Wealth Index
Wealthier than 75% of counties in New Jersey
The wealth index reflects the overall economic prosperity and financial well-being of a county's residents based on income levels, employment rates, and income inequality metrics.
Income Statistics Overview
| Metric | Bergen County | New Jersey Avg | US Average |
|---|---|---|---|
| Median Household Income | $123,939 | $101,200 | $78,145 |
| Median Personal Income | $89,211 | $76,824 | $61,726 |
| Average income growth | 4.8% | 4.6% | 5.1% |
| Six-Figure Earners | 24.1% | 19.2% | 13.2% |
The median household income in Bergen County is about 22% higher than in New Jersey. Income has been growing faster in Bergen County (4.8%/yr) than in New Jersey (4.6%/yr).
About 24% of adults in Bergen County earn six figures ($100,000 or more) a year, higher than the New Jersey average of 19%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Bergen County, New Jersey grew by 51.4% from 2009 to 2023, reaching $123,939 in 2023. That's an average of about 4.8% per year.
Economic Inequality in Bergen County | Gender Pay Gap | Gini Coefficient
| Metric | Bergen County | New Jersey Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.563 | 0.570 | 0.570 |
| Male Median Income | $98,729 | $85,325 | $67,746 |
| Female Median Income | $78,706 | $68,761 | $54,793 |
| Gender Pay Gap | 20.3% | 19.4% | 19.1% |
The Gini coefficient measures how evenly income is shared between richer and poorer households, from 0 (everyone earns the same) to 1 (one household earns nearly everything). The lower the number, the more equally income is distributed. In Bergen County, it is 0.563, lower than New Jersey's 0.570, so income is more evenly distributed here than there.
Men's income is about 25% more than women's income in Bergen County, New Jersey. Over a 35-year career, a 25% wage gap accumulates to roughly $700,805 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Bergen County, New Jersey has narrowed from about 24% to 20% in 2023. In dollar terms, the gap has widened by $4,536 since 2009.
Employment
| Metric | Bergen County | New Jersey Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.4% | 6.1% | 5.2% |
| Working from Home | 16.3% | 15.0% | 13.4% |
| Commute time (minutes) | 27 | 26 | 22 |
Approximately 28,533 people are unemployed in Bergen County, New Jersey.
The average commute time in Bergen County is 27 minutes, longer than the 26 minutes in New Jersey.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Bergen County, New Jersey has fallen from 6.4% to 5.4% in 2023.
Conclusion
Considering all these factors, Bergen County, New Jersey has an overall wealth index grade of A, making it somewhat better than New Jersey, and notably better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Bergen County, New Jersey.
How Rich Is Bergen County, New Jersey?
Bergen County has a wealth index grade of A. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; an A grade means residents are much better off than the U.S. average. The median household income is $123,939, about 22% higher than the New Jersey average of $101,200.
What is the current median household income in Bergen County, New Jersey?
As of 2023, the median household income in Bergen County, New Jersey is $123,939.
What was the median household income in Bergen County in 2023?
In 2023, the median household income in Bergen County, New Jersey was $123,939.
What was the median household income in Bergen County in 2020?
In 2020, the median household income in Bergen County, New Jersey was $105,225.
What is the Gini coefficient in Bergen County, New Jersey?
The Gini coefficient in Bergen County is 0.563. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is lower than the US average of 0.570, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Bergen County, New Jersey?
Since 2009, the income gap between men and women in Bergen County, New Jersey has narrowed from about 24% to 20% in 2023. In dollar terms, the gap has widened by $4,536 since 2009.