This is New Jersey’s richest town
There are a lot of advantages to living in New Jersey: we have the Shore, access to all sorts of entertainment, great food, and a high standard of living.
A site called 24/7 Wall St. decided to crunch some numbers and come up with the richest town in each state; towns had to be between 1,000 and 25,000 in population to qualify.
Using five-year data from the U.S. Census Bureau’s 2021 American Community Survey, towns were ranked on average household income, which seems like a pretty good way to measure.
While Alpine or Princeton might immediately come to mind, neither of those is the richest town in New Jersey, although the town that is probably won’t come as a big surprise
According to 24/7 Wall St., New Jersey’s richest town is Short Hills.
According to their numbers, the average household income in Short Hills is $428,352, compared to the statewide average of $124,626. Since there is a connection between education and income, they also discovered that over 88% of its residents have at least a bachelor’s degree; the statewide number is 41.5%
The median home value in Short Hills will get your attention: it’s $1,389,900 compared to the statewide home value of $355,700.
Short Hills’ population is 14,500 and 507 towns qualified to be measured under 24/7 Wall St.’s criteria.
From 24/7 Wall St.:
In every town on this list, the average household income exceeds the $97,196 national average by more than $21,000. In half of all states, the average household income in the wealthiest town exceeds the national average by hundreds of thousands of dollars.
As you can see, Short Hills blows past the national average.
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Opinions expressed in the post above are those of New Jersey 101.5 talk show host Bill Doyle only.
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