Somerset County, New Jersey Income Statistics
Somerset County Wealth Score
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.
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A+
Somerset County Top gradeAmong the top 3 wealthiest counties in New Jersey
Source: Map AI Methodology
Income Statistics Overview
| Metric | Somerset County | New Jersey Avg | US Average |
|---|---|---|---|
| Median Household Income | $140,426 | $103,817 | $80,455 |
| Median Personal Income | $94,834 | $76,200 | $60,758 |
| Average Yearly Income Growth | 3.9% | 4.4% | 4.8% |
| Six-Figure Earners | 28.1% | 19.9% | 13.9% |
| $200k+ Households | 33.8% | 21.6% | 13.2% |
The median household income in Somerset County is about 35% higher than in New Jersey. Income has been growing slower in Somerset County (3.9%/yr) than in New Jersey (4.4%/yr).
About 28% of adults in Somerset County 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 Somerset County, New Jersey grew by 45.6% from 2009 to 2024, reaching $140,426 in 2024. That's an average of about 3.9% per year.
Income Inequality and the Gender Pay Gap in Somerset County
| Metric | Somerset County | New Jersey Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.515 | 0.544 | 0.552 |
| Male Median Income | $107,285 | $87,197 | $69,667 |
| Female Median Income | $83,537 | $70,502 | $56,850 |
| Gender Pay Gap | 22.1% | 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 Somerset County, it is 0.515, lower than New Jersey's 0.544, so income is more evenly distributed here than there, and lower than the US's 0.552, so income is more evenly distributed here than there.
Men's income is about 28% more than women's income in Somerset County, New Jersey. Over a 35-year career, a 28% wage gap accumulates to roughly $831,180 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Somerset County, New Jersey has narrowed from about 24% to 22% in 2024. Over that period the gap was widest at 27% in 2020. In dollar terms, the gap has widened by $5,367 since 2009.
Employment
| Metric | Somerset County | New Jersey Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.7% | 6.3% | 5.2% |
| Working from Home | 22.7% | 16.8% | 15.0% |
| Commute time (minutes) | 26 | 26 | 22 |
Approximately 9,483 people are unemployed in Somerset County, New Jersey.
The average commute time in Somerset County is 26 minutes, about the same as in New Jersey.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Somerset County, New Jersey has fallen from 6.4% to 4.7% in 2024. Over that period the rate peaked at 7.2% in 2013 and fell as low as 4.4% in 2020.
Somerset County, NJ Wealth Compared With Nearby Counties
Somerset County, NJ is the 5th largest of the 6 counties compared here, 349,714 residents against a local median of 514,287. Where Somerset County, NJ breaks from the counties next to it is median household income, sitting 25% above the local median of $112,064 at $140,426. That is the better end of the local range on this measure.
Unemployment tells the same story from another angle: 4.7% against a local median of 6.3%, 25% below it. Every measure here with a clear better direction points the same way, so Somerset County, NJ is not trading one advantage for another, it reads stronger than its neighbours across the board. The counties themselves spread $41,670 on median household income, so Somerset County, NJ sits at one end of an already wide local range rather than apart from it. Somerset County, NJ has the 2nd highest median household income of the 6 areas compared here.
| 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. |
|---|---|---|---|---|---|
| Somerset County, NJ | 349,714 | $140,426 #2/6 | 3.9%/yr #4/6 | 4.7% #2/6 | 0.515 #2/6 |
| Middlesex County, NJ | 870,701 | $112,064 | 4.2%/yr | 6.7% | 0.552 |
| Mercer County, NJ | 385,681 | $100,788 | 3.9%/yr | 6.3% | 0.552 |
| Hunterdon County, NJ | 130,145 | $142,458 | 3.3%/yr | 4.6% | 0.510 |
| Morris County, NJ | 514,287 | $137,937 | 3.6%/yr | 5.2% | 0.516 |
| Union County, NJ | 578,268 | $104,008 | 5.0%/yr | 6.5% | 0.548 |
Conclusion
Considering all these factors, Somerset County, New Jersey has an overall wealth index grade of A+, making it somewhat better than New Jersey, and far better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Somerset County, New Jersey.
How Rich Is Somerset County, New Jersey?
Somerset County 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 it is one of the most prosperous areas in the country. The median household income is $140,426, about 35% higher than the New Jersey average of $103,817.
How has median household income changed in Somerset County, New Jersey?
Between 2009 and 2024, the median household income in Somerset County, New Jersey rose 46%, from $96,422 to $140,426. Over the same years, income here lagged behind New Jersey as a whole: +46% against +50%.
What was the median household income in Somerset County in 2023?
In 2023, the median household income in Somerset County, New Jersey was $136,049, up 3% from $131,792 in 2022. The New Jersey median that year was $101,191.
What was the median household income in Somerset County in 2020?
In 2020, the median household income in Somerset County, New Jersey was $116,762. By 2024 it had risen 20% to $140,426.
Is Somerset County, New Jersey a high-income area?
Yes. 28% of adults in Somerset County, New Jersey earn $100,000 or more a year (about 1 in 4), against 20% (about 1 in 5) in New Jersey. 34% of households have a combined income of $200,000 or more, compared with 22% in New Jersey.
Is unemployment high in Somerset County, New Jersey?
Unemployment in Somerset County, New Jersey is only 4.7%, 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 Somerset County, New Jersey?
The Gini coefficient in Somerset County is 0.515. 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 0.552, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Somerset County, New Jersey?
Since 2009, the income gap between men and women in Somerset County, New Jersey has narrowed from about 24% to 22% in 2024. Over that period the gap was widest at 27% in 2020. In dollar terms, the gap has widened by $5,367 since 2009.
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