It’s true what you read about New Jersey in the news. Some cities in the Garden State make Long Island, NY, look like the home of the middle class.
We know that New Jerseyites can make a fantastic bagel. They are one of the top producers of cranberries, and most drugmakers call it home, but what keeps this larger-than-life state ticking? That would be the millionaires that call it home.
To get into one of these cities, you can marry a New Jersey Housewife or find a job that pays an average of $160,000/year. I suggest a job in banking. Someone has to help all of those rich New Jerseyites manage their money.
To create this list, we asked ourselves, what is important to rich people in New Jersey? Besides crazy expensive beach houses down the Jersey Shore, the cities on our list have the highest incomes and home prices.
It turns out that many of our best places to live in New Jersey are also on our richest list.
Table Of Contents: Top Ten | Methodology | Summary | Table
The 10 Richest Places In New Jersey For 2024
We narrowed down the most affluent cities in New Jersey using Saturday Night Science to look at several factors, including home prices and household incomes. The cities also had to have a population of at least 3,000.
What is the richest city in New Jersey? Short Hills is the richest city in New Jersey.
To learn more about our wealthiest cities in The Garden State for 2024, grab an O’Bagel, a glass of cranberry juice, and read on.
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 2024
1. Short Hills
/10
Population: 14,448
Median Income: $250,001
Median Home Values: $1,908,688
More on Short Hills: Data | Cost Of Living | Real Estate
2. Rumson
/10
Population: 7,285
Median Income: $250,001
Median Home Values: $1,812,105
More on Rumson: Data | Crime | Cost Of Living | Real Estate
3. Ho-Ho-Kus
/10
4. Saddle River
/10
5. Upper Saddle River
/10
Population: 8,313
Median Income: $234,476
Median Home Values: $1,204,841
More on Upper Saddle River: Data | Crime | Cost Of Living | Real Estate
6. Chatham
/10
Population: 9,199
Median Income: $250,001
Median Home Values: $1,092,337
More on Chatham: Data | Crime | Cost Of Living | Real Estate
7. Fair Haven
/10
Population: 6,221
Median Income: $229,643
Median Home Values: $1,262,730
More on Fair Haven: Data | Crime | Cost Of Living | Real Estate
8. Upper Montclair
/10
Population: 12,441
Median Income: $234,620
Median Home Values: $1,111,886
More on Upper Montclair: Data | Cost Of Living | Real Estate
9. Englewood Cliffs
/10
Population: 5,347
Median Income: $213,261
Median Home Values: $1,437,753
More on Englewood Cliffs: Data | Crime | Cost Of Living | Real Estate
10. Mountain Lakes
Methodology: How We Determined The Richest Places In New Jersey For 2024
The first thing that comes to most people’s minds when they think about determining the richest places is simply identifying 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 2018-2022 American Community Survey and applied Saturday Night Science:
- Median Home Values
- Median Household Income
Median household income is the most digestible way to understand how rich a place is. And home values are a measure of wealth. The two combine to define a “Rich City.”
After we collected the data for all 347 places with more than 3,000 people in New Jersey, we ranked each place from 1 to 347 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, Short Hills, crowned the “Richest City In New Jersey For 2024.”
The data has been updated for 2024. This is our tenth time ranking the wealthiest cities in New Jersey.
You can skip to the end to see the rankings for all 347 places.
Summary: The Wealthiest Places In New Jersey For 2024
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.
The richest cities in New Jersey are Short Hills, Rumson, Ho-Ho-Kus, Saddle River, Upper Saddle River, Chatham, Fair Haven, Upper Montclair, Englewood Cliffs, and Mountain Lakes.
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: Penns Grove
2nd Poorest: Crestwood Village
3rd Poorest: Camden
For more New Jersey reading, check out:
- Best Places To Live In New Jersey
- Best Places To Raise A Family In New Jersey
- Safest Places In New Jersey
Detailed List Of The Richest Cities In New Jersey
| Rank | City | RichScore | Median Income | Average Home Price |
|---|---|---|---|---|
| 1 | Short Hills | 2.5 | $250,001 | $1,908,688 |
| 2 | Rumson | 3.0 | $250,001 | $1,812,105 |
| 3 | Ho-Ho-Kus | 5.5 | $250,001 | $1,173,280 |
| 4 | Saddle River | 6.0 | $228,750 | $1,936,148 |
| 5 | Upper Saddle River | 7.5 | $234,476 | $1,204,841 |
| 6 | Chatham | 7.5 | $250,001 | $1,092,337 |
| 7 | Fair Haven | 8.0 | $229,643 | $1,262,730 |
| 8 | Upper Montclair | 8.5 | $234,620 | $1,111,886 |
| 9 | Englewood Cliffs | 10.5 | $213,261 | $1,437,753 |
| 10 | Mountain Lakes | 10.5 | $250,001 | $1,007,417 |
| 11 | Franklin Lakes | 13.0 | $204,917 | $1,396,762 |
| 12 | Woodcliff Lake | 13.5 | $227,500 | $1,021,125 |
| 13 | Glen Ridge | 15.0 | $246,429 | $970,075 |
| 14 | Tenafly | 16.5 | $207,652 | $1,066,620 |
| 15 | North Caldwell | 18.0 | $215,000 | $1,001,940 |
| 16 | Westfield | 18.5 | $203,235 | $1,040,776 |
| 17 | Haworth | 20.5 | $215,972 | $943,022 |
| 18 | Ridgewood | 21.0 | $211,224 | $978,934 |
| 19 | Little Silver | 21.0 | $216,974 | $936,174 |
| 20 | Mendham | 22.5 | $212,550 | $938,574 |
| 21 | Summit | 23.0 | $176,702 | $1,115,201 |
| 22 | Blackwells Mills | 24.0 | $233,516 | $859,886 |
| 23 | Old Tappan | 24.5 | $195,833 | $993,658 |
| 24 | Bernardsville | 24.5 | $220,060 | $890,901 |
| 25 | Demarest | 28.5 | $165,119 | $1,108,430 |
| 26 | Glen Rock | 32.0 | $202,586 | $857,563 |
| 27 | Closter | 32.0 | $181,652 | $917,085 |
| 28 | Lincroft | 34.0 | $186,875 | $883,672 |
| 29 | Belle Mead | 35.0 | $203,942 | $831,721 |
| 30 | Brielle | 36.0 | $160,845 | $1,011,986 |
| 31 | Martinsville | 40.0 | $194,485 | $818,627 |
| 32 | Madison | 40.5 | $163,567 | $906,312 |
| 33 | Harrington Park | 41.0 | $183,138 | $825,981 |
| 34 | Oradell | 41.0 | $196,023 | $793,885 |
| 35 | Allendale | 41.5 | $163,875 | $891,873 |
| 36 | Princeton | 42.0 | $176,695 | $848,521 |
| 37 | Robertsville | 45.0 | $188,068 | $757,233 |
| 38 | Richwood | 45.5 | $201,037 | $725,610 |
| 39 | Monmouth Beach | 46.5 | $144,792 | $995,570 |
| 40 | Watchung | 46.5 | $157,065 | $905,582 |
| 41 | East Freehold | 48.0 | $184,579 | $728,945 |
| 42 | Mountainside | 48.5 | $162,531 | $851,670 |
| 43 | Montvale | 48.5 | $175,179 | $787,501 |
| 44 | Hoboken | 49.0 | $168,137 | $795,620 |
| 45 | New Providence | 49.0 | $167,188 | $806,187 |
| 46 | Kinnelon | 52.0 | $170,905 | $745,748 |
| 47 | Cresskill | 52.0 | $162,430 | $824,668 |
| 48 | Haddonfield | 52.5 | $178,362 | $698,505 |
| 49 | Shrewsbury | 55.0 | $158,065 | $818,921 |
| 50 | Hillsdale | 55.0 | $175,802 | $698,480 |
| 51 | Manasquan | 56.0 | $130,240 | $1,004,601 |
| 52 | Park Ridge | 57.5 | $164,241 | $706,489 |
| 53 | Fanwood | 58.5 | $177,727 | $651,607 |
| 54 | Paramus | 59.0 | $136,824 | $866,706 |
| 55 | Florham Park | 59.5 | $141,620 | $852,042 |
| 56 | Ramsey | 62.5 | $160,589 | $705,649 |
| 57 | Norwood | 62.5 | $156,630 | $747,730 |
| 58 | Bradley Gardens | 65.5 | $170,063 | $630,122 |
| 59 | Oakhurst | 68.5 | $130,313 | $848,679 |
| 60 | River Edge | 72.0 | $150,073 | $685,672 |
| 61 | Yorketown | 72.0 | $156,838 | $645,687 |
| 62 | Oakland | 72.5 | $162,848 | $624,707 |
| 63 | Oceanport | 73.0 | $132,723 | $795,055 |
| 64 | Point Pleasant Beach | 73.5 | $119,647 | $910,673 |
| 65 | Kendall Park | 74.0 | $159,362 | $629,077 |
| 66 | Fairview | 74.25 | $187,132 | $568,200 |
| 67 | Green Knoll | 74.5 | $149,228 | $666,439 |
| 68 | Morganville | 76.0 | $129,521 | $772,658 |
| 69 | Emerson | 76.5 | $141,908 | $655,975 |
| 70 | Westwood | 77.5 | $160,466 | $617,848 |
| 71 | Roseland | 80.0 | $135,451 | $686,003 |
| 72 | Edgewater | 82.5 | $136,806 | $641,816 |
| 73 | Franklin Center | 83.5 | $132,787 | $671,628 |
| 74 | Morris Plains | 84.5 | $144,540 | $620,521 |
| 75 | Margate City | 85.0 | $112,661 | $892,163 |
| 76 | West Long Branch | 85.5 | $114,036 | $856,215 |
| 77 | Waldwick | 86.0 | $150,861 | $600,598 |
| 78 | Strathmore | 87.75 | $153,988 | $587,875 |
| 79 | Brookdale | 89.0 | $149,392 | $590,716 |
| 80 | Midland Park | 89.5 | $136,326 | $623,608 |
| 81 | Succasunna | 89.5 | $162,566 | $558,704 |
| 82 | Princeton Meadows | 90.0 | $120,758 | $722,028 |
| 83 | Fair Lawn | 90.0 | $141,540 | $601,965 |
| 84 | Wanamassa | 90.5 | $162,954 | $551,557 |
| 85 | Rutherford | 91.0 | $128,576 | $638,326 |
| 86 | Moorestown-Lenola | 91.5 | $136,574 | $606,651 |
| 87 | Metuchen | 92.5 | $154,339 | $566,292 |
| 88 | Wood-Ridge | 94.0 | $132,901 | $617,275 |
| 89 | Springdale | 94.0 | $169,016 | $536,240 |
| 90 | Morristown | 95.0 | $113,926 | $772,172 |
| 91 | Atlantic Highlands | 95.5 | $118,591 | $688,002 |
| 92 | North Haledon | 97.5 | $128,472 | $617,950 |
| 93 | Dayton | 99.0 | $136,130 | $576,456 |
| 94 | Northvale | 100.5 | $120,278 | $633,189 |
| 95 | Secaucus | 100.5 | $129,348 | $594,469 |
| 96 | Ocean City | 100.5 | $98,576 | $1,016,356 |
| 97 | Heathcote | 100.5 | $119,979 | $634,445 |
| 98 | Six Mile Run | 104.0 | $115,526 | $649,516 |
| 99 | Leonia | 104.5 | $110,679 | $726,904 |
| 100 | Caldwell | 105.0 | $117,879 | $625,878 |