Hoboken, NJ Is One of the Richest Cities in the Country

The U.S. Census Bureau recently released its latest American Community Survey, offering an updated snapshot of demographic and economic conditions in the United States. According to new ACS estimates, the typical American household earned an average of $69,021 over the five years ending in 2021.

This latest figure represents a 6% increase over the five-year period ending in 2020. But while the 2021 ACS reveals a pay raise for most American households, it also highlights the significant income inequality across the United States, as there are parts of the country where incomes are far higher than average.

Hoboken, New Jersey, is one place where the median household income is more than double the national figure. The typical household in the area earns $160,890 a year, the 40th highest among all cities with sufficient data and 133.1% more than the national median.

Incomes in the United States, for individuals and across broad populations, tend to rise with higher levels of educational attainment. In Hoboken, an estimated 80.3% of adults have a bachelor’s degree or higher, well above the 33.7% share of adults nationwide with similar education levels.

All data in this story are five-year estimates from the 2021 ACS. For the purposes of this story, cities are defined as incorporated legal entities or census-designated statistical areas with populations of more than 25,000 people and can include communities that are coterminous with college or university campuses. Cities were excluded if the number of households for which income was determined was less than 1,000 in the 2021 ACS or if the sampling error associated with a place’s data was deemed too high.

RankCityMedian household income ($)Adults with a bachelor’s degree or higher (%)Median home value ($)Population1Los Altos, California250,000+85.92,000,000+31,5622University Park, Texas247,04588.51,380,60025,0293McLean, Virginia242,61084.71,102,10049,3104Southlake, Texas239,83373.0723,80030,7545Wellesley, Massachusetts226,25084.91,251,80029,3656Saratoga, California224,17980.62,000,000+31,1947San Carlos, California204,57067.71,904,40030,7548Lexington, Massachusetts202,85285.0980,10034,2359Cupertino, California199,77880.92,000,000+60,68110Potomac, Maryland198,87083.8937,00046,89111Sammamish, Washington195,64876.0939,60066,53212Palo Alto, California194,78282.72,000,000+68,62413Ridgewood, New Jersey194,25678.3789,90025,99114Lafayette, California192,54674.21,606,40025,38415Westfield, New Jersey185,31976.4810,40030,95016Needham, Massachusetts182,81381.0939,80031,80817Danville, California181,45370.41,252,40043,67318Colleyville, Texas180,69868.8586,40025,82719Menlo Park, California179,91372.62,000,000+33,67720Bethesda, Maryland178,37087.9958,40066,29421Belmont, California178,12569.21,682,00028,10922Parkland, Florida174,29566.7655,30033,77223Wilmette, Illinois173,96783.8710,40027,89524Foster City, California173,72170.21,482,50033,51125San Ramon, California173,51970.31,063,20085,68826Dublin, California171,16867.6983,00069,81827South Riding, Virginia170,45668.2571,30033,82828Mercer Island, Washington170,00077.51,504,50025,50629Ladera Ranch, California169,70665.8863,40025,52630Manhattan Beach, California169,58677.92,000,000+35,58531Plainview, New York168,14069.0632,30026,66532Pleasanton, California167,93266.31,116,80079,55833Los Gatos, California166,64273.41,893,20033,30934Brentwood, Tennessee165,94875.6711,90044,35435Princeton, New Jersey165,14985.3893,60030,71736Newton, Massachusetts164,60780.2992,80088,64737Mill Creek East, Washington161,68460.4637,30025,52838Sunnyvale, California161,67066.81,528,500155,55039Olney, Maryland161,06566.0551,30035,81540Hoboken, New Jersey160,89080.3777,60059,36941Leawood, Kansas159,54074.7498,90033,74842Prosper, Texas159,16463.7524,70028,82543Rancho Palos Verdes, California158,99668.41,247,60042,31644Mountain View, California158,10472.11,613,30082,40945North Tustin, California157,48757.7973,80025,70846Burke, Virginia157,33664.2573,90044,19147Milton, Massachusetts153,97165.0710,70028,38248Commack, New York153,85856.4560,80036,25249Fremont, California153,47560.11,069,700231,50250Highland Park, Illinois153,22676.4523,50030,245

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