Wealth Index
Less wealthy than 70% 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 | Camden County | New Jersey Avg | US Average |
|---|---|---|---|
| Median Household Income | $86,896 | $101,200 | $78,145 |
| Median Personal Income | $66,979 | $76,824 | $61,726 |
| Average income growth | 4.7% | 4.6% | 5.1% |
| Six-Figure Earners | 14.3% | 19.2% | 13.2% |
The median household income in Camden County is about 14% lower than in New Jersey. Income has been growing faster in Camden County (4.7%/yr) than in New Jersey (4.6%/yr).
About 14% of adults in Camden County earn six figures ($100,000 or more) a year, lower than the New Jersey average of 19%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Camden County, New Jersey grew by 43.9% from 2009 to 2023, reaching $86,896 in 2023. That's an average of about 4.7% per year.
Economic Inequality in Camden County | Gender Pay Gap | Gini Coefficient
| Metric | Camden County | New Jersey Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.556 | 0.570 | 0.570 |
| Male Median Income | $72,255 | $85,325 | $67,746 |
| Female Median Income | $61,458 | $68,761 | $54,793 |
| Gender Pay Gap | 14.9% | 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 Camden County, it is 0.556, lower than New Jersey's 0.570, so income is more evenly distributed here than there.
Men's income is about 18% more than women's income in Camden County, New Jersey. Over a 35-year career, a 18% wage gap accumulates to roughly $377,895 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Camden County, New Jersey has narrowed from about 22% to 15% in 2023. In dollar terms, the gap has narrowed by $938 since 2009.
Employment
| Metric | Camden County | New Jersey Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.9% | 6.1% | 5.2% |
| Working from Home | 13.7% | 15.0% | 13.4% |
| Commute time (minutes) | 23 | 26 | 22 |
Approximately 19,308 people are unemployed in Camden County, New Jersey.
The average commute time in Camden County is 23 minutes, shorter than the 26 minutes in New Jersey.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Camden County, New Jersey has fallen from 10.4% to 6.9% in 2023.
Conclusion
Considering all these factors, Camden County, New Jersey has an overall wealth index grade of B, making it about on par with New Jersey, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Camden County, New Jersey.
How Rich Is Camden County, New Jersey?
Camden County has a wealth index grade of B. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a B grade means residents are quite well off compared to the U.S. average. The median household income is $86,896, about 14% lower than the New Jersey average of $101,200.
What is the current median household income in Camden County, New Jersey?
As of 2023, the median household income in Camden County, New Jersey is $86,896.
What was the median household income in Camden County in 2023?
In 2023, the median household income in Camden County, New Jersey was $86,896.
What was the median household income in Camden County in 2020?
In 2020, the median household income in Camden County, New Jersey was $70,650.
What is the Gini coefficient in Camden County, New Jersey?
The Gini coefficient in Camden County is 0.556. 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 Camden County, New Jersey?
Since 2009, the income gap between men and women in Camden County, New Jersey has narrowed from about 22% to 15% in 2023. In dollar terms, the gap has narrowed by $938 since 2009.