New Jersey Income Statistics
New Jersey Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of a state's residents based on income levels, employment rates, and income inequality metrics.
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B
New Jersey Around averageWealthier than 88% of states in US
Source: Map AI Methodology
Wealthiest and Least Wealthy Counties in New Jersey
- Hunterdon County (133% of U.S. avg)
- Morris County (131% of U.S. avg)
- Somerset County (130% of U.S. avg)
- Cumberland County (87% of U.S. avg)
- Passaic County (97% of U.S. avg)
- Essex County (98% of U.S. avg)
Ranked by the Map AI Wealth Index, which combines income, employment, and income inequality metrics.
Income Statistics Overview
| Metric | New Jersey | US Average |
|---|---|---|
| Median Household Income | $103,817 | $80,455 |
| Median Personal Income | $76,200 | $60,758 |
| Average Yearly Income Growth | 4.4% | 4.8% |
| Six-Figure Earners | 19.9% | 13.9% |
| $200k+ Households | 21.6% | 13.2% |
The median household income in New Jersey is about 29% higher than in US. Income has been growing slower in New Jersey (4.4%/yr) than in US (4.8%/yr).
About 20% of adults in New Jersey earn six figures ($100,000 or more) a year, higher than the US average of 14%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in New Jersey grew by 49.8% from 2009 to 2024, reaching $103,817 in 2024. That's an average of about 4.4% per year.
Income Inequality and the Gender Pay Gap in New Jersey
| Metric | New Jersey | US Average |
|---|---|---|
| Gini Coefficient | 0.544 | 0.552 |
| Male Median Income | $87,197 | $69,667 |
| Female Median Income | $70,502 | $56,850 |
| Gender Pay Gap | 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 New Jersey, it is 0.544, lower than US's 0.552, so income is more evenly distributed here than there.
Men's income is about 24% more than women's income in New Jersey. Over a 35-year career, a 24% wage gap accumulates to roughly $584,325 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in New Jersey has narrowed from about 24% to 19% in 2024. In dollar terms, the gap has widened by $2,732 since 2009.
Employment
| Metric | New Jersey | US Average |
|---|---|---|
| Unemployment Rate | 6.3% | 5.2% |
| Working from Home | 16.8% | 15.0% |
| Commute time (minutes) | 26 | 22 |
Approximately 315,620 people are unemployed in New Jersey.
The average commute time in New Jersey is 26 minutes, longer than the 22 minutes in US.
Unemployment Rate Over Time
Since 2011, the unemployment rate in New Jersey has fallen from 8.7% to 6.3% in 2024. Over that period the rate peaked at 10.1% in 2013 and fell as low as 5.5% in 2019.
New Jersey Wealth Compared With Nearby States
New Jersey is the 2nd largest of the 6 states compared here, 9,334,304 residents against a local median of 3,347,044. Where New Jersey breaks from the states next to it is unemployment, sitting 15% above the local median of 5.5% at 6.3%. That is the weaker end of the local range on this measure.
The states themselves spread 1.5% on unemployment, so New Jersey sits at one end of an already wide local range rather than apart from it. New Jersey has the 5th lowest unemployment 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. |
|---|---|---|---|---|---|
| New Jersey | 9,334,304 | $103,817 #3/6 | 4.4%/yr #3/6 | 6.3% #5/6 | 0.544 #5/6 |
| Delaware | 1,017,061 | $85,760 | 4.3%/yr | 5.1% | 0.525 |
| Maryland | 6,204,886 | $103,916 | 4.0%/yr | 4.8% | 0.534 |
| Connecticut | 3,347,044 | $97,098 | 3.7%/yr | 5.5% | 0.536 |
| District of Columbia | 678,314 | $110,571 | 5.3%/yr | 6.3% | 0.501 |
| New York | 19,748,855 | $86,556 | 4.5%/yr | 6.4% | 0.557 |
Conclusion
Considering all these factors, New Jersey has an overall wealth index grade of B, making it somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in New Jersey.
How Rich Is New Jersey?
New Jersey 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 $103,817, about 29% higher than the US average of $80,455.
How fast is household income rising in New Jersey?
Between 2009 and 2024, the median household income in New Jersey rose 50%, from $69,290 to $103,817. Over the same years, income here lagged behind the U.S. as a whole: +50% against +57%.
What was the median household income in New Jersey in 2023?
In 2023, the median household income in New Jersey was $101,191, up 4% from $97,455 in 2022. The US median that year was $78,147.
What was the median household income in New Jersey in 2020?
In 2020, the median household income in New Jersey was $85,952. By 2024 it had risen 21% to $103,817.
How many people earn six figures in New Jersey?
Yes. 20% of adults in New Jersey earn $100,000 or more a year (about 1 in 5), against 14% (about 1 in 7) in the U.S.. 22% of households have a combined income of $200,000 or more, compared with 13% in the U.S..
What is the Gini coefficient in New Jersey?
The Gini coefficient in New Jersey is 0.544. 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 New Jersey?
Since 2009, the income gap between men and women in New Jersey has narrowed from about 24% to 19% in 2024. In dollar terms, the gap has widened by $2,732 since 2009.
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