Binghamton is a city in New York state in USA with a population of 44819 residents.. The poverty rate of Binghamton is 32.7%, which is 134% higher than national average. The typical household in Binghamton earns $35730 a year, compared to the national median of $67,500. Financial hardship is relatively common in the city as 1 in every 3 residents live below the poverty line, well above the national poverty rate of 14.1%. Additionally, more than 1 in every 7 area households live on an income of less than $10,000 a year. Nationwide, 5.8% of households do. Nearly 60.7% of households earn less than $50,000 a year compared to 39% national rate. With a lack of available jobs, many in Binghamton are struggling financially. Nearly one in every 1 in every 9 workers in Binghamton is unemployed. The high jobless rate has likely contributed to the widespread poverty in the city.

A high school education is a basic prerequisite for most jobs, and in Binghamton, only 87% of adults have a high school diploma, compared to the 87.7% of adults nationwide. The unemployment rate of Binghamton remained 11.6%, which is 147% higher than national rate. Nearly 2 times comparable to 4.7% national rate, according to the Census. Higher educational attainment can lead to improved job security and reduce the likelihood of financial insecurity. In Binghamton, only 28% of adults have a bachelor's degree and 29% have some college but no degree.

Cost of living in Binghamton is 90, which is 10% lower than national average. Median home value in Binghamton is $92800 , which is 60% lower than national average. While median income in Binghamton remained $35730, which is 47% lower than national average.