Carteret, New Jersey Income Statistics
Carteret Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of an area's residents based on income levels, employment rates, and income inequality metrics.
-
C
Carteret Below average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Carteret | New Jersey Avg | US Average |
|---|---|---|---|
| Median Household Income | $96,231 | $103,817 | $80,455 |
| Median Personal Income | $57,901 | $76,200 | $60,758 |
| Average Yearly Income Growth | 4.7% | 4.4% | 4.8% |
| Six-Figure Earners | 13.7% | 19.9% | 13.9% |
| $200k+ Households | 13.7% | 21.6% | 13.2% |
The median household income in Carteret is about 7% lower than in New Jersey. Income has been growing faster in Carteret (4.7%/yr) than in New Jersey (4.4%/yr).
About 14% of adults in Carteret earn six figures ($100,000 or more) a year, lower than the New Jersey average of 20%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Carteret, New Jersey grew by 72.6% from 2009 to 2024, reaching $96,231 in 2024. That's an average of about 4.7% per year.
Income Inequality and the Gender Pay Gap in Carteret
| Metric | Carteret | New Jersey Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.567 | 0.544 | 0.552 |
| Male Median Income | $69,698 | $87,197 | $69,667 |
| Female Median Income | $63,811 | $70,502 | $56,850 |
| Gender Pay Gap | 8.4% | 19.1% | 18.4% |
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 Carteret, it is 0.567, higher than New Jersey's 0.544, so income is less evenly distributed here than there, and higher than the US's 0.552, so income is less evenly distributed here than there.
Men's income is about 9% more than women's income in Carteret, New Jersey. Over a 35-year career, a 9% wage gap accumulates to roughly $206,045 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Carteret, New Jersey has narrowed from about 9% to 8% in 2024. Over that period the gap was widest at 18% in 2015, and was narrowest at 1% in 2020. In dollar terms, the gap has widened by $1,225 since 2009.
Employment
| Metric | Carteret | New Jersey Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 10.2% | 6.3% | 5.2% |
| Working from Home | 11.1% | 16.8% | 15.0% |
| Commute time (minutes) | 30 | 26 | 22 |
Approximately 1,403 people are unemployed in Carteret, New Jersey.
The average commute time in Carteret is 30 minutes, longer than the 26 minutes in New Jersey.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Carteret, New Jersey has fallen from 11.9% to 10.2% in 2024. Over that period the rate peaked at 14.8% in 2013 and fell as low as 5.5% in 2019.
Carteret, NJ Wealth Compared With Nearby Cities
How Carteret, NJ compares with the 2 cities closest to it.
| Area | Population | Median household income | Income growthAverage yearly change in median household income since 2016. Each year is measured in its own dollars, so this is growth before inflation. | Unemployment | Income inequalityGini coefficient: 0 would mean every household earns the same, 1 that a single household earns everything. The lower the number, the more equally income is shared here. |
|---|---|---|---|---|---|
| Carteret, NJ | 25,402 | $96,231 #1/3 | 4.7%/yr #1/3 | 10.2% #3/3 | 0.567 #3/3 |
| Linden, NJ | 44,201 | $91,192 | 4.3%/yr | 9.5% | 0.528 |
| Rahway, NJ | 29,932 | $87,597 | 3.7%/yr | 7.2% | 0.528 |
Conclusion
Considering all these factors, Carteret, New Jersey has an overall wealth index grade of C, making it somewhat worse than New Jersey, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Carteret, New Jersey.
How Rich Is Carteret, New Jersey?
Carteret has a wealth index grade of C. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a C grade means residents are close to the U.S. average. The median household income is $96,231, about 7% lower than the New Jersey average of $103,817.
How has median household income changed in Carteret, New Jersey?
Between 2009 and 2024, the median household income in Carteret, New Jersey rose 73%, from $55,744 to $96,231. Over the same years, income here outpaced New Jersey as a whole: +73% against +50%.
What was the median household income in Carteret in 2023?
In 2023, the median household income in Carteret, New Jersey was $87,919, up 9% from $80,385 in 2022. The New Jersey median that year was $101,191.
What was the median household income in Carteret in 2020?
In 2020, the median household income in Carteret, New Jersey was $75,722. By 2024 it had risen 27% to $96,231.
How strong is the job market in Carteret, New Jersey?
Unemployment in Carteret, New Jersey is 10.2%, well above the New Jersey rate of 6.3%, so job seekers may face more competition than elsewhere.
What is the Gini coefficient in Carteret, New Jersey?
The Gini coefficient in Carteret is 0.567. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is higher than the US average of 0.552, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in Carteret, New Jersey?
Since 2009, the income gap between men and women in Carteret, New Jersey has narrowed from about 9% to 8% in 2024. Over that period the gap was widest at 18% in 2015, and was narrowest at 1% in 2020. In dollar terms, the gap has widened by $1,225 since 2009.
Analyze any area in the US
Get local demographics for any address, aggregated by drive time or radius, on the interactive map.
Explore the map →