Westfield, New Jersey Income Statistics
Westfield 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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A+
Westfield Top grade
Source: Map AI Methodology
Income Statistics Overview
| Metric | Westfield | New Jersey Avg | US Average |
|---|---|---|---|
| Median Household Income | $205,099 | $103,817 | $80,455 |
| Median Personal Income | $127,089 | $76,200 | $60,758 |
| Average Yearly Income Growth | 4.1% | 4.4% | 4.8% |
| Six-Figure Earners | 42.5% | 19.9% | 13.9% |
| $200k+ Households | 55.7% | 21.6% | 13.2% |
The median household income in Westfield is about 98% higher than in New Jersey. Income has been growing slower in Westfield (4.1%/yr) than in New Jersey (4.4%/yr).
About 43% of adults in Westfield 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 Westfield, New Jersey grew by 61.1% from 2009 to 2024, reaching $205,099 in 2024. That's an average of about 4.1% per year.
Income Inequality and the Gender Pay Gap in Westfield
| Metric | Westfield | New Jersey Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.484 | 0.544 | 0.552 |
| Male Median Income | $132,091 | $87,197 | $69,667 |
| Female Median Income | $114,908 | $70,502 | $56,850 |
| Gender Pay Gap | 13.0% | 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 Westfield, it is 0.484, 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 15% more than women's income in Westfield, New Jersey. Over a 35-year career, a 15% wage gap accumulates to roughly $601,405 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Westfield, New Jersey has narrowed from about 41% to 13% in 2024. In dollar terms, the gap has narrowed by $29,699 since 2009.
Employment
| Metric | Westfield | New Jersey Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.7% | 6.3% | 5.2% |
| Working from Home | 34.2% | 16.8% | 15.0% |
| Commute time (minutes) | 31 | 26 | 22 |
Approximately 580 people are unemployed in Westfield, New Jersey.
The average commute time in Westfield is 31 minutes, longer than the 26 minutes in New Jersey.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Westfield, New Jersey has fallen from 6.3% to 3.7% in 2024. Over that period the rate peaked at 8.2% in 2013 and fell as low as 2.7% in 2019.
Conclusion
Considering all these factors, Westfield, New Jersey has an overall wealth index grade of A+, making it far better than New Jersey, and far better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Westfield, New Jersey.
How Rich Is Westfield, New Jersey?
Westfield 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 $205,099, about 98% higher than the New Jersey average of $103,817.
Are incomes growing in Westfield, New Jersey?
Between 2009 and 2024, the median household income in Westfield, New Jersey rose 61%, from $127,280 to $205,099. Over the same years, income here outpaced New Jersey as a whole: +61% against +50%.
What was the median household income in Westfield in 2023?
In 2023, the median household income in Westfield, New Jersey was $202,479, up 1% from $200,724 in 2022. The New Jersey median that year was $101,191.
What was the median household income in Westfield in 2020?
In 2020, the median household income in Westfield, New Jersey was $164,919. By 2024 it had risen 24% to $205,099.
How many people earn six figures in Westfield, New Jersey?
Yes. 43% of adults in Westfield, New Jersey earn $100,000 or more a year (about 1 in 2), against 20% (about 1 in 5) in New Jersey. 56% 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 Westfield, New Jersey?
Unemployment in Westfield, New Jersey is only 3.7%, 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 Westfield, New Jersey?
The Gini coefficient in Westfield is 0.484. 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 Westfield, New Jersey?
Since 2009, the income gap between men and women in Westfield, New Jersey has narrowed from about 41% to 13% in 2024. In dollar terms, the gap has narrowed by $29,699 since 2009.
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