Richest Cities In New Jersey [2023]: Rankings By Income And Home Prices

It’s true what you read about New Jersey in the news: there are cities in this state that make Long Island, NY look like the home of the middle class.

We know that New Jerseyites can make an amazing bagel, they are one of the top producers of cranberries, and most of the drugmakers call it home, but what is it that keeps this larger than life state ticking? That folks, would be the millionaires that call it home. Curious to know where the ‘Richie Rich’ of New Jersey live? We’ve done the work for you with the top ten richest cities in New Jersey for 2023 list.

To create this list, we asked ourselves, what is important to rich people in New Jersey? Besides the obvious: high paying jobs, affluent neighborhoods, and crazy expensive beach houses at the Jersey Shore; the cities on our list had to cater to the ‘one percent’ on a different level, they had to be super posh posh.

How does one get their hand on one of these New Jersey cities; where living your best life requires a substantial amount of money? Well, a couple of things have to fall into place for you. You can marry a New Jersey Housewife or you can find a job that pays on average $160,000/year. Might we suggest a job in banking? Someone has to help all of those rich New Jerseyites manage their money. Wealthy people want to live in the best cities, so it’s not lost on us that there are multiple cities on our best places to live in New Jersey for 2023 that are also on our richest list.

To see which cities make the dolla’ holla’ on our wealthiest cities in The Garden State for 2023, grab an O’Bagel, a glass of cranberry juice, and read on.

Here are the 10 richest places in New Jersey for 2023:

In all seriousness, we narrowed down the richest cities in New Jersey by looking at several factors: poverty rate, median household income, unemployment rate; and obviously, where Jersey’s filthy rich like to hang. The cities also had to have a population of at least 5,000.

And the winner is — Park Ridge. You better have deep pockets if you want to live in Park Ridge, folks.

So where exactly is the money located in the great state of New Jersey? Continue reading as we unravel the richest cities in New Jersey for 2023. And if you don’t see your city there, head to the bottom.

Rich people not your cup of tea? Feel free to check out some more reading about New Jersey:

The 10 Richest Cities In New Jersey For 2023

1. Park Ridge

Source: Wikipedia User KLOTZPLATE | CC BY-SA 4.0

Overall SnackAbility

7
/10

Population: 8,987
Rank Last Year: 6 (Up 5)
Median Income: $168,269
Unemployment Rate: 2.5%
Poverty Rate: 1.8%
More on Park Ridge: Real Estate | Photos

2. Ramsey

Source: Wikipedia User Daniel Case | CC BY-SA 3.0

Overall SnackAbility

7
/10

Population: 14,801
Rank Last Year: 1 (Down 1)
Median Income: $156,473
Unemployment Rate: 2.3%
Poverty Rate: 1.4%
More on Ramsey: Real Estate | Photos

3. Little Silver

Source: Public domain

Overall SnackAbility

10
/10

Population: 6,103
Rank Last Year: 5 (Up 2)
Median Income: $212,069
Unemployment Rate: 3.9%
Poverty Rate: 1.4%
More on Little Silver: Real Estate | Photos

4. New Providence

Source: Public domain

Overall SnackAbility

10
/10

Population: 13,570
Rank Last Year: 4 (No Change)
Median Income: $155,370
Unemployment Rate: 3.4%
Poverty Rate: 1.0%
More on New Providence: Real Estate | Photos

5. Old Tappan

Source: Public domain

Overall SnackAbility

10
/10

Population: 5,870
Rank Last Year: 36 (Up 31)
Median Income: $180,568
Unemployment Rate: 3.3%
Poverty Rate: 2.4%
More on Old Tappan: Real Estate | Photos

6. Fair Haven

Source: Wikipedia User Apc106 | CC BY-SA 3.0

Overall SnackAbility

10
/10

Population: 6,235
Rank Last Year: 8 (Up 2)
Median Income: $192,500
Unemployment Rate: 3.7%
Poverty Rate: 3.1%
More on Fair Haven: Real Estate | Photos

7. River Edge

Source: Wikipedia User KForce at en.wikipedia | CC BY-SA 3.0

Overall SnackAbility

10
/10

Population: 12,024
Rank Last Year: 14 (Up 7)
Median Income: $142,214
Unemployment Rate: 2.4%
Poverty Rate: 2.9%
More on River Edge: Real Estate | Photos

8. Norwood

Source: Wikipedia User Adam Moss | CC BY-SA 2.0

Overall SnackAbility

6
/10

Population: 5,666
Rank Last Year: 7 (Down 1)
Median Income: $144,390
Unemployment Rate: 2.4%
Poverty Rate: 3.0%
More on Norwood: Real Estate | Photos

9. Haddonfield

Source: Public domain

Overall SnackAbility

10
/10

Population: 12,383
Rank Last Year: 2 (Down 7)
Median Income: $159,323
Unemployment Rate: 3.7%
Poverty Rate: 2.2%
More on Haddonfield: Real Estate | Photos

10. Westfield

Source: Wikipedia User Jared Kofsky/PlaceNJ.com | CC BY-SA 3.0

Overall SnackAbility

7
/10

Population: 30,950
Rank Last Year: 16 (Up 6)
Median Income: $185,319
Unemployment Rate: 4.3%
Poverty Rate: 2.0%
More on Westfield: Real Estate | Photos

Methodology: How We Determined The Richest Places In New Jersey For 2023

The first thing that comes to most people’s minds when they think about determining the richest places is to simply identify personal incomes. After all, rich people have really high salaries.

However, we don’t believe that one statistic wholly encompasses what it means to be one of the “richest places”. So we looked at this set of criteria from the newly released 2017-2021 American Community Survey:

Poverty Level
Median Household Income
Unemployment Rate

Most Dangerous Cities In New Jersey

Median household income is the most digestible way to understand how rich a place really is. The unemployment rate tries to capture the prospects for more people to become rich. If more people are employed, the richer the future looks.

After we collected the data for all 190 places with more than 5,000 people in New Jersey, we ranked each place from 1 to 190 for each of the criteria, with 1 being the richest.

We then averaged all the rankings for a place into a “Rich Score” with the place having the lowest overall Rich Score, Park Ridge, crowned the “Richest City In New Jersey For 2023”. You can download the data here.

You can learn more about the top ten below or skip to the end to see the rankings for all 190 places.

Summary: The Wealthiest Places In New Jersey For 2023

Like we said earlier, when we set out to identify the richest places in New Jersey, we weren’t sure what we’d encounter, but it ended up being some of the best places to live in New Jersey.

When you look at the data, the cities and places mentioned above meet the criteria for being at the very top of the income ladder for everyone that lives there.

If you’re curious enough, here are the poorest cities in New Jersey, according to data:

Poorest: Salem
2nd Poorest: Atlantic City
3rd Poorest: Camden

For more New Jersey reading, check out:

Detailed List Of The Richest Cities In New Jersey

Rank	City	RichScore	Median Income
1	Park Ridge	14.0	$168,269
2	Ramsey	14.0	$156,473
3	Little Silver	16.33	$212,069
4	New Providence	17.33	$155,370
5	Old Tappan	19.0	$180,568
6	Fair Haven	25.0	$192,500
7	River Edge	25.67	$142,214
8	Norwood	26.0	$144,390
9	Haddonfield	26.0	$159,323
10	Westfield	27.33	$185,319
11	Hillsdale	29.67	$165,964
12	Ridgewood	30.67	$194,256
13	Waldwick	31.67	$132,315
14	Cresskill	31.67	$155,515
15	Montvale	32.0	$163,170
16	Mountainside	33.0	$133,365
17	North Caldwell	33.67	$172,419
18	Oradell	34.0	$174,643
19	Berlin	34.0	$103,634
20	Morris Plains	34.0	$131,731
21	Rumson	35.0	$239,188
22	Allendale	35.33	$165,599
23	Fanwood	35.67	$178,311
24	Oakland	36.33	$152,283
25	Glen Rock	37.67	$182,292
26	Franklin Lakes	38.33	$188,272
27	Westwood	39.0	$136,603
28	Audubon	39.33	$97,191
29	Roseland	42.0	$145,994
30	Florham Park	43.33	$134,018
31	Glen Ridge	44.0	$243,899
32	Princeton	45.0	$165,149
33	Chatham	45.67	$209,283
34	Hoboken	45.67	$160,890
35	Closter	46.0	$166,125
36	Manasquan	46.33	$132,596
37	Mount Arlington	47.0	$89,795
38	Hight	49.0	$91,875
39	Point Pleasant	49.33	$102,143
40	Mil	49.33	$106,450
41	Metuchen	49.67	$141,915
42	Rutherford	50.0	$118,462
43	Totowa	51.67	$103,419
44	Leonia	52.0	$102,381
45	Edgewater	52.33	$126,483
46	Englewood Cliffs	52.67	$191,875
47	Bogota	53.67	$104,949
48	Ringwood	54.0	$130,833
49	Hopatcong	54.67	$99,177
50	Carlstadt	57.33	$108,479
51	Watchung	58.33	$143,889
52	Wanaque	58.67	$102,977
53	Bernardsville	59.67	$200,375
54	Union Beach	61.0	$114,028
55	Hawthorne	62.33	$107,416
56	Haddon Heights	63.33	$104,744
57	Caldwell	64.0	$107,596
58	Tenafly	64.0	$179,833
59	Fair Lawn	64.33	$133,209
60	Emerson	65.0	$135,396
61	Linwood	65.33	$118,795
62	Midland Park	65.67	$129,148
63	Kinnelon	67.0	$163,611
64	Madison	67.67	$152,346
65	Woodcliff Lake	68.0	$210,078
66	Somerville	68.33	$92,995
67	Butler	68.67	$103,018
68	Beachwood	68.67	$88,940
69	Upper Saddle River	69.67	$220,068
70	Dumont	70.0	$108,333
71	Oceanport	70.33	$111,400
72	North Haledon	72.0	$107,250
73	East Rutherford	72.67	$86,592
74	Wood-Ridge	73.0	$123,184
75	Margate City	73.0	$106,053
76	South Plainfield	74.33	$114,293
77	Ocean City	77.0	$88,414
78	Morristown	77.33	$112,570
79	Secaucus	77.67	$125,246
80	Pompton Lakes	77.67	$100,906
81	Paramus	78.0	$130,446
82	Summit	78.33	$151,505
83	Haledon	80.0	$94,146
84	Matawan	81.0	$115,035
85	Bergenfield	82.0	$111,851
86	Jamesburg	83.33	$93,000
87	Raritan	83.67	$90,125
88	Ridgefield	84.0	$93,045
89	Sayreville	84.67	$89,600
90	Northfield	84.67	$88,232
91	New Milford	85.0	$98,992
92	Boonton	85.67	$85,948
93	Roselle Park	86.0	$85,427
94	Lincoln Park	88.0	$105,299
95	Fort Lee	88.0	$92,456
96	Hasbrouck Heights	89.33	$102,639
97	Tinton Falls	91.33	$96,294
98	North Arlington	92.0	$94,012
99	Dunellen	93.0	$81,525
100	Middlesex	93.67	$90,162

Download The Entire New Jersey Ranking Data

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Editor’s Note: Data has been updated for 2023. This is our tenth time ranking the richest cities in New Jersey.