07005 Income Statistics

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07005 Compared to Surrounding Areas

Median Household Income

The median household income ($104,531) for 07005 is less than the median household income for 07866 ($115,263), 07045 ($155,565), 07405 ($117,077), 07834 ($143,481), 07046 ($225,069), Morris County ($117,298), Montville ($142,587), Boonton ($145,050), and Rockaway ($123,230). But it's more than 07054 ($98,178), 07082 ($91,063), 07034 ($80,370), Parsippany-Troy Hills ($99,367), and Boonton ($85,211).

07005$104,531
Boonton$145,050
Montville$142,587
Parsippany-Troy Hills$99,367
Rockaway$123,230
Boonton$85,211
Morris County$117,298

Average Household Income

The average household income ($138,199) for 07005 is less than the average household income for 07046 ($300,627), 07045 ($201,678), 07082 ($147,269), 07405 ($151,725), 07834 ($164,831), Morris County ($156,161), Montville ($177,573), Boonton ($199,006), and Rockaway ($143,886). But it's more than 07054 ($123,532), 07034 ($99,062), 07866 ($137,400), Parsippany-Troy Hills ($124,214), and Boonton ($108,643).

07005$138,199
Boonton$199,006
Montville$177,573
Parsippany-Troy Hills$124,214
Rockaway$143,886
Boonton$108,643
Morris County$156,161

Per-Capita Income

The per-capita income for 07005 is $52,693. The per capita income ($52,693) for 07005 is less than the per capita income for 07046 ($96,304), 07082 ($57,554), 07405 ($58,266), 07834 ($63,910), 07045 ($73,864), Morris County ($58,981), Boonton ($66,633), and Montville ($66,585). But it's more than 07054 ($48,445), 07034 ($40,809), 07866 ($51,138), Rockaway ($52,623), Parsippany-Troy Hills ($48,896), and Boonton ($43,216).

07005$52,693
Boonton$66,633
Montville$66,585
Parsippany-Troy Hills$48,896
Rockaway$52,623
Boonton$43,216
Morris County$58,981

High Income Households

% of households make over $200,000 a year. The percent high income households (21.8%) for 07005 is less than the percent high income households for 07045 (37.6%), 07405 (23.1%), 07834 (25.8%), 07046 (55.0%), Morris County (24.2%), Boonton (38.9%), and Montville (29.8%). But it's more than 07054 (17.2%), 07034 (7.8%), 07866 (19.7%), Rockaway (21.3%), Parsippany-Troy Hills (16.5%), and Boonton (13.2%).And it's the same as 07082 (21.8%).

0700521.8%
Boonton38.9%
Montville29.8%
Parsippany-Troy Hills16.5%
Rockaway21.3%
Boonton13.2%
Morris County24.2%

Median Household Income by Age of Householder

under 25 years 25 to 44 years 45 to 64 years 65 years and over
07005 $85,357 $113,456 $135,806 $61,889
Boonton $-1 $250,001 $167,813 $105,250
Montville $-1 $151,271 $178,247 $64,681
Parsippany-Troy Hills $76,233 $101,395 $123,082 $65,867
Rockaway $-1 $135,901 $139,643 $72,019
Boonton $85,357 $95,473 $115,057 $45,179
Morris County $66,485 $125,612 $143,962 $75,529

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About the Data

Sources & Margins of Error

All income statistics above are the most current, comparable income statistics available from the US Census Bureau and are from the American Community Survey 2020 5-year estimates. These values are in 2020 inflation-adjusted dollars and were downloaded on 17 March 2022.

The following data tables were used:

  • B19001 Household Income in the Past 12 Months (in 2020 inflation-adjusted dollars)
  • B19013 Median Household Income in the Past 12 Months (in 2020 inflation-adjusted dollars)
  • B19301 Per Capita Income in the Past 12 Months (in 2020 inflation-adjusted dollars)
  • S1902 Mean Income in the Past 12 Months (in 2020 inflation-adjusted dollars)
  • B19049 Median Household Income in the Past 12 Months (in 2020 inflation-adjusted dollars) By Age Of Householder

Margins of error for the above income data are:

Median Household Income Average Household Income Per Capita Income High Income Households Median Household Income by Age of Householder
under 25 25 to 44 45 to 64 65+
07005 +/-$16,156 +/-$10,513 +/-$3,393 +/-3.2% +/-$70,690 +/-$20,201 +/-$16,011 +/-$15,576
Boonton +/-$32,658 +/-$24,366 +/-$8,295 +/-8.4% +/-$-1 +/-$-1 +/-$68,627 +/-$62,387
Montville +/-$13,284 +/-$16,004 +/-$4,487 +/-4.3% +/-$-1 +/-$10,714 +/-$11,478 +/-$38,938
Parsippany-Troy Hills +/-$3,622 +/-$4,374 +/-$1,642 +/-1.9% +/-$1,109 +/-$8,373 +/-$12,681 +/-$9,790
Rockaway +/-$8,856 +/-$8,286 +/-$3,266 +/-3.1% +/-$-1 +/-$18,059 +/-$21,400 +/-$9,395
Boonton +/-$13,884 +/-$11,069 +/-$3,551 +/-3.2% +/-$70,690 +/-$16,430 +/-$22,897 +/-$21,620
Morris County +/-$2,241 +/-$2,146 +/-$828 +/-0.6% +/-$18,030 +/-$3,030 +/-$2,777 +/-$2,844