These Are The 10 Richest Cities In New Jersey For 2018


We analyzed over 256 places in New Jersey to determine where the 1% live.

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Woodcliff Lake, Bernardsville, North Caldwell: These cities aren’t just some of the best places to live in New Jersey. They are also home to some of the richest people in the Garden State.

Woodcliff Lake in particular houses the richest residents in the state thanks, in part, to a median household income of $150,862 and a ridiculously low poverty rate of 2.0%.

If you’re thinking of moving to one of these towns, you’ll probably need to start saving. The richest places in New Jersey share common characteristics such as having a genius level populous, sky high home prices, and a Pleasantville level of married couples.

How did we come up with these mega wealthy cities? We analyzed Census data from the 2012-2016 American Community Survey for the 190 places in New Jersey with more than 5,000 people.

At the end of the day, here’s the set of the 10 richest places in New Jersey for 2018:

  1. Woodcliff Lake (Photos | Homes For Sale)
  2. Bernardsville (Photos | Homes For Sale)
  3. North Caldwell (Photos | Homes For Sale)
  4. Chatham (Photos | Homes For Sale)
  5. Demarest (Photos | Homes For Sale)
  6. Little Silver (Photos | Homes For Sale)
  7. Haddonfield (Photos | Homes For Sale)
  8. Watchung (Photos | Homes For Sale)
  9. Mendham (Photos | Homes For Sale)
  10. Englewood Cliffs (Photos | Homes For Sale)

For more on how we calculated the top ten, read on or skip to the end for the full list of the richest cities in New Jersey.

Rich people not your cup of tea? Feel free to check out the best places to live in New Jersey or the poorest.

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How We Determined The Richest Places In New Jersey For 2018

The first thing that comes to most people’s minds when they think about determining the richest places is to simply identify personal incomes. After all, rich people have really high salaries.

However, we don’t believe that one statistic wholly encompasses what it means to be one of the ‘richest places’. So we looked at this set of criteria from the newly released 2012-2016 American Community Survey:

  • Poverty Level
  • Median Household Income
  • Unemployment Rate

Median household income is the most digestible way to understand how rich a place really is. The unemployment rate tries to capture the prospects for more people to become rich. If more people are employed, the richer the future looks.

After we collected the data for all 190 places with more than 5,000 people in New Jersey, we ranked each place from 1 to 190 for each of the criteria, with 1 being the richest.

We then averaged all the rankings for a place into a ‘Rich Score’ with the place having the lowest overall Rich Score, Woodcliff Lake, crowned the ‘Richest Place In New Jersey For 2018’.

You can learn more about the top ten below or skip to the end to see the rankings for all 190 places.

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1. Woodcliff Lake

Woodcliff Lake, New Jersey

Population: 5,844
Median Income: $150,862
Unemployment Rate: 2.4%
Poverty Rate: 2.0%
More on Woodcliff Lake: Homes For Sale | Data
Woodcliff Lake is a borough in Bergen County, New Jersey, United States. As of the 2010 Census, the borough’s population was 5,730, reflecting a decline of 15 (-0.3%) from the 5,745 counted in the 2000 Census, which had in turn increased by 442 (+8.3%) from the 5,303 counted in the 1990 Census. Most of the borough mandates a minimum lot size of 22,500 square feet (2,090 m2) for single-family homes, with portions on the borough’s east zoned for 15,000 square feet (1,400 m2) and portions of the borough’s northwest and southwest zoned for 30,000 square feet (2,800 m2) lots.

2. Bernardsville

Bernardsville, New Jersey

Population: 7,776
Median Income: $136,563
Unemployment Rate: 2.9%
Poverty Rate: 1.7%
More on Bernardsville: Homes For Sale | Data
Bernardsville /brnrdzvl/ is a borough in Somerset County, New Jersey, United States. In 2000, Bernardsville had the 10th-highest per capita income in the state. As of the 2010 United States Census, the borough’s population was 7,707, reflecting an increase of 362 (+4.9%) from the 7,345 counted in the 2000 Census, which had in turn increased by 748 (+11.3%) from the 6,597 counted in the 1990 Census.

3. North Caldwell

North Caldwell, New Jersey

Population: 6,519
Median Income: $188,897
Unemployment Rate: 3.8%
Poverty Rate: 2.4%
More on North Caldwell: Homes For Sale | Data
North Caldwell is a borough in northwestern Essex County, New Jersey, United States, and a suburb of New York City. As of the 2010 United States Census, the borough’s population was 6,183, reflecting a decline of 1,192 (-16.2%) from the 7,375 counted in the 2000 Census, which had in turn increased by 669 (+10.0%) from the 6,706 counted in the 1990 Census.

4. Chatham

Chatham, New Jersey

Source: Public domain

Population: 9,030
Median Income: $150,625
Unemployment Rate: 3.8%
Poverty Rate: 2.2%
More on Chatham: Homes For Sale | Data
The Chathams is a term used in reference to shared services for two neighboring municipalities in Morris County, New Jersey, United States – Chatham Borough and Chatham Township. The two are separate municipalities. The first, a town that was settled in 1710 as a colonial English village in the Province of New Jersey, that in 1773 adopted a name change to ‘Chatham’. There are numerous references to this village as ‘Chatham, New Jersey’ dating from that time. The second, more southern, without a town center, and less densely populated, is the vestige of a regional government that was formed in 1806 as a township, a form of municipal government peculiar to the state of New Jersey. It had jurisdiction over a region including a large area of open space and several villages. One of those, the village of Chatham, dating from 1710, was the source for its name, Chatham Township.

5. Demarest

Demarest, New Jersey

Population: 5,007
Median Income: $150,139
Unemployment Rate: 4.6%
Poverty Rate: 1.8%
More on Demarest: Homes For Sale | Data

6. Little Silver

Little Silver, New Jersey

Source: Public domain

Population: 5,922
Median Income: $137,652
Unemployment Rate: 3.5%
Poverty Rate: 2.9%
More on Little Silver: Homes For Sale | Data
Little Silver is a borough in Monmouth County, New Jersey, United States. As of the 2010 United States Census, the borough’s population was 5,950, a drop of 220 (3.6%) from the 6,170 counted in the 2000 Census, which had in turn increased by 449 (+7.8%) from the 5,721 counted in the 1990 Census.

7. Haddonfield

Haddonfield, New Jersey

Source: Public domain

Population: 11,444
Median Income: $135,700
Unemployment Rate: 3.4%
Poverty Rate: 2.9%
More on Haddonfield: Homes For Sale | Data
Haddonfield is a borough located in Camden County, New Jersey, United States. As of the 2010 United States Census, the borough had a total population of 11,593, reflecting a decline of 66 (-0.6%) from the 11,659 counted in the 2000 Census, which had in turn increased by 31 (+0.3%) from the 11,628 counted in the 1990 Census.

8. Watchung

Watchung, New Jersey

Source: Public domain

Population: 5,944
Median Income: $126,250
Unemployment Rate: 2.4%
Poverty Rate: 3.0%
More on Watchung: Homes For Sale | Data
Watchung is a borough in Somerset County, New Jersey, United States. As of the 2010 United States Census, the borough’s population was 5,801, reflecting an increase of 188 (+3.3%) from the 5,613 counted in the 2000 Census, which had in turn increased by 503 (+9.8%) from the 5,110 counted in the 1990 Census.

9. Mendham

Mendham, New Jersey

Population: 5,012
Median Income: $138,241
Unemployment Rate: 3.4%
Poverty Rate: 3.8%
More on Mendham: Homes For Sale | Data

10. Englewood Cliffs

Englewood Cliffs, New Jersey

Source: Public domain

Population: 5,405
Median Income: $131,936
Unemployment Rate: 2.9%
Poverty Rate: 3.8%
More on Englewood Cliffs: Homes For Sale | Data

There You Have It – The Wealthiest Places In New Jersey For 2018

Like we said earlier, when we set out to identify the richest places in New Jersey, we weren’t sure what we’d encounter, but it ended up being some of the best places to live in New Jersey.

When you look at the data, the cities and places mentioned above meet the criteria for being at the very top of the income ladder for everyone that lives there.

If you’re curious enough, here are the poorest cities in New Jersey, according to data:

Poorest: Camden
2nd Poorest: Atlantic City
3rd Poorest: Newark

For more New Jersey reading , check out:

  • 10 Cheapest Places To Live In New Jersey
  • 10 Best Places To Raise A Family In New Jersey
  • 10 Safest Places In New Jersey
  • Detailed List Of The Richest Cities In New Jersey

    City Rank Median Income
    Woodcliff Lake 1 $150,862
    Bernardsville 2 $136,563
    North Caldwell 3 $188,897
    Chatham 4 $150,625
    Demarest 5 $150,139
    Little Silver 6 $137,652
    Haddonfield 7 $135,700
    Watchung 8 $126,250
    Mendham 9 $138,241
    Englewood Cliffs 10 $131,936
    Rumson 11 $135,089
    Fair Haven 12 $161,131
    Westfield 13 $150,486
    Morris Plains 14 $123,263
    Franklin Lakes 15 $160,000
    Upper Saddle River 16 $171,747
    New Providence 17 $139,375
    Glen Rock 18 $159,247
    Oradell 19 $145,761
    Cresskill 20 $117,164
    River Edge 21 $111,250
    Norwood 22 $112,031
    Rockaway 23 $79,602
    Summit 24 $136,491
    Metuchen 25 $112,561
    Oakland 26 $112,917
    Ramsey 27 $133,702
    Glen Ridge 28 $170,839
    Midland Park 29 $99,436
    Ringwood 30 $114,458
    Paramus 31 $101,793
    Tenafly 32 $144,353
    Ridgewood 33 $144,734
    Madison 34 $120,608
    Dumont 35 $96,395
    Closter 36 $128,674
    Lincoln Park 37 $83,750
    Princeton 38 $118,467
    Hillsdale 39 $118,138
    Fanwood 40 $119,383
    Fair Lawn 41 $102,716
    Manasquan 42 $98,603
    Waldwick 43 $110,089
    Mountainside 44 $122,500
    Linwood 45 $84,021
    Allendale 46 $151,641
    Haddon Heights 47 $86,676
    Roseland 48 $96,250
    Kenilworth 49 $101,250
    Edgewater 50 $102,355
    Florham Park 51 $116,528
    Kinnelon 52 $133,000
    Hoboken 53 $118,479
    Butler 54 $96,647
    Park Ridge 55 $103,700
    Westwood 56 $89,817
    Boonton 57 $90,082
    Middlesex 58 $82,663
    Morristown 59 $83,036
    West Long Branch 60 $85,640
    Secaucus 61 $94,160
    Mount Arlington 62 $85,282
    Hawthorne 63 $89,472
    Raritan 64 $72,981
    Wood-Ridge 65 $100,169
    Rutherford 66 $87,587
    Pompton Lakes 67 $91,604
    Audubon 68 $77,066
    Maywood 69 $86,155
    Point Pleasant 70 $87,826
    Old Tappan 71 $133,750
    Bergenfield 72 $81,042
    Carlstadt 73 $84,268
    Wanaque 74 $81,267
    South Plainfield 75 $91,957
    Elmwood Park 76 $73,837
    North Haledon 77 $100,724
    Collingswood 78 $62,524
    North Arlington 79 $76,698
    Leonia 80 $88,401
    Caldwell 81 $75,583
    Spotswood 82 $74,668
    Matawan 83 $83,146
    Berlin 84 $87,697
    Hasbrouck Heights 85 $82,870
    Montvale 86 $111,436
    Totowa 87 $96,573
    Clifton 88 $71,830
    Somerville 89 $68,393
    Barrington 90 $68,167
    Englewood 91 $77,272
    Oceanport 92 $106,648
    Bound Brook 93 $66,300
    New Milford 94 $80,709
    Emerson 95 $109,613
    Dover 96 $64,310
    East Rutherford 97 $76,771
    Fort Lee 98 $75,449
    North Plainfield 99 $72,139
    Highland Park 100 $67,829

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