Schenectady has the 420th largest population in the United States. The population shrank by 1.3% from 2010 to 2015, which was slower than the national average. Schenectady is part of the Albany metro area. Unemployment in the Albany area is 3%, which is lower than the national average, and is getting better. Albany has the 57th largest local economy in the US, and a low cost of living. The average pay for jobs in Schenectady is below average at $50,880, and the median cost of a home in Schenectady is $116,700, which is below the national average. 20% of workers in Schenectady hold a bachelors degree or higher (above average), and 83% of workers have a high school degree (above average). Driving to work is especially common in Schenectady. 72% of Schenectady workers drive to work alone, 8% take public transit, 8% carpool, and 10% walk. People in Schenectady spend an average of 22 minutes commuting to work, which is shorter than the national average of 26 minutes.