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It seems like we always talk about the richest people in the country or a given state, but we do not really focus on the most affluent areas to live. New Jersey is a diverse area where people of all socioeconomic classes have thrived and continue to do well. It is also a state that has countless town and local jurisdictions. Some of them are mired in poverty, while others seem to have assembled quite a bit of wealth. In order to give you a clearer picture of the state, we want to share the following list of the 20 richest towns in New Jersey in 2019.
20. Berkeley Heights in Union County – Median Income of $147,463
Nestled in Union County, Berkeley Heights is home to about 14,000 residents. It was recently ranked that sixth best place in the United States to live. The residents enjoy a high standard of living, as indicative of their roughly $147,000 in median income. The economy of the area is powered by Murray Hill Bell Labs. This is the headquarter for Nokia. The area is also home to the headquarters for L'Oreal. This combines to explain why the town is on the list of the 20 richest in New Jersey in 2019.
19. Demarest Borough in Bergen County – Median Income of $150,139
With a population of roughly 5,000, this is a small town that has a great deal going for it. It is located in the northeast quadrant of the state in an area known as the Gateway Region. This makes it part of the Metropolitan area of New York City, which helps explain where much of the wealth comes from. Quite a few of the residents commute daily to the city for work. That is where much of the economy is based on. This combines to explain why the town is on the list of the 20 richest in New Jersey in 2019.
18. Westfield Town in Union County – Median Income of $150,486
Located in Union County, Westfield is a medium-sized town of roughly 30,000 residents. In addition to being the 18th wealthiest area in the state, it is also listed as the 99th wealthiest region in the United States. Another accolade for this town is that it is ranked at the 30th safest place to live in America. This combines to explain why the town is on the list of the 20 richest in New Jersey in 2019.
17. Chatham Borough in Morris County – Median Income of $150,625
Home to roughly 9,000 residents, Chatham is located in Morris County. This area was settled by Europeans first back in 1710 and has been flourishing ever since. It was once ranked ninth in CNN/Money's list of the 100 Best Places to Live in America. It is also ranked as one of the best places to live in New Jersey. This combines to explain why the town is on the list of the 20 richest in New Jersey in 2019.
16. Woodcliff Lake Borough in Bergen County – Median Income of $150,862
Woodcliff Lake Borough is located in Bergen Country and is home to under 6,000 residents. While the population is decreasing somewhat, it has retained much of its wealth over the years. The town was once home to the world headquarters of Ingersoll Rand. After that, BMW moved in. There is also a lot of commerce located in the area. This combines to explain why the town is on the list of the 20 richest in New Jersey in 2019.
15. Allendale Borough in Bergen County – Median Income of $151,641
While the population of Allendale currently stands at roughly 6,500, is has been slowly declining in recent decades. This reflects a shift in the population center in New Jersey, but long-time residents and their wealth remain. Jim Burt, Phillip Chorba, and John Fell, among others, have called Allendale Borough home at one time or another. This combines to explain why the town is on the list of the 20 richest in New Jersey in 2019.
14. Chatham Township in Morris County – Median Income of $156,607
The Chatham Township was first incorporated back in 1806 and has slowly grown to over 10,000 residents today. It is a family-oriented town, with more than 63 percent of the households being married. Quite of a few of those have children under that age 18 living in the home. Business and finance are big employers for residents of this town. This combines to explain why the town is on the list of the 20 richest in New Jersey in 2019.
13. Glen Rock Borough in Bergen County – Median Income of $159,247
The 11,600 residents of Glen Rock has a median income of just under $160,000. It was recently voted as one of the top places to call him in New Jersey. This is owed to its relatively low crime rate, award-winning schools, and its proximity to New York City. The area is also home to high property values, which adds to its wealth. This combines to explain why the town is on the list of the 20 richest in New Jersey in 2019.
12. Fair Haven Borough in Monmouth County – Median Income of $161,131
Fair Haven is actually located on the Rumson Peninsula. It is home to just over 6,000 residents and appears to be growing slightly. It is a small town that is comprised of only 2.1 square miles, but it has a lot of history going for it. It also hosts a major Fireman's Fair that is popular across the region and has hosted such celebrities as Bruce Springsteen and Bon Jovi. This combines to explain why the town is on the list of the 20 richest in New Jersey in 2019.
11. Colts Neck Township in Monmouth County – Median Income of $162,083
Colts Neck is home to just over 10,000 residents and is located in Monmouth County. With a median income of just over $162,000, the area is the 11th richest in New Jersey at the current time. Much of the economy is based on Laird and Company, which has a facility in the town. The company is the last remaining producer of Applejack in the United States. This combines to explain why the town is on the list of the 20 richest in New Jersey in 2019.
10. Ho-Ho-Kus Borough in Bergen County – Median Income of $163,988
Ho-Ho-Ho Kus is a small town of 4,000 residents located in Bergen County. Its proximity to New York City helps to explain where much of its wealth comes from, as residents here enjoy a median income of just under $164,000. The area was recently also named the best place to live in the entire state of New Jersey. It relative wealth was cited as one of the reasons. This combines to explain why the town is on the list of the 20 richest in New Jersey in 2019.
9. West Windsor Township in Mercer County – Median Income of $167,629
West Windsor was incorporated back in 797 and has grown to a population of just over 27,000 residents. With a median income of roughly $167,500, it has become one of the wealthiest towns in the state. The headquarters for NRG Energy is located in West Windsor, which helps one understand where much of the money comes from. This combines to explain why the town is on the list of the 20 richest in New Jersey in 2019
8. Haworth Borough in Bergen County – Median Income of $168,371
Haworth is yet another small town located in Bergen County that has considerable wealth attached to it. The number of residents stands at only 3,300. The town was incorporated in 1904 and has been recently named at the third-best suburb in the entire country to live in. This explains why the residents never want to leave. This combines to explain why the town is on the list of the 20 richest in New Jersey in 2019.
7. Montgomery Township in Somerset County – Median Income of $170,449
Here is a town of 22,000 that has a lot going for it. It has actually been inhabited for over 20,000 years dating back to the days of the Lenni Lenape tidal groups. With a median income of over $170,000 residents, it is easy to see why so many people want to live here. The population is slowly starting to increase as well, which is reversing a trend evident in other small towns. This combines to explain why the town is on the list of the 20 richest in New Jersey in 2019.
6. Upper Saddle River Borough in Bergen County – Median Income of $171,747
More than 8,000 people call Upper Saddle River in Bergen County home. Combined, the median household income is just over $171,000. This town used to be home to Pearson Education, which is one of the largest education companies in the world. Hunter Douglas and Onkyo also have their headquarters here. This combines to explain why the town is on the list of the 20 richest in New Jersey in 2019.
5. Tewksbury Township in Hunterdon County – Median Income of $173,403
Tewksbury Township is the only area in Hunterdon County to make this list, complete with a median income of over $173,000. It has a population of 6,000 residents and has been a town in New Jersey dating back to 1755. This combines to explain why the town is on the list of the 20 richest in New Jersey in 2019.
4. Essex Fells Borough in Essex County – Median Income of $174,432
Essex Fells is an extremely small town of only 2,000 residents. It was just recently ranked as the most desirable town in all of New Jersey for families. It is also ranked at the 10th best place to live in New Jersey. It consistently ranks high in these categories. This combines to explain why the town is on the list of the 20 richest in New Jersey in 2019.
3. Mendham Township in Morris County – Median Income of $176,875
As this town is only located about 30 miles west of New York City, it is understandable that many of the 5,900 residents commute into the Big Apple. The town was formed back in 1749 and has many long-time residents that have continued to accumulate wealth. This combines to explain why the town is on the list of the 20 richest in New Jersey in 2019.
2. North Caldwell Borough in Essex County – Median Income of $188,897
North Caldwell is home to just over 6,000 residents. The town itself is slowly declining in population, but its relative wealth most certainly is not. It was recently ranked as the 3rd best place to live in New Jersey. It is also believed to be the 34th richest town in the United States. This combines to explain why the town is on the list of the 20 richest in New Jersey in 2019.
1. Millburn Township in Essex County – Median Income of $190,625
The richest town in all of New Jersey in 2019 is Mill-run Township. The population of this town stands at just over 20,000. This is the home of Dun and Bradstreet. That mall at fort hills is also located here, complete with its more than 1.4 million square feet of retail space. This combines to explain why the town is on the list of the 20 richest in New Jersey in 2019.
This list should give you a clearer picture of where the 20 richest towns in New Jersey lie. It will also help you better understand where people are making their money and what industries hold the most promise for the future. Do any of these places surprise you? Are you surprised that certain towns actually did not make the list? Who knows what this list will look like in the future. We will also have to check back and see on that one.
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