Lakewood, New Jersey Income Statistics
Lakewood 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.
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D
Lakewood Well below average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Lakewood | New Jersey Avg | US Average |
|---|---|---|---|
| Median Household Income | $59,731 | $103,817 | $80,455 |
| Median Personal Income | $54,922 | $76,200 | $60,758 |
| Average Yearly Income Growth | 5.2% | 4.4% | 4.8% |
| Six-Figure Earners | 9.1% | 19.9% | 13.9% |
| $200k+ Households | 10.4% | 21.6% | 13.2% |
The median household income in Lakewood is about 42% lower than in New Jersey. Income has been growing faster in Lakewood (5.2%/yr) than in New Jersey (4.4%/yr).
About 9% of adults in Lakewood 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 Lakewood, New Jersey grew by 64.8% from 2009 to 2024, reaching $59,731 in 2024. That's an average of about 5.2% per year.
Income Inequality and the Gender Pay Gap in Lakewood
| Metric | Lakewood | New Jersey Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.678 | 0.544 | 0.552 |
| Male Median Income | $68,489 | $87,197 | $69,667 |
| Female Median Income | $52,148 | $70,502 | $56,850 |
| Gender Pay Gap | 23.9% | 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 Lakewood, it is 0.678, 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 31% more than women's income in Lakewood, New Jersey. Over a 35-year career, a 31% wage gap accumulates to roughly $571,935 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Lakewood, New Jersey has widened from about 21% to 24% in 2024. Over that period the gap was widest at 36% in 2019, and was narrowest at 20% in 2012. In dollar terms, the gap has widened by $9,108 since 2009.
Sharply against the trend: the pay gap in Lakewood widened by 3.2 points while New Jersey's narrowed by 4.5 points.
Employment
| Metric | Lakewood | New Jersey Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.4% | 6.3% | 5.2% |
| Working from Home | 16.9% | 16.8% | 15.0% |
| Commute time (minutes) | 16 | 26 | 22 |
Approximately 1,215 people are unemployed in Lakewood, New Jersey.
The average commute time in Lakewood is 16 minutes, shorter than the 26 minutes in New Jersey.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Lakewood, New Jersey has fallen from 7.8% to 6.4% in 2024. Over that period the rate fell as low as 4.7% in 2019.
Conclusion
Considering all these factors, Lakewood, New Jersey has an overall wealth index grade of D, making it worse than New Jersey, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Lakewood, New Jersey.
How Rich Is Lakewood, New Jersey?
Lakewood 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 $59,731, about 42% lower than the New Jersey average of $103,817.
How fast is household income rising in Lakewood, New Jersey?
Between 2009 and 2024, the median household income in Lakewood, New Jersey rose 65%, from $36,244 to $59,731. Over the same years, income here outpaced New Jersey as a whole: +65% against +50%.
What was the median household income in Lakewood in 2023?
In 2023, the median household income in Lakewood, New Jersey was $58,035, up 4% from $55,760 in 2022. The New Jersey median that year was $101,191.
What was the median household income in Lakewood in 2020?
In 2020, the median household income in Lakewood, New Jersey was $49,023. By 2024 it had risen 22% to $59,731.
What is the Gini coefficient in Lakewood, New Jersey?
The Gini coefficient in Lakewood is 0.678. 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 Lakewood, New Jersey?
Since 2009, the income gap between men and women in Lakewood, New Jersey has widened from about 21% to 24% in 2024. Over that period the gap was widest at 36% in 2019, and was narrowest at 20% in 2012. In dollar terms, the gap has widened by $9,108 since 2009.
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