Basking Ridge, NJ Profile: Facts & Data

The primary coordinate point for Basking Ridge is located at latitude 40.7062 and longitude -74.5493 in Somerset County. Somerset County is in the Eastern time zone (GMT -5).

A Census Designated Place (CDP) is a statistical counterpart to a self-governing (incorporated) place such as a city, town, or village. A CDP is not a legal entity and has no governmental functions.

Basking Ridge, NJ Data & Demographics (As of July 1, 2024)

POPULATION
Total Population	7,089 (100%)
Population in Households	7,071 (99.7%)
Population in Families	6,329 (89.3%)
Population in Group Quarters¹	18 ( 0.3%)
Population Density	1,050
Diversity Index²	46


INCOME
Median Household Income	$208,023
Average Household Income	$269,854
% of Income for Mortgage⁴	29%
Per Capita Income	$98,674
Wealth Index⁵	288
Socioeconomic Status Index⁶	High (65.3)

HOUSING
Total HU (Housing Units)	2,685 (100%)
Owner Occupied HU	2,195 (81.8%)
Renter Occupied HU	397 (14.8%)
Vacant Housing Units	93 ( 3.5%)
Median Home Value	$964,416
Average Home Value	$1,069,671
Housing Affordability Index³	72

HOUSEHOLDS
Total Households	2,592
Average Household Size	2.73
Family Households	1,907
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.

Basking Ridge, NJ - Peer Comparisons by Rank and Percentile

The table below compares Basking Ridge 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.

GROWTH RATE / YEAR	2020-2025	2025-2030
Population	-0.28%	-0.17%
Households	0.10%	0.14%
Families		0.46%
Median Household Income		2.15%
Per Capita Income		1.87%
Owner Occupied HU		0.31%

Variable Description	Rank	Percentile
Total Population	# 228	68th
Population Density	# 493	30th
Median Household Income	# 47	93rd
Housing Affordability Index	# 279	40th
Per Capita Income	# 37	95th
Diversity Index	# 438	38th

Basking Ridge, NJ Profile: Facts & Data

Basking Ridge, New Jersey - Basic Facts

Basking Ridge, NJ Data & Demographics (As of July 1, 2024)

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

Basking Ridge, NJ - Peer Comparisons by Rank and Percentile

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