New Jersey's affluent suburbs are making waves, with five towns recently named among the 50 wealthiest suburbs in the United States. This ranking, according to a report by MoneyLion, highlights the unique appeal of these communities, where access to public transit and a limited housing supply contribute to their high desirability. The report, sourced from the U.S. Census Bureau's 2025 American Community Survey, showcases the economic prowess of these towns, with an emphasis on their strong connection to major metro areas.
One of the key factors in these towns' success is their access to public transit. Westfield, Summit, Tenafly, Princeton, and Ridgewood all boast NJ Transit train stations that connect to New York City or, in the case of Princeton, Philadelphia. This accessibility not only boosts property values but also enhances the overall quality of life for residents, making these towns highly sought-after.
Westfield, for instance, ranked 30th in the study with an impressive average household income of $306,889 in 2024 and an average home value of $1.3 million in April 2026. Similarly, Summit, ranked 32nd, boasts an average household income of $306,473 and an average home value of $1.5 million. These figures underscore the financial stability and prosperity of these towns.
Tenafly, ranked 33rd, offers a slightly different dynamic. While it lacks a downtown train station, it provides express bus service to Manhattan, ensuring its residents can still enjoy the benefits of public transit. The average household income in Tenafly is $306,119, and the average home value is $1.3 million, reflecting its desirability and economic strength.
Princeton, home to the prestigious Ivy League school, ranked 47th. Despite lacking a direct train station downtown, the town's connection to the Northeast Corridor Line through the 'Dinky' service ensures its residents' mobility. The average household income in Princeton is $275,137, and the average home value is just over $1 million, showcasing its unique blend of academic excellence and economic prosperity.
Finally, Ridgewood, ranked 48th, offers a similar blend of accessibility and desirability. With a train station serving the Main Line and Bergen County Line, Ridgewood provides easy access to New York City. The average household income is $273,185, and the average home value is $1.2 million, reflecting its strong economic position.
These findings highlight the importance of public transit in shaping the economic landscape of New Jersey's suburbs. The report by MoneyLion underscores the value of limited housing supply and the desirability of towns with strong connections to major metro areas. As these towns continue to thrive, they serve as a model for other communities seeking to enhance their economic and social prospects through strategic planning and infrastructure development.
