Living in Preakness, New Jersey
Cost of living, income, home prices, rent and demographics of Preakness · Census data 2020–2024
Preakness has 18,520 residents with a median age of 41. The median household income is $133,205 (29% higher than the New Jersey median), the median home value is $617,700, the median rent is $1,918/month.
Preakness at a glance
- Population
- 18,520
- Median age
- 41State: 40.1
- Median household income
- $133,205State: $103,556
- Median home value
- $617,700State: $454,400
- Median rent
- $1,918/moState: $1,720
- Homeowners
- 70.6%
- Bachelor's degree or higher
- 57.1%
- Average commute
- 30 min
Is Preakness a good place to live?
Pros: Median household income 29% higher than the New Jersey median; an average commute of 30 minutes; unemployment of 4.6%; a poverty rate of 3.3%.
Cons: Home values 36% higher than the state median.
The weather is best in May–June and August–September.
Cost of living in Preakness
Housing is the biggest part of the cost of living. In Preakness the median home value is $617,700, 86% higher than the U.S. median. Renters pay a median of $1,918 per month, which is 30.7% of household income. Homeowners with a mortgage pay $3,542 a month in housing costs.
Preakness median household income
The median household income in Preakness is $133,205 and the income per person is $57,082. 3.3% of residents live below the poverty line (New Jersey: 9.7%).
Housing in Preakness: homes for sale and rent
- Housing units
- 6,759
- Owner-occupied
- 70.6%
- Renter-occupied
- 29.4%
- Vacant
- 2.3%Includes seasonal homes
- Median year built
- 1967
- Average household size
- 2.76
Preakness demographics
- Population
- 18,520
- Median age
- 41
- Under 18
- 23.7%
- 65 and older
- 20.4%
- Households
- 6,602
- Foreign-born
- 21.8%
- Veterans
- 2.9%Adults 18+
Hispanic or Latino can be of any race. Population history of Preakness ›
Education in Preakness
57.1% of adults 25 and older in Preakness have a bachelor's degree or higher (New Jersey: 43.6%), and 24.1% have a graduate or professional degree.
Jobs and commute in Preakness
- Unemployment rate
- 4.6%State: 6.3%
- Average commute
- 30 minState: 31 min
- Work from home
- 16.9%
- Drive alone
- 70.2%
- Public transit
- 5.1%
- Walk to work
- 0.8%
- Homes with broadband
- 92.9%
Preakness vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Preakness | 18,520 | $133,205 | $617,700 | $1,918 |
| Wayne | 53,756 | $153,056 | $612,700 | $2,164 |
| Packanack Lake | 6,321 | $213,103 | $601,000 | $3,501 |
| Haledon | 8,980 | $95,870 | $396,400 | $1,750 |
| Totowa | 10,959 | $113,563 | $559,300 | $2,072 |
| Prospect Park | 6,319 | $53,125 | $406,800 | $1,647 |
| North Haledon | 8,778 | $125,313 | $547,600 | $2,369 |
| Paterson | 158,735 | $55,997 | $360,100 | $1,548 |
| Hawthorne | 19,628 | $110,237 | $533,700 | $1,830 |
More for people moving to Preakness
Preakness ZIP code ›Weather and climate ›Living in Preakness: FAQ
What is the median household income in Preakness, NJ?
The median household income in Preakness is $133,205, 29% higher than the New Jersey median of $103,556 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Preakness?
The median home value in Preakness is $617,700, compared with $454,400 in New Jersey.
How much is rent in Preakness?
The median gross rent in Preakness is $1,918 per month, about 30.7% of household income.
Is Preakness, NJ a good place to live?
Pluses: median household income 29% higher than the New Jersey median; an average commute of 30 minutes; unemployment of 4.6%; a poverty rate of 3.3%. Minuses: home values 36% higher than the state median.
What is the median age in Preakness?
The median age in Preakness is 41 years (New Jersey: 40.1).
How long is the commute in Preakness?
The average commute to work in Preakness is 30 minutes; 16.9% of workers work from home.
What is the unemployment rate in Preakness?
The unemployment rate in Preakness is 4.6% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Preakness?
57.1% of adults in Preakness have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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