Millionaire epicenter in each N.J. county

Millionaire epicenter in each N.J. county

16 Haziran 2018 - 02:00

When it comes to million-dollar homes, the question of location is a very real one. Small towns in Bergen and the Jersey Shore are full of wealthy residents, while South Jersey and rural areas of North Jersey have few mansions.

In New Jersey, the top 20 percent of residents earn more than half of all income, according to the 2012-2016 Census snapshot. The top 5 percent of residents — the wealthy homeowners on this list — earn more than 20 percent.

These towns are the exception to the rule, the top in their area. But in many counties, the pickings are slim. Salem County did not make the list at all.

New Jersey has the third-highest income in the nation, and a few of its counties — Hunterdon and Somerset — were in the top 15 counties nationally with the highest median household income, based on Census data.

But those counties were not the leaders when it came to million-dollar homes. That's because many of the wealthiest residents in the state are scattered in small towns nestled between lower-income municipalities. There is extreme wealth in Essex County, for example, but it is also home to Newark and Irvington, two of the poorest areas in the state.

A note about the data: This story was based on 2017 property tax assessment records for residential properties aggregated by town. Because assessments are conducted at different times for each towns, some homes may be undervalued if it's been a long time since the last assessment.

20. Millville, Cumberland County

Number of million-dollar homes: 1

Percent million: 0.01 percent

Average home value: $125,326

19. Harrison, Gloucester County

Number of million-dollar homes: 3

Percent million: 0.08 percent

Average home value: $340,968

18. Frelinghuysen, Warren County

Number of million-dollar homes: 1

Percent million: 0.16 percent

Average home value: $314,592


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