The borough and the region as a whole promotes itself as the "Christmas Tree Capital of the World" because the national Christmas Tree Grower's Association was founded there. There are still a large number of Christmas tree farms in the area. The largest employer in the borough today is the Indiana University of Pennsylvania, the largest of 14 PASSHE schools in the state.
As of the census of 2000, there were 14,895 people, 4,804 households, and 1,666 families residing in the borough. The population density was 8,440.0 people per square mile (3,267.6/km²). There were 5,096 housing units at an average density of 2,887.6/sq mi (1,117.9/km²). The racial makeup of the borough was 91.51% White, 5.19% African American, 0.07% Native American, 1.89% Asian, 0.02% Pacific Islander, 0.44% from other races, and 0.89% from two or more races. Hispanic or Latino of any race were 1.20% of the population.
There were 4,804 households out of which 14.1% had children under the age of 18 living with them, 26.5% were married couples living together, 6.1% had a female householder with no husband present, and 65.3% were non-families. 34.1% of all households were made up of individuals and 10.3% had someone living alone who was 65 years of age or older. The average household size was 2.29 and the average family size was 2.81.
In the borough the population was spread out with 8.2% under the age of 18, 59.4% from 18 to 24, 13.7% from 25 to 44, 10.5% from 45 to 64, and 8.2% who were 65 years of age or older. The median age was 22 years. For every 100 females there were 83.8 males. For every 100 females age 18 and over, there were 82.3 males.
The median income for a household in the borough was $21,279, and the median income for a family was $47,192. Males had a median income of $26,506 versus $22,471 for females. The per capita income for the borough was $12,317. About 11.2% of families and 44.1% of the population were below the poverty line, including 14.3% of those under age 18 and 11.5% of those age 65 or over.