New Jersey has lost its crown as the highest median household income state in the US, according to the latest economic data released by the U.S. Census Bureau.
According to the latest data from the American Community Survey, Massachusetts has dethroned the garden state by just a smidge with a median income of $99,858, compared to NJ’s $99,781 median income. The bureau calculated by household, meaning a group of people that live in the same house, families and married couples.
For households with non-family households, NJ falls to the 7th place for the highest national median income.
For reference, the average median household income in the US is $77,719. The overall national household median income rose to $80,610, up from $77,719 in 2023.
The Highest-Earning Leaders
While Massachusetts is the new highest earning state – the district, Washington D.C., has every state beat with a median income of $121,944. A married couple living in D.C makes on average, $239,178. In comparison, a married couple household in Massachusetts makes about$151,403.
The national median income on the whole rose, but so did housing costs with over 21 million renter’s spending over 30% of their income on housing last year.
Molly Ross, a survey statistician with the U.S. Census Bureau said in a press release: “Housing costs rose between 2022 and 2023 for both homeowners and renters. The median cost of housing for renters rose from $1,354 to $1,406 (after adjusting for inflation). And new data from the 2023 ACS, 1-year estimates show that the share of a rented household’s income that goes towards these housing costs differs by householder race.”
New Jersey’s Current Median Household Income Standing
- Families: $121,944
- Married Couples: $146,672
- Non-Family Households: $58,033
- Median Income For All Households in NJ: $99,781
Some more interesting tidbits from the study include:
- The Median Household Income Increased in: Florida, Nebraska, and Vermont. The median household income decreased in: Alaska, Delaware, Georgia and Pennsylvania. All other states showed no statistical difference.
- Lowest Median Household Income: Mississippi with $54,203.
- Income Inequality: During 2022-2023, income inequality increased in Alaska, Delaware and Georgia. Income inequality decreased in Alabama, California, Florida, Kansas, Kentucky, Massachusetts, Missouri, New York, North Dakota and West Virginia.
Average Household Income in NJ by County
| County | Median Income | Rank in the US |
|---|---|---|
| Cumberland County | $75,985 | 1,652 |
| Atlantic County | $91,891 | 607 |
| Salem County | $92,541 | 579 |
| Hudson County | $97,267 | 452 |
| Passaic County | $97,380 | 424 |
| Essex County | $97,380 | 421 |
| Cape May County | $101,287 | 331 |
| Camden County | $102,893 | 300 |
| Ocean County | $104,483 | 277 |
| Warren County | $113,083 | 175 |
| Union County | $115,612 | 149 |
| Mercer County | $120,093 | 121 |
| Gloucester County | $121,675 | 110 |
| Burlington County | $122,708 | 102 |
| Middlesex County | $124,842 | 88 |
| Sussex County | $130,760 | 66 |
| Bergen County | $144,348 | 31 |
| Monmouth County | $150,040 | 21 |
| Somerset County | $161,223 | 12 |
| Hunterdon County | $161,440 | 11 |
| Morris County | $163,598 | 10 |
What Percentage of People Make 100K in NJ?
Last year, information released by the U.S Census shows that eight NJ counties had median household incomes that exceeded, $100,000. That was in 2023. This year, the data shows more counties than ever where the median household income exceeds $100,000.
Considering the average of every household in the state, approximately 43% of residents are now making over $100,000 a year.
Despite losing the top spot, New Jersey continues to rank among the highest-earning states (top 3) in the nation. The state’s proximity to major economic hubs like New York City and Philadelphia, continues to attract high-earning professionals and businesses.
