Richest Cities In New Jersey For 2020


We analyzed 188 places in New Jersey to determine where the 1% live.

Editor’s Note: Data has been updated for 2020. This is our fifth time ranking the richest cities in New Jersey.

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It's true what you read about New Jersey in the news: there are cities in this state that make Long Island, NY look like the home of the middle class.

We know that New Jerseyites can make an amazing bagel, they are one of the top producers of cranberries, and most of the drugmakers call it home, but what is it that keeps this larger than life state ticking? That folks, would be the millionaires that call it home. Curious to know where the 'Richie Rich' of New Jersey live? We've done the work for you with the top ten richest cities in New Jersey for 2020 list.

To create this list, we asked ourselves, what is important to rich people in New Jersey? Besides the obvious: high paying jobs, affluent neighborhoods, and crazy expensive beach houses at the Jersey Shore; the cities on our list had to cater to the 'one percent' on a different level, they had to be super posh posh.

How does one get their hand on one of these New Jersey cities; where living your best life requires a substantial amount of money? Well, a couple of things have to fall into place for you. You can marry a New Jersey Housewife or you can find a job that pays on average $160,000/year. Might we suggest a job in banking? Someone has to help all of those rich New Jerseyites manage their money. Wealthy people want to live in the best cities, so it's not lost on us that there are multiple cities on our best places to live in New Jersey for 2020 that are also on our richest list.

To see which cities make the dolla' holla' on our wealthiest cities in The Garden State for 2020, grab an O'Bagel, a glass of cranberry juice, and read on.

In all seriousness, we narrowed down the richest cities in New Jersey by looking at several factors: poverty rate, median household income, unemployment rate; and obviously, where Jersey's filthy rich like to hang. The cities also had to have a population of at least 5,000.

And the winner is -- North Caldwell. You better have deep pockets if you want to live in North Caldwell, folks.

So where exactly is the money located in the great state of New Jersey? Continue reading as we unravel the richest cities in New Jersey for 2020. And if you don't see your city there, head to the bottom.

Rich people not your cup of tea? Feel free to check out some more reading about New Jersey:

The 10 Richest Cities In New Jersey For 2020

North Caldwell, NJ

Overall SnackAbility

10
/10

Population: 6,621
Rank Last Year: 2 (Up 1)
Median Income: $190,028
Unemployment Rate: 1.9%
Poverty Rate: 1.8%
More on North Caldwell: Real Estate | Data | Photos

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 from the 7,375 counted in the 2000 Census, which had in turn increased by 669 from the 6,706 counted in the 1990 Census.

Haddonfield, NJ

Source: Public domain
Overall SnackAbility

10
/10

Population: 11,369
Rank Last Year: 6 (Up 4)
Median Income: $145,850
Unemployment Rate: 2.5%
Poverty Rate: 1.7%
More on Haddonfield: Real Estate | Data | Photos

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 from the 11,659 counted in the 2000 Census, which had in turn increased by 31 from the 11,628 counted in the 1990 Census.

Woodcliff Lake, NJ

Overall SnackAbility

10
/10

Population: 5,816
Rank Last Year: 1 (Down 2)
Median Income: $167,344
Unemployment Rate: 2.6%
Poverty Rate: 2.7%
More on Woodcliff Lake: Real Estate | Data | Photos

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 from the 5,745 counted in the 2000 Census, which had in turn increased by 442 from the 5,303 counted in the 1990 Census. Most of the borough mandates a minimum lot size of 22,500 square feet for single-family homes, with portions on the borough's east zoned for 15,000 square feet and portions of the borough's northwest and southwest zoned for 30,000 square feet lots.

Rumson, NJ

Overall SnackAbility

10
/10

Population: 6,805
Rank Last Year: 11 (Up 7)
Median Income: $177,857
Unemployment Rate: 2.9%
Poverty Rate: 2.9%
More on Rumson: Real Estate | Data | Photos

Rumson is a borough in Monmouth County, New Jersey, United States and is part of the New York Metropolitan Area. As of the 2010 census, the borough's population was 7,122, reflecting a decline of 15 from 7,137 in 2000, which had in turn increased by 436 from 6,701 in 1990.

Westfield, NJ

Overall SnackAbility

7
/10

Population: 30,086
Rank Last Year: 8 (Up 3)
Median Income: $168,721
Unemployment Rate: 3.3%
Poverty Rate: 2.9%
More on Westfield: Real Estate | Data | Photos

Westfield is a town in Union County of New Jersey, United States. As of the 2010 United States Census, the town's population was 30,316, reflecting an increase of 672 from the 29,644 counted in the 2000 Census, which had in turn increased by 774 from the 28,870 counted in the 1990 Census. According to a 2014 nationwide survey, Westfield is considered to be the 30th-safest city to live in the United States.

Englewood Cliffs, NJ

Source: Public domain
Overall SnackAbility

10
/10

Population: 5,356
Rank Last Year: 4 (Down 2)
Median Income: $145,729
Unemployment Rate: 3.6%
Poverty Rate: 1.7%
More on Englewood Cliffs: Real Estate | Data | Photos

Ramsey, NJ

Overall SnackAbility

7
/10

Population: 14,963
Rank Last Year: 5 (Down 2)
Median Income: $144,606
Unemployment Rate: 3.4%
Poverty Rate: 2.2%
More on Ramsey: Real Estate | Data | Photos

Ramsey is a borough in Bergen County, New Jersey, United States. It is a suburb of New York City, located 26 miles northwest of Midtown Manhattan. As of the 2010 United States Census, the borough's population was 14,473, reflecting an increase of 122 from the 14,351 counted in the 2000 Census, which had in turn increased by 1,123 from the 13,228 counted in the 1990 Census.

Cresskill, NJ

Overall SnackAbility

10
/10

Population: 8,730
Rank Last Year: 3 (Down 5)
Median Income: $138,256
Unemployment Rate: 1.9%
Poverty Rate: 4.1%
More on Cresskill: Real Estate | Data | Photos

Cresskill is a borough in Bergen County, New Jersey, United States. As of the 2010 United States Census, the borough's population was 8,573, reflecting an increase of 827 from the 7,746 counted in the 2000 Census, which had in turn increased by 188 from the 7,558 counted in the 1990 Census. This town got its name from "Cress", referring to the watercress which grew in its streams, and "Kill", referring to the stream passing through.

Glen Rock, NJ

Overall SnackAbility

10
/10

Population: 11,826
Rank Last Year: 14 (Up 5)
Median Income: $166,450
Unemployment Rate: 3.5%
Poverty Rate: 3.1%
More on Glen Rock: Real Estate | Data | Photos

Glen Rock is a borough in Bergen County, New Jersey, United States. As of the 2010 United States Census, the borough's population was 11,601, reflecting an increase of 55 from the 11,546 counted in the 2000 Census, which had in turn increased by 663 from the 10,883 counted in the 1990 Census.

Overall SnackAbility

10
/10

Population: 5,849
Rank Last Year: 37 (Up 27)
Median Income: $126,250
Unemployment Rate: 2.5%
Poverty Rate: 3.0%
More on Roseland: Real Estate | Data

Roseland is a borough in western Essex County, New Jersey, United States. As of the 2010 United States Census, the borough's population was 5,819, reflecting an increase of 521 from the 5,298 counted in the 2000 Census, which had in turn increased by 451 from the 4,847 counted in the 1990 Census.

How We Determined The Richest Places In New Jersey For 2020

Map Of The Richest Places To Live In New Jersey
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 2014-2018 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 188 places with more than 5,000 people in New Jersey, we ranked each place from 1 to 188 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, North Caldwell, crowned the "Richest City In New Jersey For 2020". You can download the data here.

You can learn more about the top ten below or skip to the end to see the rankings for all 188 places.

There You Have It - The Wealthiest Places In New Jersey For 2020

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

For more New Jersey reading, check out:

Detailed List Of The Richest Cities In New Jersey

Rank City RichScore Median Income
1 North Caldwell 5.67 $190,028
2 Haddonfield 12.0 $145,850
3 Woodcliff Lake 13.0 $167,344
4 Rumson 14.33 $177,857
5 Westfield 18.0 $168,721
6 Englewood Cliffs 21.33 $145,729
7 Ramsey 21.67 $144,606
8 Cresskill 22.33 $138,256
9 Glen Rock 22.67 $166,450
10 Roseland 23.33 $126,250
11 Tenafly 23.67 $159,722
12 Glen Ridge 25.67 $213,801
13 Watchung 26.0 $153,341
14 Closter 27.0 $132,544
15 Norwood 27.0 $127,386
16 Hillsdale 29.0 $140,694
17 Metuchen 31.33 $124,317
18 Waldwick 33.0 $119,434
19 Franklin Lakes 33.0 $159,883
20 Ridgewood 34.33 $168,608
21 Midland Park 35.0 $119,231
22 Park Ridge 35.0 $118,560
23 Ringwood 36.0 $128,093
24 River Edge 37.0 $123,409
25 Fair Haven 37.0 $170,625
26 Little Silver 37.33 $162,232
27 Bernardsville 37.67 $159,909
28 Princeton 38.0 $138,194
29 Emerson 38.33 $123,808
30 Upper Saddle River 38.67 $167,589
31 Chatham 39.0 $169,524
32 Paramus 41.33 $117,087
33 Oradell 42.67 $146,103
34 Fair Lawn 43.33 $115,512
35 New Providence 43.67 $134,141
36 Oakland 44.0 $117,996
37 Westwood 45.33 $102,938
38 Rockaway 47.33 $87,083
39 Allendale 47.67 $158,977
40 Totowa 48.33 $101,321
41 Madison 48.33 $133,125
42 Morris Plains 49.67 $125,333
43 Mountainside 50.67 $125,694
44 Hawthorne 51.0 $96,250
45 Bergenfield 51.67 $96,713
46 Kinnelon 52.67 $156,048
47 Lincoln Park 53.0 $92,346
48 Butler 54.0 $95,917
49 Kenilworth 54.0 $98,624
50 Hoboken 54.67 $136,402
51 Florham Park 57.33 $127,695
52 Summit 58.0 $146,755
53 Carlstadt 58.33 $100,792
54 Morristown 59.33 $95,885
55 Linwood 59.33 $95,034
56 Pompton Lakes 62.0 $97,782
57 Fanwood 62.67 $133,452
58 Tinton Falls 62.67 $83,662
59 Leonia 63.33 $96,131
60 Hasbrouck Heights 63.67 $91,911
61 Haddon Heights 66.33 $95,230
62 Matawan 66.67 $94,375
63 Manasquan 66.67 $112,375
64 Secaucus 67.67 $101,184
65 West Long Branch 69.0 $104,566
66 Raritan 69.33 $78,404
67 Middlesex 69.67 $71,061
68 Edgewater 70.67 $107,143
69 Boonton 71.0 $88,633
70 Wanaque 72.0 $90,091
71 North Haledon 72.33 $99,613
72 Oceanport 72.67 $104,688
73 South Plainfield 73.67 $100,782
74 Mount Arlington 73.67 $89,063
75 Caldwell 73.67 $87,727
76 Jamesburg 74.0 $76,442
77 Bound Brook 74.67 $69,467
78 Dumont 74.67 $96,017
79 East Rutherford 75.33 $78,429
80 Point Pleasant 75.67 $92,278
81 Hopatcong 79.0 $84,213
82 Audubon 79.67 $81,884
83 Ridgefield Park 80.67 $80,450
84 Barrington 81.0 $75,720
85 Old Tappan 81.0 $137,132
86 Maywood 82.33 $88,143
87 Montvale 85.0 $128,641
88 Rutherford 86.0 $96,384
89 Margate City 86.67 $79,375
90 New Milford 87.0 $91,900
91 Somerville 87.67 $75,718
92 Wood-Ridge 88.33 $92,989
93 Berlin 88.67 $93,261
94 Ocean City 89.67 $70,871
95 Bloomingdale 91.0 $89,471
96 Elmwood Park 92.33 $77,887
97 Fort Lee 95.67 $78,093
98 Spotswood 96.0 $76,055
99 Woodland Park 100.0 $76,068
100 Manville 100.0 $69,654

How Is The Area In ?

About Chris Kolmar

Chris Kolmar has been in the real estate business for almost ten years now. He originally worked for Movoto Real Estate as the director of marketing before founding HomeSnacks.

He believes the key to finding the right place to live comes down to looking at the data, reading about things to do, and, most importantly, checking it out yourself before you move.

If you've been looking for a place to live in the past several years, you've probably stumbled upon his writing already.

You can find out more about him on LinkedIn or his website.

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