In the 1950s, the population of Binghamton City peaked at about 85,000 people. During the industrial era, the town attracted thousands of European immigrants because of its high quality of life and plentiful jobs. In the 1920s, Binghamton was home to the Ku Klux Klan's state headquarters. In response, local residents worked to suppress anti-immigrant sentiment and promoted cultural celebrations.
While the city is still predominantly white, the population has begun to skew ethnically. The city's 2010 racial makeup was 77.6% white, 11.4% black, and 0.3% native American. One-tenth of the population was Hispanic. Despite this diversity, the city has a low crime rate and a relatively low cost of living. The median income per household is $36,500.
In recent years, Binghamton City has attempted to diversify its economy. The local economy has shifted from manufacturing to healthcare and services. Binghamton University, which opened a downtown campus in 2007, has been a major focus for revitalization. Several new student housing complexes have been built downtown. Combined, these developments have prompted an influx of residential population and revitalization of the riverfront. However, recent floods have hampered this progress.
Binghamton is the carousel capital of the world. The city is home to six antique carousels, including two within the city limits. Other attractions in the city include the Phelps Mansion museum and Cutler Botanic Garden. During the winter months, Binghamton is home to the Spiedie Fest and Balloon Rally. The city also hosts an annual Carousel Festival.