is shrinking before committing.

Industry Concentration

62.5

LQ: 0.69

Rank #207 of 331 metros

Wage Competitiveness

76.4

$105,192 avg wage

Growth Trend

↓ 16.6

Employment growth index

Rank #277 of 331 metros

Wage Pressure

47.6

YoY wage change index

1,176 Finance and Insurance Firms in Rochester

1,176

Establishments

-1.5% YoY

13,796

Total Employment

-4.6% YoY

$105,192

Average Annual Wage

+6.8% YoY

0.69

Location Quotient

Below national avg

Within New York

#10 of 12

finance and insurance metros in state

New York state rank

#49 of 51

for finance and insurance entry risk

vs State Median

+11.4

worse than median (57.9)

Rochester 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	Rochester	NY Statewide
Overall Score	69.3 Difficult	65.4 High
Score Type	Metro Market Score	Entry Risk Score
Rank	#291 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 Rochester

Accommodation and Food Services 51.5 Administrative and Support Services 55.8 Healthcare and Social Assistance 56.0 Other Services 59.3 Construction 59.5 Information 62.4 Retail Trade 62.6 Real Estate and Rental and Leasing 68.3

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 Binghamton 51.6 #186/331 Glens Falls 55.4 #223/331 Utica-Rome 57.9 #235/331 Ithaca 62.4 #260/331 Syracuse 68.7 #287/331 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 Rochester's 69.3 score. Useful when comparing markets with comparable entry profiles.

Provo-Orem-Lehi, UT 69.3 #290/331 Mobile, AL 69.1 #289/331 Seattle-Tacoma-Bellevue, WA 69.0 #288/331 Portland-Vancouver-Hillsboro, OR 69.7 #292/331 Washington-Arlington-Alexandria, DC 69.7 #293/331 Syracuse, NY 68.7 #287/331 Jacksonville, FL 68.6 #286/331 Colorado Springs, CO 68.5 #285/331 Kalamazoo-Portage, MI 70.0 #294/331 Charleston-North Charleston, SC 70.0 #295/331

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 Rochester's finance and insurance sector, the employment growth component (83.4) 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 Rochester, NY MSA area.

Data period: 2024. Last updated: April 2026.

Metro Market Assessment