These Are The 10 Richest Cities In New Jersey For 2018

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.

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.

1. Woodcliff Lake

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

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

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

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

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

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

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

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

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

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