Princeton, New Jersey Income Statistics
Princeton 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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B
Princeton Around average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Princeton | New Jersey Avg | US Average |
|---|---|---|---|
| Median Household Income | $195,703 | $103,817 | $80,455 |
| Median Personal Income | $118,827 | $76,200 | $60,758 |
| Average Yearly Income Growth | 6.8% | 4.4% | 4.8% |
| Six-Figure Earners | 29.2% | 19.9% | 13.9% |
| $200k+ Households | 49.2% | 21.6% | 13.2% |
The median household income in Princeton is about 89% higher than in New Jersey. Income has been growing faster in Princeton (6.8%/yr) than in New Jersey (4.4%/yr).
About 29% of adults in Princeton earn six figures ($100,000 or more) a year, higher than the New Jersey average of 20%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Princeton, New Jersey grew by 82.1% from 2009 to 2024, reaching $195,703 in 2024. That's an average of about 6.8% per year.
Income Inequality and the Gender Pay Gap in Princeton
| Metric | Princeton | New Jersey Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.587 | 0.544 | 0.552 |
| Male Median Income | $121,702 | $87,197 | $69,667 |
| Female Median Income | $115,361 | $70,502 | $56,850 |
| Gender Pay Gap | 5.2% | 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 Princeton, it is 0.587, 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 5% more than women's income in Princeton, New Jersey. Over a 35-year career, a 5% wage gap accumulates to roughly $221,935 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Princeton, New Jersey has narrowed from about 32% to 5% in 2024. Over that period the gap was widest at 37% in 2011, and was narrowest at 4% in 2022. In dollar terms, the gap has narrowed by $26,482 since 2009.
Employment
| Metric | Princeton | New Jersey Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.3% | 6.3% | 5.2% |
| Working from Home | 32.7% | 16.8% | 15.0% |
| Commute time (minutes) | 16 | 26 | 22 |
Approximately 706 people are unemployed in Princeton, New Jersey.
The average commute time in Princeton is 16 minutes, shorter than the 26 minutes in New Jersey.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Princeton, New Jersey has fallen from 6.6% to 4.3% in 2024. Over that period the rate peaked at 7.9% in 2012 and fell as low as 3.3% in 2018.
Conclusion
Considering all these factors, Princeton, New Jersey has an overall wealth index grade of B, making it somewhat better than New Jersey, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Princeton, New Jersey.
How Rich Is Princeton, New Jersey?
Princeton 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 $195,703, about 89% higher than the New Jersey average of $103,817.
How fast is household income rising in Princeton, New Jersey?
Between 2009 and 2024, the median household income in Princeton, New Jersey rose 82%, from $107,455 to $195,703. Over the same years, income here outpaced New Jersey as a whole: +82% against +50%.
What was the median household income in Princeton in 2023?
In 2023, the median household income in Princeton, New Jersey was $186,359, up 5% from $177,375 in 2022. The New Jersey median that year was $101,191.
What was the median household income in Princeton in 2020?
In 2020, the median household income in Princeton, New Jersey was $147,861. By 2024 it had risen 32% to $195,703.
Do many residents of Princeton, New Jersey earn over $100,000?
Yes. 29% of adults in Princeton, New Jersey earn $100,000 or more a year (about 1 in 3), against 20% (about 1 in 5) in New Jersey. 49% of households have a combined income of $200,000 or more, compared with 22% in New Jersey.
Is it hard to find a job in Princeton, New Jersey?
Unemployment in Princeton, New Jersey is only 4.3%, well below the New Jersey rate of 6.3%, a sign of a tight labor market where employers compete for workers.
What is the Gini coefficient in Princeton, New Jersey?
The Gini coefficient in Princeton is 0.587. 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 Princeton, New Jersey?
Since 2009, the income gap between men and women in Princeton, New Jersey has narrowed from about 32% to 5% in 2024. Over that period the gap was widest at 37% in 2011, and was narrowest at 4% in 2022. In dollar terms, the gap has narrowed by $26,482 since 2009.
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