These NJ towns have the highest average income

We all dream of being rich, of being able to afford anything we want. New Jersey is an affluent state; we have our share of rich people in places like Alpine, Short Hills, Rumson and dozens of other towns.

Using data culled from the America Community Survey by the Census, NJ.com published a list of the wealthiest towns in New Jersey.

The Census caps the median income at $250,000, so there is a tie at the top, and we really don’t know how high these incomes go.

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Here are the five towns atop the rankings:

1️⃣ Ho-Ho-Kus
2️⃣ Millburn Twp
3️⃣ Rumson Borough
4️⃣ Chatham Borough
5️⃣ Mountain Lakes Borough

All five of those towns top out at a $250,000 median income.

Here’s the rest of the top ten:

6️⃣ Essex Fells Borough ($247,000)
7️⃣ Glen Ridge Borough ($246,429)
8️⃣ Mendham Township ($240,962)
9️⃣ Mantoloking Borough ($240,417)
🔟 Upper Saddle River Borough ($234,476)

According to NJ.com, New Jersey’s statewide median household income is $96,346.

Penns Grove in Salem County has the lowest median income in the state at $29,821.

Two thirds of the towns making $180,000 or more are in Bergen, Monmouth, and Morris Counties.

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The top 1% of earners in New Jersey hold a significant portion of the state's wealth, with an income threshold exceeding $800,000.

A couple of reasons why New Jersey’s median income is higher than the national number:

New Jersey boasts a diverse and thriving economy with major industries in finance, healthcare, pharmaceuticals, and technology. This attracts businesses and high-paying jobs, contributing to overall wealth generation.

The state has a well-educated population, with a high percentage of residents holding college degrees. This translates to higher earning potential and increased wealth accumulation.

LOOK: Counties with the highest unemployment in New Jersey

Stacker compiled a list of the counties with the highest unemployment in New Jersey using data from the Bureau of Labor Statistics. Counties are ranked by unemployment rate in November 2023.

Gallery Credit: Stacker

Top 30 schools most violent schools in New Jersey

These are the schools in New Jersey with the highest rates of violence. The rankings are based on the annual School Performance Reports for the 2021-22 school year. New Jersey 101.5 ranked the schools based on the rate of reported violent incidents per 100 students. Schools with enrolment less than 100 are excluded.

Gallery Credit: New Jersey 101.5

Opinions expressed in the post above are those of New Jersey 101.5 talk show host Bill Doyle only.

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Categories: Talking About ..., Ultimate New Jersey