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New Providence, NJ Profile: Facts & Data

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New Providence, New Jersey - Basic Facts

The Borough of New Providence had a population of 12,830 as of July 1, 2020.

The primary coordinate point for New Providence is located at latitude 40.6984 and longitude -74.4015 in Union County. The formal boundaries for the Borough of New Providence encompass a land area of 3.64 sq. miles and a water area of 0.03 sq. miles. Union County is in the Eastern time zone (GMT -5). The elevation is 230 feet.

The Borough of New Providence (GNIS ID: 885321) 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.

Alternate Unofficial Names for New Providence: Turkey.

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New Providence, NJ Data & Demographics (As of July 1, 2020)

POPULATION

Total Population 12,830 (100%)
Population in Households 12,701 (99.0%)
Population in Families 11,253 (87.7%)
Population in Group Quarters1 129 ( 1.0%)
Population Density 3,479
Diversity Index2 45
 
 

INCOME

Median Household Income $159,054
Average Household Income $212,370
% of Income for Mortgage4 16%
Per Capita Income $76,158
Wealth Index5 301
 

HOUSING

Total HU (Housing Units) 4,721 (100%)
Owner Occupied HU 3,400 (72.0%)
Renter Occupied HU 1,214 (25.7%)
Vacant Housing Units 107 ( 2.3%)
Median Home Value $623,547
Average Home Value $668,465
Housing Affordability Index3 135
 

HOUSEHOLDS

Total Households 4,614
Average Household Size 2.75
Family Households 3,486
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

 2010-2020 2020-2025
Population 0.47% 0.32%
Households 0.37% 0.22%
Families 0.4% 0.25%
Median Household Income   1.05%
Per Capita Income   1.53%
Owner Occupied HU   0.43%

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New Providence, NJ - Peer Comparisons by Rank and Percentile

The table below compares New Providence to the other 545 incorporated cities, towns and CDPs in New Jersey by rank and percentile using July 1, 2020 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 # 96 83rd
Population Density # 199 64th
Median Household Income # 43 92nd
Housing Affordability Index # 318 58th
Per Capita Income # 54 90th
Diversity Index # 255 53rd

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

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