07005 Income Statistics

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07005 Compared to Surrounding Areas

Median Household Income

The median household income ($120,783) for 07005 is less than the median household income for Morris County ($130,808), Boonton township ($168,558), Denville township ($156,406), Montville township ($161,108), and Rockaway township ($137,260). But it's more than Parsippany-Troy Hills township ($109,308) and Boonton town ($96,500).

07005$120,783
Montville township$161,108
Boonton township$168,558
Denville township$156,406
Boonton town$96,500
Parsippany-Troy Hills township$109,308
Rockaway township$137,260
Morris County$130,808

Average Household Income

The average household income ($156,041) for 07005 is less than the average household income for Morris County ($178,045), Boonton township ($229,677), Denville township ($181,749), Montville township ($202,683), and Rockaway township ($169,457). But it's more than Parsippany-Troy Hills township ($143,405) and Boonton town ($118,463).

07005$156,041
Montville township$202,683
Boonton township$229,677
Denville township$181,749
Boonton town$118,463
Parsippany-Troy Hills township$143,405
Rockaway township$169,457
Morris County$178,045

Per-Capita Income

The per-capita income for 07005 is $59,223. The per capita income ($59,223) for 07005 is less than the per capita income for Morris County ($67,555), Boonton township ($75,042), Denville township ($69,270), Montville township ($74,511), and Rockaway township ($61,823). But it's more than Parsippany-Troy Hills township ($57,762) and Boonton town ($47,574).

07005$59,223
Montville township$74,511
Boonton township$75,042
Denville township$69,270
Boonton town$47,574
Parsippany-Troy Hills township$57,762
Rockaway township$61,823
Morris County$67,555

High Income Households

25.2% of households make over $200,000 a year. The percent high income households (25.2%) for 07005 is more than Morris County (29.8%), Boonton township (44.6%), Denville township (30.6%), Montville township (39.5%), Parsippany-Troy Hills township (22.3%), Rockaway township (27.6%), and Boonton town (16.1%).

0700525.2%
Montville township39.5%
Boonton township44.6%
Denville township30.6%
Boonton town16.1%
Parsippany-Troy Hills township22.3%
Rockaway township27.6%
Morris County29.8%

Median Household Income by Age of Householder

under 25 years 25 to 44 years 45 to 64 years 65 years and over
07005$55,375$151,010$143,981$73,892
Montville township$-1$162,437$220,428$85,729
Boonton township$-1$250,001$207,813$89,375
Denville township$-1$176,817$181,637$98,178
Boonton town$-1$122,607$108,000$44,625
Parsippany-Troy Hills township$85,684$114,857$141,985$77,581
Rockaway township$-1$153,393$152,329$79,244
Morris County$85,508$140,890$163,973$85,541

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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 2022 5-year estimates. These values are in 2022 inflation-adjusted dollars and were downloaded on 7 December 2023.

The following data tables were used:

  • B19001 Household Income in the Past 12 Months (in 2022 inflation-adjusted dollars)
  • B19013 Median Household Income in the Past 12 Months (in 2022 inflation-adjusted dollars)
  • B19301 Per Capita Income in the Past 12 Months (in 2022 inflation-adjusted dollars)
  • S1902 Mean Income in the Past 12 Months (in 2022 inflation-adjusted dollars)
  • B19049 Median Household Income in the Past 12 Months (in 2022 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+/-$11,351+/-$11,449+/-$3,913+/-3.7%+/-$44,209+/-$24,353+/-$25,034+/-$9,080
Montville township+/-$13,189+/-$13,189+/-$4,461+/-4.0%+/-$-1+/-$20,753+/-$18,770+/-$45,531
Boonton township+/-$37,650+/-$24,342+/-$8,732+/-7.7%+/-$-1+/-$-1+/-$60,146+/-$48,233
Denville township+/-$16,802+/-$13,389+/-$5,052+/-4.4%+/-$-1+/-$16,039+/-$19,445+/-$17,998
Boonton town+/-$19,392+/-$12,632+/-$4,221+/-4.1%+/-$-1+/-$17,784+/-$25,984+/-$42,718
Parsippany-Troy Hills township+/-$6,608+/-$5,477+/-$2,255+/-1.8%+/-$32,460+/-$11,221+/-$15,269+/-$9,655
Rockaway township+/-$7,207+/-$10,932+/-$4,008+/-3.3%+/-$-1+/-$20,186+/-$13,745+/-$16,919
Morris County+/-$2,727+/-$3,246+/-$1,164+/-0.8%+/-$25,035+/-$2,984+/-$5,748+/-$3,633