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)
NEW: Early Benchmarked Employment Data
Bergen-Hudson-Passaic Household Debt & Credit Snapshot (Q4 2018)
New Jersey Household Debt & Credit Snapshot (Q4 2018)
Labor Markets in the Region Are Exceptionally Tight (Dec 4, 2018)
Just Released: Economic Press Briefing Focuses on Regional Wage Inequality (Aug 10, 2017)
A Tale of Two States: The Recession's Impact on N.Y. and N.J. School Finances (Feb 2017)