By Barbara A. Preston | February 7, 2022
A recent survey conducted by Suburbs 101 ranks Montgomery Township in the top 10 wealthiest towns in New Jersey. Suburbs 101 is an online real estate guide for the New York City suburbs of Westchester and Fairfield counties, as well as Long Island and New Jersey.
According to the survey: Montgomery Township is the eighth wealthiest town in New Jersey. The guide describes the township as, "Bucolic with lots of parks and greenery, yet still close to the convenience of downtown Princeton."
"This affluent town has a population of 23,690 and a median income of $195,807. The residents of Montgomery are well educated with 75 percent having earned a bachelor’s degree or higher. The homes in Montgomery are primarily owner-occupied, 83.8 percent. There are only 16.2 percent rentals. Montgomery residents live a good work-life balance with a short commute time of 40 minutes per day. The median home value is $609,200.
Other towns listed in the survey include:
Alpine is a small town in Bergen County with a population of 1,762 and a median home value greater than $2 million. The homes in Alpine are primarily owner-occupied 84.6 percent with only 15.4 percent rentals. Median income: $250,000-plus.
Located in Essex County, Short Hills is an upscale community with winding roads and many multimillion dollar mansions. It has a population of 14,422 and a median income of $250,000-plus. The homes in Short Hills are primarily owner-occupied 91 percent, with only 10 percent rentals. The median home value is $1,386,600.
Located in Morris County with a population of 4,472, Mountain Lakes has a median income of $241,667. The poverty level of Mountain Lakes is almost zero at 1.9 percent. The homes in Mountain Lakes are primarily owner-occupied 95.4 percent with only 4.6 percent rentals. The median home value is $861,800.
Article continues after ad from our sponsor.
Located in Bergen County, Ho Ho Kus has a charming downtown and a median income of $216,875. It has a population of 4,258, and the homes are primarily owner-occupied 91.9 percent with only 8.1 percent rentals. The median home value is $775,900.
Located in Bergen County, Saddle River is an affluent town with big estates, historic homes, and mansions. Saddle River has a population of 3,372 and a median income of $213,958. The poverty level of Saddle River is almost zero at 1.5%. Property prices in Saddle River are high, with a median home value of $1,809,500. The homes are primarily owner-occupied 86.3 percent with only 13.7 percent rentals.
Essex Fells is a charming, tree-lined community in Essex County with a picturesque outdoor ice rink that locals fondly call “The Pond." With a population of 2,244, it has a median income of $213,088. The poverty level of Essex Fells is almost zero at 2 percent. The homes in Essex Fells are primarily owner-occupied 93.9 percent with only 6.1 percent rentals. The median home value is $856,300.
Located in Essex County, Glen Ridge is a charming community with historic homes and gas lights lighting the tree lined streets. This affluent community has a median income of $202,222 and a population of 7,802. The homes in Glen Ridge are primarily owner-occupied 91.50 percent with only 8.50 percent rentals. The median home value is $653,400.
Located in Somerset County, Montgomery is a bucolic town with lots of parks and greenery, yet still close to the convenience of downtown Princeton. This affluent town has a population of 23,690 and a median income of $195,807. The median home value is $609,200.
Located in Morris County, Chatham is a charming town with an old fashioned downtown and easy access to New York City trains. This town has a median income of $192,321 and a population of 9,212. The median home value $746,300
Located in Monmouth County, Rumson is an affluent beach town with sprawling waterfront mansions and a high speed ferry that beats the commute of most New Yorkers. It has a population of 7,343 and a median income of $188,906. The poverty level of Rumson is almost zero at 2 percent. Property prices in Rumson are high, with a median home value of $1,171,900. The homes in Rumson are primarily owner-occupied 92 percent with only 8 percent rentals.
The information presented in this article is from the US Census American Community Survey and from Suburbs 101.
Comments