Newark Metro Division

With a population of more than 2.5 million, the Newark metropolitan division covers much of northern New Jersey, including Essex, Union, Morris, Sussex, Somerset, and Hunterdon counties, as well as Pike County in Pennsylvania. Employment growth in the region has been slower than that of the nation through the expansion, and significantly slower than in New York City. Some of the major industries include insurance, air transportation, communications, pharmaceuticals, and health care. On average, the area’s population is significantly more affluent and well-educated than the nation’s, and slightly more so than New Jersey’s as a whole. Still, there are large pockets of poverty in many of this area’s cities, such as Newark, Elizabeth, East Orange, and Plainfield, and these cities had many foreclosures during and after the Great Recession.

Economic and Demographic Trends
Newark Bergen-Hudson-Passaic* Middlesex-Monmouth* New Jersey USA
Population1 2,497,000 2,106,000 1,444,000 8,882,000 328,240,000
Pop growth, 10-year change1 1.4% 3.9% 0.7% 1.4% 7.0%
GDP, billions1 $211 $155 $102 $635 $21,433
Job growth, 5-year change1 4.9% 5.0% 9.2% 6.0% 8.6%
Median household income1 $88,000 $89,000 $97,000 $85,000 $65,000
Median home price1 $400,000 $400,000 $375,000 $350,000 $230,000
Pop share age 25+ with BA+1 41.8% 44.6% 45.7% 41.2% 33.1%


1 2019

* Neighboring Metros

Sources: U.S. Census Bureau; U.S. Bureau of Labor Statistics; U.S. Bureau of Economic Analysis; IPUMS USA-University of Minnesota. Data retrieved through data.census.gov, Moody's Economy.com, or directly from source.

Reports & Analysis
Newark Economic Indicators (detailed data and timely updates)
Early Benchmarked Employment Data (Mar 10, 2021)
Press Briefing on Economic Conditions in the Region (Dec 2, 2020 Webcast)
Tracking the Spread of COVID-19 in the Region (Aug 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)
Newark Metro Division Household Debt & Credit Snapshot (Q4 2018)
New Jersey Household Debt & Credit Snapshot (Q4 2018)
Growth Has Slowed across the Region (Dec 17, 2019)
President Williams's Visit to New Jersey (Nov 1, 2019)
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