Far Hills, NJ Profile: Facts & Data

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Far Hills, New Jersey - Basic Facts

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The Borough of Far Hills had a population of 956 as of July 1, 2021. Far Hills ranks in the lower quartile for Population Density when compared to the other cities, towns and Census Designated Places (CDPs) in New Jersey. See peer rankings below.

The primary coordinate point for Far Hills is located at latitude 40.6843 and longitude -74.6357 in Somerset County. The formal boundaries for the Borough of Far Hills encompass a land area of 4.8 sq. miles and a water area of 0.08 sq. miles. Somerset County is in the Eastern time zone (GMT -5). The elevation is 151 feet.

The Borough of Far Hills 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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  1. Far Hills 2021 Demographic Data
  2. Growth Rates for Far Hills (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 - 2021 Demographics
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Far Hills, NJ Data & Demographics (As of July 1, 2021)

POPULATION

Total Population 956 (100%)
Population in Households 956 (100.0%)
Population in Families 811 (84.8%)
Population in Group Quarters1 0
Population Density 197
Diversity Index2 34
 
 

INCOME

Median Household Income $121,787
Average Household Income $198,201
% of Income for Mortgage4 30%
Per Capita Income $81,271
Wealth Index5 265
 

HOUSING

Total HU (Housing Units) 432 (100%)
Owner Occupied HU 285 (66.0%)
Renter Occupied HU 107 (24.8%)
Vacant Housing Units 40 ( 9.3%)
Median Home Value $853,814
Average Home Value $1,182,018
Housing Affordability Index3 87
 

HOUSEHOLDS

Total Households 392
Average Household Size 2.44
Family Households 268
Average Family Size 3
NOTES
  1. 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.
  2. 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.
  3. 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.
  4. 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).
  5. 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

2010-2021 2021-2026
Population 0.35% 0.21%
Households 0.37% 0.2%
Families 0.3% 0.22%
Median Household Income   2.01%
Per Capita Income   2.17%
Owner Occupied HU   0.62%

Far Hills, NJ - Peer Comparisons by Rank and Percentile

The table below compares Far Hills to the other 545 incorporated cities, towns and CDPs in New Jersey by rank and percentile using July 1, 2021 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 # 467 14th
Population Density # 532 3rd
Median Household Income # 116 79th
Housing Affordability Index # 100 18th
Per Capita Income # 39 93rd
Diversity Index # 350 36th

Additional comparisons and rankings can be made with a VERY EASY TO USE New Jersey Census Data Comparison Tool.

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