The Borough of Prospect Park had a population of 5,831 as of July 1, 2019. Prospect Park ranks in the upper quartile for Population Density and Diversity Index when compared to the other cities, towns and Census Designated Places (CDPs) in New Jersey. See peer rankings below.
The primary coordinate point for Prospect Park is located at latitude 40.937 and longitude -74.1743 in Passaic County. The formal boundaries for the Borough of Prospect Park encompass a land area of 0.48 sq. miles and a water area of 0 sq. miles. Passaic County is in the Eastern time zone (GMT -5). The elevation is 233 feet.
The Borough of Prospect Park (GNIS ID: 885362) 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.
HOUSING AFFORDABILITY INDEX
|Prospect Park, NJ Housing Affordability Index is 79
State of New Jersey Housing Affordability Index is 91
|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.|
|Prospect Park, NJ Wealth Index is 56
State of New Jersey Wealth Index is 148
|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.|
These new demographic attributes are availiable for Neighborhoods, Cities, Counties, and ZIP Codes.
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|Population in Households||5,829|
|Population in Familes||5,202|
|Population in Group Qrtrs||2|
|Median Household Income||$59,029|
|Average Household Income||$74,014|
|Per Capita Income||$22,404|
|Total Housing Units||1,934 (100%)|
|Owner Occupied HU||770 (39.8%)|
|Renter Occupied HU||995 (51.4%)|
|Vacant Housing Units||169 ( 8.7%)|
|Median Home Value||$257,143|
|Housing Affordability Index2||79|
|Average Household Size||3.3|
|Average Family Size||4|
GROWTH RATE / YEAR
|Median Household Income||1.96%|
|Per Capita Income||2.48%|
The table below compares Prospect Park to the other 545 incorporated cities, towns and CDPs in New Jersey by rank and percentile using July 1, 2019 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.
|Total Population||# 242||56th|
|Population Density||# 19||97th|
|Diversity Index||# 14||98th|
|Median Household Income||# 461||16th|
|Per Capita Income||# 521||5th|
Additional comparisons and rankings can be made with a VERY EASY TO USE New Jersey Census Data Comparison Tool.