Florham Park, NJ Profile: Facts & Data

Florham Park, New Jersey - Basic Facts

The Borough of Florham Park had a population of 13,289 as of July 1, 2024.

The primary coordinate point for Florham Park is located at latitude 40.7879 and longitude -74.3882 in Morris County. The formal boundaries for the Borough of Florham Park encompass a land area of 7.32 sq. miles and a water area of 0.19 sq. miles. Morris County is in the Eastern time zone (GMT -5).

The Borough of Florham Park has a C5 Census Class Code which indicates an active incorporated place that is independent of any county subdivision and serves as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.

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Florham Park, NJ Data & Demographics (As of July 1, 2024)

POPULATION
Total Population	13,289 (100%)
Population in Households	11,902 (89.6%)
Population in Families	9,898 (74.5%)
Population in Group Quarters¹	1,387 (10.4%)
Population Density	1,817
Diversity Index²	50


INCOME
Median Household Income	$146,152
Average Household Income	$198,195
% of Income for Mortgage⁴	35%
Per Capita Income	$73,964
Wealth Index⁵	201
Socioeconomic Status Index⁶	High (65.9)

HOUSING
Total HU (Housing Units)	5,374 (100%)
Owner Occupied HU	3,409 (63.4%)
Renter Occupied HU	1,550 (28.8%)
Vacant Housing Units	415 ( 7.7%)
Median Home Value	$819,159
Average Home Value	$861,345
Housing Affordability Index³	61

HOUSEHOLDS
Total Households	4,959
Average Household Size	2.40
Family Households	3,294
Average Family Size	3.00

HOUSING

Total HU (Housing Units)

5,374 (100%)

Owner Occupied HU

3,409 (63.4%)

Renter Occupied HU

1,550 (28.8%)

Vacant Housing Units

415 ( 7.7%)

Median Home Value

$819,159

Average Home Value

$861,345

Housing Affordability Index³

HOUSEHOLDS

Total Households

4,959

Average Household Size

2.40

Family Households

3,294

Average Family Size

3.00

NOTES

Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.
The Socioeconomic Index ranges from zero (lowest relative status) to 100 (highest relative status). This measure quantifies disparities in social position of an area's inhabitants and is built from a broad range of demographic, housing, and socioeconomic inputs. More information on this measure can be found in Esri's SEI tutorial.

GROWTH RATE / YEAR	2020-2024	2024-2029
Population	1.29%	0.06%
Households	2.48%	0.44%
Families		0.43%
Median Household Income		1.97%
Per Capita Income		2.82%
Owner Occupied HU		0.64%

GROWTH RATE / YEAR

2020-2024

2024-2029

Population

1.29%

0.06%

Households

2.48%

0.44%

Families

0.43%

Median Household Income

1.97%

Per Capita Income

2.82%

Owner Occupied HU

0.64%

Florham Park, NJ - Peer Comparisons by Rank and Percentile

The table below compares Florham Park to the other 700 incorporated cities, towns and CDPs in New Jersey by rank and percentile using July 1, 2024 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

Variable Description	Rank	Percentile
Total Population	# 102	86th
Population Density	# 392	44th
Median Household Income	# 152	78th
Housing Affordability Index	# 151	22nd
Per Capita Income	# 166	76th
Diversity Index	# 384	46th

Variable Description

Rank

Percentile

Total Population

# 102

86th

Population Density

# 392

44th

Median Household Income

# 152

78th

Housing Affordability Index

# 151

22nd

Per Capita Income

# 166

76th

Diversity Index

# 384

46th

New Jersey Census Data Comparison Tool

Florham Park, NJ Profile: Facts & Data

Florham Park, New Jersey - Basic Facts

Florham Park, NJ Data & Demographics (As of July 1, 2024)

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

Florham Park, NJ - Peer Comparisons by Rank and Percentile

Florham Park, NJ - Most Popular Things to Do

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