Waterbury has the 206th largest population in the United States. The population shrank by 1.4% from 2010 to 2015, which was slower than the national average. Waterbury is part of the New Haven metro area. Unemployment in the New Haven area is 5%, which is higher than the national average, and is getting better. New Haven has the 60th largest local economy in the US, and a low cost of living. The average pay for jobs in Waterbury is above average at $53,680, and the median cost of a home in Waterbury is $140,700, which is below the national average. 16% of workers in Waterbury hold a bachelors degree or higher (above average), and 79% of workers have a high school degree (above average). Driving to work is especially common in Waterbury. 79% of Waterbury workers drive to work alone, 4% take public transit, 8% carpool, and 8% walk. People in Waterbury spend an average of 23 minutes commuting to work, which is shorter than the national average of 26 minutes.