Going down! These NJ towns are getting poorer

Does the time-worn quote “the rich keep getting richer” apply not to just individuals, but New Jersey towns?

It does not appear to be that simple, based on this decade's worth of Census data.

Of the more than 500 municipalities statewide, a strong majority managed to beat inflation over a 10-year span.

The rate of inflation from 2012 to 2022 was about 27%.

From the U.S. Census American Community Survey 5-Year Estimates for that period, 404 municipalities in New Jersey saw their median household income outpace that rate while 149 didn't catch up.

The following 20 municipalities saw their median household income either decrease or grow too slowly.

Over the same period, at least six towns more than doubled their median household income.

Read More: NJ towns with increasing median household income 

Real median household income nationwide was $74,580 in 2022, according to federal data.

Among the 10 municipalities that saw income dip between these surveys, three of them were still clocking in at six-figure median household income.

One of those that saw an actual decline in median household income, Harding, has also been grappling with fulfilling a years-long affordable housing plan.

Harding Township’s court-approved Housing Element and Fair Share Plan (HEFSP) provides for 259 affordable housing credits, of which at least 83 have been built.

According to a 2023 annual monitoring report, the remaining 176 units are third-round obligations.

Rockleigh Borough in Bergen County — population of roughly 500 — had one of the state’s highest median incomes in 2012 at $198,125.

There was very little change over a decade, as the median income in 2022 was $206,250.

Still very wealthy — but not nearly the 43% growth of the neighboring community, Alpine.

In the same decade, Alpine added another 500 or so residents, bringing its population to over 2,000 and its median household income to $228,194.

Both affluent towns are considerably higher than the statewide median household income for a family of four — $141,384 as of late 2023.

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