17 Richest Towns In NJ - NY Rent Own Sell (2024)

By: ROS Team

New Jersey, often referred to as the “Garden State,” is renowned for its picturesque landscapes, rich history, and diverse communities. Beyond its natural beauty, this northeastern state boasts a thriving economy and a multitude of prosperous towns that have become havens for the affluent.

In this blog post, we will explore the 17 richest towns in New Jersey, each with its distinct charm, affluence, and allure.

Rich Towns In New Jersey

1. Essex Fells

Population: 2,244
Average Household Income: $351,049
Median Sales Price of Homes: $1,211,365

Essex Fells, New Jersey, is a charming suburban town renowned for its exceptional quality of life. According to Niche, it proudly claims the #2 spot in the Best Places to Live in Essex County, a testament to its desirability as a residential community.

Nestled between Eagle Rock Avenue and Bloomfield Avenue, the town enjoys excellent accessibility, making commuting and daily life convenient for its residents. While boasting a median rent of $3,501, Essex Fells offers an attractive living environment that justifies its popularity.

The town’s poverty rate of 2.44% speaks to its economic prosperity and stability, reflecting the robust opportunities available to its residents.

Moreover, Essex Fells shines as an educated community, with an impressive 44% of its residents holding Master’s degrees or higher, fostering a culture of learning and ambition.

This combination of accessibility, prosperity, and intellectual enrichment makes Essex Fells the richest town in New Jersey.

2. Ho-Ho-Kus

Population: 4,222
Average Household Income: $331,716
Median Sales Price of Homes: $1,071,760

Ho-Ho-Kus, located in New Jersey, is another rich town in NJ. In 2011, it was proudly recognized as the best place to reside in New Jersey by the New Jersey Monthly magazine, lauding its prosperity, low crime rate, and exceptional school system.

Serving as a picturesque suburb, Ho-Ho-Kus predominantly caters to the upper-class and upper-middle class, boasting an impressive 15th position in the state regarding per-capita income.

Moreover, this charming town showcases its commitment to social well-being, with a remarkably low poverty rate of 0.0732%, which is significantly lower than the national average of 12.8%. Residents of Ho-Ho-Kus enjoy a serene and prosperous lifestyle, making it an enviable gem in the state of New Jersey.

3. Alpine

Population: 1,754
Average Household Income: $318,616
Median Sales Price of Homes: $2,759,197

Alpine, New Jersey, a prestigious town located in Bergen County, has earned its reputation as one of the most affluent areas in the United States.

In 2012, Forbes ranked Alpine as America’s most expensive ZIP Code with a median home price of $4.25 million. The town’s opulent allure is further heightened by its residents, including prominent figures such as billionaire Larry Robbins, who call this picturesque enclave their home.

Moreover, Alpine’s magnetism extends beyond Wall Street tycoons, as it also holds a special appeal to the stars of the hip-hop world, making it a sought-after residence for music’s biggest names.

Alpine, New Jersey, undoubtedly shines as the epitome of wealth and extravagance with its luxurious properties, affluent community, and allure to celebrities.

4. Saddle River

Population: 3,351
Average Household Income: $323,843
Median Sales Price of Homes: $1,924,342

Nestled in the picturesque landscape of New Jersey, Saddle River is a charming town known for its breathtaking natural beauty. Its abundant natural fields, farmland, forests, and rivers create a bucolic atmosphere that draws residents and visitors alike.

Beyond its scenic splendor, Saddle River boasts a distinguished reputation in terms of affluence, being one of the highest-income small municipalities in the United States.

As of the 2010 Census, it ranked an impressive 9th in New Jersey in per capita income. The town’s allure extends further with its history of attracting notable residents, including former US Presidents, celebrities, athletes, and successful businessmen who have chosen to call Saddle River their home, contributing to its rich and vibrant community.

5. Short Hills

Population: 13,700
Average Household Income: $428,352
Median Sales Price of Homes: $1,908,308

Short Hills, New Jersey, is a prestigious and affluent community known for its opulence and excellent educational opportunities.

With its zip code ranked as the fourth wealthiest in New Jersey and among the top 100 in the entire country by PropertyShark, it is no surprise that Short Hills exudes affluence.

This charming town takes pride in its well-educated population, with an astonishing 51% of residents holding advanced degrees, making it the top town for such educational achievements among the richest locals.

Short Hills is a haven for the wealthy and a prime location for those seeking a convenient commute to New York City, with a quick 35-minute travel time.

Moreover, the town boasts some of the finest schools in the state and nation, providing top-notch educational opportunities for its residents. In addition to its affluence and educational excellence. Short Hills maintains an impressively low poverty rate of 5.33%, making it a sought-after community that offers a high quality of life for its privileged residents.

6. Glen Ridge

Population: 7,709
Average Household Income: $243,899
Median Sales Price of Homes: $980,788

Glen Ridge, New Jersey, is a picturesque town that exudes old-world charm. With a remarkable 72.8% of its houses constructed before 1939, the town boasts a rich architectural heritage, offering a glimpse into the past.

Despite its historical appeal, Glen Ridge remains a modern and thriving community. The town prides itself on its low poverty rate, which stands at an impressive 3.9 percent, highlighting its commitment to maintaining a high standard of living for its residents.

Additionally, Glen Ridge’s convenient location enhances its allure as it is just a short 35-minute trip on the Midtown direct to Manhattan.

This proximity to the bustling metropolis provides easy access to a myriad of opportunities. Making Glen Ridge an ideal place to call home for those seeking a perfect blend of history, modernity, and accessibility.

7. Rumson

Population: 7,343
Average Household Income: $239,188
Median Sales Price of Homes: $1,811,050

Coming at number seven on our list is Rusmon. Located in Monmouth County, New Jersey, the neighborhood is a picturesque and opulent beach town renowned for its magnificent waterfront mansions and stunning coastal views.

With its high-speed ferry service, Rumson offers a convenient and enviable commute for many New Yorkers seeking a luxurious seaside escape.

This affluent borough boasts one of the state’s highest-income communities, as evidenced by the 2013–2017 American Community Survey, which reported a median household income of $158,229, with an impressive 43.9% of households earning over $200,000 annually.

Furthermore, the residents of Rumson exhibit a dedication to education, with an impressive 73% of the population having attained a Bachelor’s Degree or higher, reflecting their commitment to intellectual growth and achievement.

Rumson’s poverty rate is notably low, standing at just 3.27%, underscoring the area’s prosperity and desirability as a prestigious coastal haven.

8. Fair Haven

Population: 6,204
Average Household Income: $286,183
Median Sales Price of Homes: $1,219,076

Fair Haven, New Jersey, is a charming borough located in Monmouth County, known for its scenic beauty and upscale living. In 2018, Fair Haven earned recognition from New Jersey Business Magazine, ranking 25th in “The Most Expensive ZIP Codes in New Jersey” list, showcasing its affluent and desirable status.

The median rent in this picturesque town stands at an impressive $2,143, surpassing the state average. Moreover, the residents of Fair Haven enjoy a significantly higher household income, 191% more than the national average, according to Niche.

With its picturesque neighborhoods, excellent schools, and a strong sense of community, Fair Haven attracts those seeking a high standard of living and a serene suburban lifestyle.

9. Little Silver

Population: 6,091
Average Household Income: $212,069
Median Sales Price of Homes: $936,783

Little Silver, New Jersey, is a charming and idyllic small town known for its safety and family-friendly environment. According to Niche, it holds an impressive #3 spot in the Best Places to Live in Monmouth County, thanks to its welcoming community and top-rated public schools.

Little Silver boasts a staggering 94% homeownership rate, reflecting the residents’ pride in their homes and investment in the community.

Situated close to the beach and featuring its own train station, the town offers convenient access to natural beauty and transportation options. While the cost of living may be relatively high, the benefits of residing in Little Silver are undeniable, as it provides a secure and peaceful setting for families to thrive.

10. Chatham

Population: 9,253
Average Household Income: $245,646
Median Sales Price of Homes: $1.1M

Chatham is another rich town in New Jersey. With a remarkably low poverty rate of just 1.25%, it stands out as a place of prosperity and opportunity.

In March 2018, Bloomberg recognized Chatham’s prosperity by ranking it as the 64th wealthiest place in the entire United States and the 8th wealthiest in New Jersey.

One of the town’s appealing features is its close proximity to Manhattan, making it an ideal residential location for commuters who work in the city but desire a more peaceful suburban environment. Chatham is also renowned for its excellent schools, offering top-tier education opportunities for families, further enhancing its appeal as a desirable and welcoming place to live.

11. Westfield

Population: 30,754
Average Household Income: $259,377
Median Sales Price of Homes: $1,033,685

Located in New Jersey, Westfield is a town that exudes a unique charm, making it a cherished home for all its residents.

Its historical character is evident in the Victorian and Colonial-style homes that line the streets, offering a glimpse into its rich past. Beyond its architectural beauty, Westfield is renowned for its prestigious school system, providing an excellent education for its young residents.

Additionally, the town offers the best of both worlds, with a convenient commute to the bustling metropolis of New York City.

For modern families seeking a perfect blend of history, community, and accessibility, Westfield, New Jersey, stands as an ideal choice for settling down and creating cherished memories.

12. Montgomery

Population: 23,269
Average Household Income: $196,857
Median Sales Price of Homes: $166,339

Located in Somerset County, New Jersey, Montgomery is a charming town with a rich history that blends seamlessly with modern amenities. Its excellent schools, including top-rated public and private institutions, make it a sought-after destination for families seeking quality education for their children.

Furthermore, residents can enjoy the beauty of nature in the numerous lovely parks and open spaces scattered throughout the area. Montgomery takes great pride in being recognized as a State leader in farmland and open space preservation, ensuring its natural beauty is protected for future generations.

With a median household income of $196,857, the town is home to some of the wealthiest New Jersey residents, setting it apart from the overall state median household income of $85,751. This economic prosperity contributes to the town’s vibrant and thriving atmosphere, making Montgomery one of the richest towns in NJ.

13. Colts Neck

Population: 9,879
Average Household Income: $242,528
Median Sales Price of Homes: $1,079,284

Located in Monmouth County, New Jersey, Colts Neck is a charming township that boasts an impressive median household income, ranking fifth among municipalities in the state with over 10,000 residents.

Its allure lies in its unique combination of open spaces and its proximity to the renowned Jersey Shore. Making it an attractive destination for those seeking a serene and picturesque environment while still maintaining easy access to bustling city life.

Many of its residents are professional business people who commute daily to New York City’s financial district, thanks to its convenient commuting distance.

Moreover, Colts Neck proudly maintains a low poverty rate of only 3.0%, exemplifying the prosperity and quality of life enjoyed by its inhabitants.

14. Millburn

Population: 20,171
Average Household Income: $338,715
Median Sales Price of Homes: $1,054,346

Millburn, New Jersey, is a vibrant and affluent township with a rich and diverse community. In 2000, it boasted the 6th-highest per capita income in the state, an impressive $76,796, which is a testament to the prosperity and success of its residents.

One of the standout features of Millburn is its exceptional school system, which has consistently earned high praise. New Jersey Magazine has consistently ranked the Millburn Township school system among the top 3 school districts in the entire state, ensuring that children receive a top-notch education.

Apart from its excellent educational opportunities, the Township also offers a wide array of recreational programs catering to the interests of all age groups.

Families find the community particularly appealing due to amenities like a community pool and a par 3 golf course. With a poverty rate of just 2.50%, Millburn demonstrates a commitment to inclusivity and an environment that supports residents’ overall well-being.

15. Stone Harbor

Population: 796
Average Household Income: $160,050
Median Sales Price of Homes: $2,235,081

Nestled along the pristine shores of the Jersey Shore, Stone Harbor, New Jersey, is a captivating coastal town that has gained popularity as one of the wealthiest towns in NJ.

As described by The New York Times, the area is adorned with “gleaming McMansions and elegant shops,” a testament to the luxurious lifestyle it offers. In 2008, the average single-family home commanded an astounding price of $2.5 million, attesting to its allure among affluent homebuyers.

Despite its reputation for affluence, Stone Harbor remains conscious of its community’s well-being, boasting a commendable low poverty rate of 5.13%.

The town’s property market exudes extravagance, as evidenced by its impressive standing as the third-most expensive ZIP Code in New Jersey in 2017, along with the second-priciest residential real estate transaction that year, fetching a remarkable $10 million.

Stone Harbor stands as a captivating enclave where elegance meets coastal charm, beckoning visitors and residents alike with its unrivaled beauty and prestige.

16. Haddonfield

Population: 12,492
Average Household Income: $159,323
Median Sales Price of Homes: $688,114

Haddonfield, New Jersey, is a charming town located in the Delaware Valley, and it has earned a reputation as one of the best places to live, shop, and dine in the area, as recognized by Philadelphia Magazine.

This vibrant community boasts a thriving economy, making it one of the most economically prosperous places in New Jersey and the entire United States.

The town is renowned for its picturesque shops and delectable restaurants lining the historic Kings Highway, attracting both locals and visitors alike.

Whether strolling along the tree-lined streets or enjoying a delicious meal at one of the local eateries. Haddonfield offers a delightful experience for residents and visitors seeking a perfect blend of small-town charm and urban amenities.

17. Upper Saddle River

Population: 8,295
Average Household Income: $220,068
Median Sales Price of Homes: $1,208,702

Upper Saddle River, located in New Jersey, is a picturesque town with a per capita income of $73,639, earning it the notable 20th position in the state, according to the US Census Bureau. The combination of rural beauty and a central location makes it a highly desirable place to call home.

Notably, the town takes pride in its exceptional school system catering to Kindergarten through 8th grade while also being affiliated with the renowned Northern Highlands Regional High School, which holds an esteemed reputation in the state.

Furthermore, Upper Saddle River boasts an impressively low poverty rate of just 2.8%, underscoring the community’s prosperity and economic stability.

FAQs

What Is The Wealthiest County In NJ?

Somerset County is considered the wealthiest county in New Jersey based on median household income.

What Is The Most Expensive Area In New Jersey?

The most expensive area in New Jersey is typically considered to be some of the upscale communities in Bergen County. Towns like Alpine, Saddle River, and Franklin Lakes are among the most expensive areas due to their exclusive neighborhoods, luxury real estate, and high standard of living.

Where Do Millionaires Live In NJ?

Millionaires in New Jersey tend to live in affluent communities such as Harding Township, Chatham, Mendham, and Short Hills.

Is Jersey City Cheaper Than New York?

Jersey City is generally considered to be more affordable than New York City. The cost of living, including housing, transportation, and daily expenses, is typically lower in Jersey City compared to New York City.

Is Jersey City As Expensive As NYC?

Jersey City is generally considered to be less expensive than New York City, but it’s not as affordable as some other areas in New Jersey.

Richest Towns In NJ: Final Thoughts

New Jersey continues to boast several affluent towns that stand out for their wealth and prosperity. The 17 richest towns in the state, including notable communities like Alpine, Saddle River, and Short Hills, reflect the continued allure of upscale living and prestigious neighborhoods.

With their picturesque settings, luxurious properties, and proximity to major cities, these towns attract high-net-worth individuals seeking a superior quality of life.