Wealth Index
Least wealthy county 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 | Cumberland County | New Jersey Avg | US Average |
|---|---|---|---|
| Median Household Income | $66,332 | $101,200 | $78,145 |
| Median Personal Income | $49,845 | $76,824 | $61,726 |
| Average income growth | 4.3% | 4.6% | 5.1% |
| Six-Figure Earners | 6.7% | 19.2% | 13.2% |
The median household income in Cumberland County is about 34% lower than in New Jersey. Income has been growing slower in Cumberland County (4.3%/yr) than in New Jersey (4.6%/yr).
About 7% of adults in Cumberland 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 Cumberland County, New Jersey grew by 32.5% from 2009 to 2023, reaching $66,332 in 2023. That's an average of about 4.3% per year.
Economic Inequality in Cumberland County | Gender Pay Gap | Gini Coefficient
| Metric | Cumberland County | New Jersey Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.562 | 0.570 | 0.570 |
| Male Median Income | $53,203 | $85,325 | $67,746 |
| Female Median Income | $46,488 | $68,761 | $54,793 |
| Gender Pay Gap | 12.6% | 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 Cumberland County, it is 0.562, lower than New Jersey's 0.570, so income is more evenly distributed here than there.
Men's income is about 14% more than women's income in Cumberland County, New Jersey. Over a 35-year career, a 14% wage gap accumulates to roughly $235,025 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Cumberland County, New Jersey has narrowed from about 24% to 13% in 2023. In dollar terms, the gap has narrowed by $4,287 since 2009.
Employment
| Metric | Cumberland County | New Jersey Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 7.5% | 6.1% | 5.2% |
| Working from Home | 4.9% | 15.0% | 13.4% |
| Commute time (minutes) | 20 | 26 | 22 |
Approximately 5,152 people are unemployed in Cumberland County, New Jersey.
The average commute time in Cumberland County is 20 minutes, shorter than the 26 minutes in New Jersey.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Cumberland County, New Jersey has fallen from 12.7% to 7.5% in 2023.
Conclusion
Considering all these factors, Cumberland County, New Jersey has an overall wealth index grade of D, making it somewhat worse than New Jersey, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Cumberland County, New Jersey.
How Rich Is Cumberland County, New Jersey?
Cumberland County has a wealth index grade of D. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a D grade means residents are somewhat worse off than the U.S. average. The median household income is $66,332, about 34% lower than the New Jersey average of $101,200.
What is the current median household income in Cumberland County, New Jersey?
As of 2023, the median household income in Cumberland County, New Jersey is $66,332.
What was the median household income in Cumberland County in 2023?
In 2023, the median household income in Cumberland County, New Jersey was $66,332.
What was the median household income in Cumberland County in 2020?
In 2020, the median household income in Cumberland County, New Jersey was $56,565.
What is the Gini coefficient in Cumberland County, New Jersey?
The Gini coefficient in Cumberland County is 0.562. 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 Cumberland County, New Jersey?
Since 2009, the income gap between men and women in Cumberland County, New Jersey has narrowed from about 24% to 13% in 2023. In dollar terms, the gap has narrowed by $4,287 since 2009.