New Census Data Shows Income Gaps Among New Jersey Households in 2024

New 2024 Census Bureau data shows how much New Jersey families make and how income levels vary by community. The figures demonstrate that despite the state is one of the highest-income, not all households benefit.

The 2024 American Community Survey median household income in New Jersey was $104,294. Median income indicates half the families earn more and half less. Economists and government bodies use it to measure financial health without high earnings skewing it.

Asian households earned $152,342 in 2024, the highest median income in the state. They’re well above the state median. White households had a median income of $117,670 that year.

Black homes made $76,291, while Hispanic households made $75,448. These numbers show a large income discrepancy between state communities.

The report assessed poverty. In 2024, 6.2% of Asian New Jerseyans lived below the federal poverty level. This percentage was lower than other state demographic categories, showing income and financial stability inequalities.

Data showed national patterns. Asian household median income rose 5.1 percent and Hispanic household median income rose 5.5 percent between 2023 and 2024, according to the Census Bureau. Black household median income fell 3.3% throughout the same time. These year-over-year fluctuations illustrate that some towns’ incomes rose, while others fell.

The one-year American Community Survey gives a snapshot of US economic, housing, and social conditions. Many policymakers, researchers, and local governments utilize the survey to develop economic and public policies.

New Jersey has always had high household incomes, but recent data shows that economic gains are not evenly dispersed. Families, community leaders, and governments must understand these income patterns to address economic issues and expand financial opportunities in the state.

As inflation, housing costs, and everyday expenses affect household budgets, income data like this helps communities understand their financial situation. The data show New Jersey’s economic strength and financial inequities.