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Summit, NJ Profile: Facts & Data

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Summit, New Jersey - Basic Facts

The City of Summit had a population of 22,178 as of July 1, 2024.

The primary coordinate point for Summit is located at latitude 40.7415 and longitude -74.3596 in Union County. The formal boundaries for the City of Summit encompass a land area of 6 sq. miles and a water area of 0.05 sq. miles. Union County is in the Eastern time zone (GMT -5).

The City of Summit 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.

The City of Summit is located within Township of Millburn, a minor civil division (MCD) of Union County.


Jump to... (On This Page!)
  1. Summit 2024 Demographic Data
  2. Growth Rates for Summit (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 - 2024 Demographics
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Summit, NJ Data & Demographics (As of July 1, 2024)

POPULATION

Total Population 22,178 (100%)
Population in Households 22,098 (99.6%)
Population in Families 19,146 (86.3%)
Population in Group Quarters1 80 ( 0.4%)
Population Density 3,700
Diversity Index2 66
 
 

INCOME

Median Household Income $200,001
Average Household Income $265,358
% of Income for Mortgage4 30%
Per Capita Income $92,914
Wealth Index5 247
Socioeconomic Status Index6 Moderate (61.3)
 

HOUSING

Total HU (Housing Units) 8,219 (100%)
Owner Occupied HU 5,512 (67.1%)
Renter Occupied HU 2,253 (27.4%)
Vacant Housing Units 454 ( 5.5%)
Median Home Value $970,622
Average Home Value $1,158,813
Housing Affordability Index3 68
 

HOUSEHOLDS

Total Households 7,765
Average Household Size 2.85
Family Households 5,709
Average Family Size 3.00
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.
  6. 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.

GROWTH RATE / YEAR

 2020-2024 2024-2029
Population -0.57% -0.21%
Households -0.42% -0.30%
Families   -0.32%
Median Household Income   0.00%
Per Capita Income   1.94%
Owner Occupied HU   0.44%

Summit, NJ - Peer Comparisons by Rank and Percentile

The table below compares Summit 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.

Variable Description Rank Percentile
Total Population # 52 93rd
Population Density # 209 70th
Median Household Income # 38 99th
Housing Affordability Index # 200 29th
Per Capita Income # 45 94th
Diversity Index # 213 69th

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

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