Living in Towaco, New Jersey
Cost of living, income, home prices, rent and demographics of Towaco · Census data 2020–2024
Towaco has 5,612 residents with a median age of 47. The median household income is $205,636 (99% higher than the New Jersey median), the median home value is $701,300, the median rent is $1,950/month.
Towaco at a glance
- Population
- 5,612
- Median age
- 47State: 40.1
- Median household income
- $205,636State: $103,556
- Median home value
- $701,300State: $454,400
- Median rent
- $1,950/moState: $1,720
- Homeowners
- 93%
- Bachelor's degree or higher
- 73.3%
- Average commute
- 36 min
Is Towaco a good place to live?
Pros: Median household income 99% higher than the New Jersey median; unemployment of 2%; a poverty rate of 2.5%.
Cons: Home values 54% higher than the state median; an average commute of 36 minutes.
The weather is best in May–June and August–September.
Cost of living in Towaco
Housing is the biggest part of the cost of living. In Towaco the median home value is $701,300, 111% higher than the U.S. median. Renters pay a median of $1,950 per month, which is 41.8% of household income. Homeowners with a mortgage pay $3,929 a month in housing costs.
Towaco median household income
The median household income in Towaco is $205,636 and the income per person is $96,322. 2.5% of residents live below the poverty line (New Jersey: 9.7%).
Housing in Towaco: homes for sale and rent
- Housing units
- 2,052
- Owner-occupied
- 93%
- Renter-occupied
- 7%
- Vacant
- 0%Includes seasonal homes
- Median year built
- 1972
- Average household size
- 2.71
Towaco demographics
- Population
- 5,612
- Median age
- 47
- Under 18
- 21.1%
- 65 and older
- 25.1%
- Households
- 2,052
- Foreign-born
- 21.6%
- Veterans
- 3.3%Adults 18+
Hispanic or Latino can be of any race. Population history of Towaco ›
Education in Towaco
73.3% of adults 25 and older in Towaco have a bachelor's degree or higher (New Jersey: 43.6%), and 29% have a graduate or professional degree.
Jobs and commute in Towaco
- Unemployment rate
- 2%State: 6.3%
- Average commute
- 36 minState: 31 min
- Work from home
- 25%
- Drive alone
- 65.3%
- Public transit
- 6.4%
- Walk to work
- 0%
- Homes with broadband
- 98.1%
Towaco vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Towaco | 5,612 | $205,636 | $701,300 | $1,950 |
| Montville | 22,876 | $169,083 | $700,200 | $2,372 |
| Lincoln Park | 10,957 | $123,397 | $443,300 | $1,857 |
| Pequannock | 15,641 | $120,666 | $553,200 | $2,753 |
| Pompton Plains | 10,971 | $117,959 | $539,000 | $3,129 |
| Boonton | 8,854 | $114,302 | $495,400 | $1,849 |
| Fairfield | 7,824 | $115,980 | $688,500 | $2,656 |
| Lake Hiawatha | 11,018 | $104,663 | $428,600 | $1,550 |
| Pine Brook | 5,961 | $126,488 | $767,200 | $2,366 |
More for people moving to Towaco
Towaco ZIP code ›Weather and climate ›Living in Towaco: FAQ
What is the median household income in Towaco, NJ?
The median household income in Towaco is $205,636, 99% 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 Towaco?
The median home value in Towaco is $701,300, compared with $454,400 in New Jersey.
How much is rent in Towaco?
The median gross rent in Towaco is $1,950 per month, about 41.8% of household income.
Is Towaco, NJ a good place to live?
Pluses: median household income 99% higher than the New Jersey median; unemployment of 2%; a poverty rate of 2.5%. Minuses: home values 54% higher than the state median; an average commute of 36 minutes.
What is the median age in Towaco?
The median age in Towaco is 47 years (New Jersey: 40.1).
How long is the commute in Towaco?
The average commute to work in Towaco is 36 minutes; 25% of workers work from home.
What is the unemployment rate in Towaco?
The unemployment rate in Towaco is 2% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Towaco?
73.3% of adults in Towaco 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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