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07940 Map

07940 Income Statistics

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Comparison to Surrounding Areas

07940 Median Household Income

The median household income ($163,643) for 07940 is less than the median household income for 07928 ($223,547) and Chatham township ($208,910). But it's more than 07961 ($-1), 07932 ($140,602), 07960 ($146,024), 07935 ($143,250), Morris County ($130,808), Madison borough ($163,567), and Florham Park borough ($141,620).

07940$163,643
Madison borough$163,567
Chatham township$208,910
Florham Park borough$141,620
Morris County$130,808

07940 Average Household Income

The average household income ($240,119) for 07940 is less than the average household income for 07928 ($318,123) and Chatham township ($328,478). But it's more than 07961 ($-1), 07932 ($179,022), 07960 ($214,951), 07935 ($163,652), Morris County ($178,045), Madison borough ($238,765), and Florham Park borough ($183,050).

07940$240,119
Madison borough$238,765
Chatham township$328,478
Florham Park borough$183,050
Morris County$178,045

07940 Per-Capita Income

The per-capita income for 07940 is $77,199. The per capita income ($77,199) for 07940 is less than the per capita income for 07928 ($110,232), 07960 ($86,498), Madison borough ($82,074), and Chatham township ($118,896). But it's more than 07961 ($7,009), 07932 ($74,763), 07935 ($65,924), Morris County ($67,555), and Florham Park borough ($66,939).

07940$77,199
Madison borough$82,074
Chatham township$118,896
Florham Park borough$66,939
Morris County$67,555

07940 High Income Households

40.6% of households make over $200,000 a year. The percent high income households (40.6%) for 07940 is more than 07935 (32.8%), 07961 (-1.0%), 07928 (54.8%), 07932 (31.3%), 07960 (35.5%), Morris County (29.8%), Madison borough (40.5%), Chatham township (51.6%), and Florham Park borough (32.0%).

0794040.6%
Madison borough40.5%
Chatham township51.6%
Florham Park borough32.0%
Morris County29.8%

07940 Median Household Income by Age of Householder

under 25 years 25 to 44 years 45 to 64 years 65 years and over
07940$-1$185,660$191,967$95,573
Madison borough$-1$185,660$191,783$95,313
Chatham township$-1$250,001$250,001$98,393
Florham Park borough$-1$163,214$174,363$110,033
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. You can find this information and other demographics for 07940 on the US Census Bureau’s website. 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+
07940+/-$14,306+/-$17,738+/-$5,671+/-3.6%+/-$-1+/-$18,051+/-$20,618+/-$23,872
Madison borough+/-$14,407+/-$17,711+/-$6,006+/-3.6%+/-$-1+/-$18,051+/-$19,465+/-$24,892
Chatham township+/-$32,736+/-$31,229+/-$12,221+/-5.2%+/-$-1+/-$-1+/-$-1+/-$18,434
Florham Park borough+/-$15,772+/-$21,164+/-$7,083+/-5.3%+/-$-1+/-$31,785+/-$33,864+/-$23,353
Morris County+/-$2,727+/-$3,246+/-$1,164+/-0.8%+/-$25,035+/-$2,984+/-$5,748+/-$3,633