Prospect Park, NJ Profile: Facts & Data

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Prospect Park, New Jersey - Basic Facts

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.


Jump to... (On This Page!)
  1. Prospect Park 2019 Demographic Data
  2. Growth Rates for Prospect Park (Historical & 5-Year Forecast)
  3. Peer Comparisons (Rank and Percentile)
  1. Neighborhoods Demographics (Home Values, Household Income, etc.)
  2. New Jersey Research Tools (Easy Tools & Current Data)
  3. New Jersey Data Comparison Tool - 2019 Demographics

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Boundary Maps, Demographic Data, School Zones Review maps and data for the neighborhood, city, county, ZIP Code, and school zone. July 1, 2019, data includes home values, household income, percentage of homes owned, rented or vacant, etc.


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Prospect Park, NJ Data & Demographics (As of July 1, 2019)

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.

WEALTH INDEX

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.

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  4. See the References & Data Sources page for more information about methodology and sources of data.

POPULATION

Total Population 5,831
Population in Households 5,829
Population in Familes 5,202
Population in Group Qrtrs 2
Population Density 12,532
Diversity Index1 87
 

INCOME

Median Household Income $59,029
Average Household Income $74,014
Per Capita Income $22,404
Wealth Index3 56

HOUSING

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
 

HOUSEHOLDS

Total Households 1,765
Average Household Size 3.3
Family Households 1,430
Average Family Size 4
NOTES
  1. 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 race 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.
  2. 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.
  3. 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.

GROWTH RATE / YEAR

2010-2019 2019-2024
Population -0.06% 0.01%
Households -0.19% -0.07%
Families -0.19% -0.08%
Median Household Income   1.96%
Per Capita Income   2.48%

Prospect Park, NJ - Peer Comparisons by Rank and Percentile

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.

Variable Description Rank Percentile
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.

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