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 2,505,000 2,116,000 1,451,000 8,909,000 327,167,000
Pop growth, 10-year change1 2.2% 5.3% 1.7% 2.3% 7.6%
GDP, billions2 $168 $141 $99 $599 $19,485
Job growth, 5-year change1 4.6% 5.6% 10.2% 5.9% 9.3%
Median household income2 $84,000 $76,000 $90,000 $79,000 $60,000
Median home price2 $380,000 $400,000 $350,000 $320,000 $200,000
Pop share age 25+ with BA+2 41.8% 42.1% 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
Newark Economic Indicators (detailed data and timely updates)
NEW: Early Benchmarked Employment Data
Newark Metro Division 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)
Latino-Owned Businesses: Shining a Light on National Trends (released Nov 2018)
Investing in America's Workforce—Newark (2017)
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)