Located in the northeastern corner of New Jersey, the Bergen-Hudson-Passaic area has a population of nearly 2.2 million, and includes Jersey City, Paterson, Clifton, Union City, Bayonne, Hoboken, and Fort Lee. Jersey City is sometimes referred to as New York City’s sixth borough, given its proximity and connection by the PATH rapid-transit system, tunnel, and ferry to the City. While the area has seen a decline in its manufacturing employment base in recent decades, the health and education sector has grown significantly, as has the area’s leisure and hospitality sector. Financial services employment, which is particularly important to the Hudson County economy, was struggling for some time, but has expanded recently. Bergen County has remarkably high incomes and educational attainment, in contrast with Passaic County and parts of Hudson County.

Economic and Demographic Trends
Bergen-Hudson-Passaic Newark* Middlesex-Monmouth* New Jersey USA
Population1 2,116,000 2,505,000 1,451,000 8,909,000 327,167,000
Pop growth, 10-year change1 5.3% 2.2% 1.7% 2.3% 7.6%
GDP, billions2 $141 $168 $99 $599 $19,485
Job growth, 5-year change1 5.6% 4.6% 10.2% 5.9% 9.3%
Median household income2 $76,000 $84,000 $90,000 $79,000 $60,000
Median home price2 $400,000 $380,000 $350,000 $320,000 $200,000
Pop share age 25+ with BA+2 42.1% 41.8% 45.0% 39.7% 32.0%

1 2018

2 2017

* Neighboring Metros

Sources: U.S. Census Bureau; U.S. Bureau of Labor Statistics; U.S. Bureau of Economic Analysis; IPUMS USA-University of Minnesota; New York Fed calculations. Data retrieved through American FactFinder, Moody's, or directly from source.

Reports & Analysis
Bergen-Hudson-Passaic Economic Indicators (detailed data and timely updates)
Early Benchmarked Employment Data (Sep 3, 2020)
Tracking the Spread of COVID-19 in the Region (August 27, 2020)
Jason Bram's Briefing on Regional Economic Conditions During the Pandemic (July 14, 2020)
Finally, Some Signs of Improvement in the Regional Economy (Jun 16, 2020)
New York Fed Surveys: Business Activity in the Region Sees Historic Plunge in April (Apr 16, 2020)
Businesses in the Tri-State Region Struggling to Weather the Coronavirus Outbreak (Mar 30, 2020)
Bergen-Hudson-Passaic Household Debt & Credit Snapshot (Q4 2018)
New Jersey Household Debt & Credit Snapshot (Q4 2018)
Press Briefing on Economic Conditions in the Region (Dec 17, 2019 Webcast)
Growth Has Slowed across the Region (Dec 17, 2019)
President Williams's Visit to New Jersey (Nov 1, 2019)