Wealth Index
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 | Secaucus | New Jersey Avg | US Average |
|---|---|---|---|
| Median Household Income | $133,114 | $101,200 | $78,145 |
| Median Personal Income | $133,114 | $101,200 | $78,145 |
| Average income growth | 5.0% | 5.0% | 5.0% |
The median household income in Secaucus is about 32% higher than in New Jersey. Income has been growing faster in Secaucus (5.0%/yr) than in New Jersey (4.6%/yr).
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Secaucus, New Jersey grew by 65.1% from 2009 to 2023, reaching $133,114 in 2023. That's an average of about 4.7% per year.
Economic Inequality in Secaucus | Gender Pay Gap | Gini Coefficient
| Metric | Secaucus | New Jersey Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.564 | 0.570 | 0.570 |
| Male Median Income | $118,152 | $85,325 | $67,746 |
| Female Median Income | $83,450 | $68,761 | $54,793 |
| Gender Pay Gap | 29.4% | 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 Secaucus, it is 0.564, lower than New Jersey's 0.570, so income is more evenly distributed here than there.
Men's income is about 42% more than women's income in Secaucus, New Jersey.
Income by Sex Over Time
Since 2009, the income gap between men and women in Secaucus, New Jersey has widened from about 10% to 29% in 2023.
Employment
| Metric | Secaucus | New Jersey Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.1% | 6.1% | 5.2% |
| Working from Home | 22.9% | 15.0% | 13.4% |
| Commute time (minutes) | 31 | 26 | 22 |
The average commute time in Secaucus is 31 minutes, longer than the 26 minutes in New Jersey.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Secaucus, New Jersey has risen from 5.6% to 6.1% in 2023.
Conclusion
Considering all these factors, Secaucus, New Jersey has an overall wealth index grade of A, making it somewhat better than New Jersey, and notably better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Secaucus, New Jersey.
How Rich Is Secaucus, New Jersey?
Secaucus has a wealth index grade of A. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; an A grade means residents are much better off than the U.S. average. The median household income is $133,114, about 32% higher than the New Jersey average of $101,200.
What is the current median household income in Secaucus, New Jersey?
As of 2023, the median household income in Secaucus, New Jersey is $133,114.
What was the median household income in Secaucus in 2023?
In 2023, the median household income in Secaucus, New Jersey was $133,114.
What was the median household income in Secaucus in 2020?
In 2020, the median household income in Secaucus, New Jersey was $125,159.
What is the Gini coefficient in Secaucus, New Jersey?
The Gini coefficient in Secaucus is 0.564. 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 Secaucus, New Jersey?
Since 2009, the income gap between men and women in Secaucus, New Jersey has widened from about 10% to 29% in 2023.