Basking Ridge, NJ
Population 7,882 · New Jersey
About Basking Ridge, NJ
Basking Ridge is a small town located in New Jersey with a population of 7,882 residents according to the latest US Census Bureau American Community Survey data. The median household income is $200,378 per year, which is 167% above the national median of $75,149. The median age of 46.6 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Basking Ridge features a median home value of $841,700, which is 244% above the national median of $244,900. This places Basking Ridge in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $565, 51% below the national average of $1,163/month. Of the 2,955 total housing units, 85% are owner-occupied (2,453 units) and 15% are renter-occupied (446 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Basking Ridge shows an unemployment rate of 6.4%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 3.6%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Basking Ridge have an average one-way commute time of 28.5 minutes.
Education & Demographics
73.6% of Basking Ridge residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This significantly higher educational attainment rate often correlates with access to knowledge-economy jobs and higher household incomes. The community's demographic composition includes 0.9% White, 1.2% Hispanic or Latino, 1.6% Black or African American, and 2.7% Asian residents, with 12.3% of the population being foreign-born.
How Basking Ridge Ranks in New Jersey
Cost of Living in Basking Ridge, NJ
Compared to national averages, Basking Ridge has a median household income of $200,378 (167% above the national median of $75,149). Home values average $841,700, which is 244% above the national median. Monthly rent at $565 is 51% below the US average of $1,163. Within New Jersey, Basking Ridge's income is 73% above the state average of $115,667, and home values are 79% above the state median of $469,644.
Why Live in Basking Ridge, NJ?
Basking Ridge offers a strong local economy with a median household income of $200,378, well above the national average, and rent that’s lower than the national average at $565/month, and a well-educated community where 73.6% of residents hold a bachelor’s degree or higher. Additionally, the city features a low poverty rate of 3.6%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $841,700. However, Basking Ridge’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Basking Ridge has a population of 7,882 with a median age of 46.6 years. Compare Basking Ridge with other cities to see how it stacks up, or explore all cities in New Jersey.
Similar Cities Near Basking Ridge
Cities in New Jersey with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Bernardsville | 7,871 | $231,006 | $737,600 | Compare |
| Glen Ridge | 7,827 | $248,016 | $730,600 | Compare |
| Watsessing | 7,944 | $94,301 | $418,500 | Compare |
| Carneys Point | 7,945 | $75,436 | $180,600 | Compare |
| Crestwood Village | 7,951 | $38,396 | $95,700 | Compare |
| Fort Dix | 8,034 | $98,259 | $0 | Compare |
| Atco | 8,037 | $101,976 | $262,200 | Compare |
| Fanwood | 7,714 | $176,667 | $610,600 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in New Jersey
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Basking Ridge With Other Cities
Frequently Asked Questions about Basking Ridge
What is the population of Basking Ridge, NJ?
The population of Basking Ridge, NJ is 7,882 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in New Jersey.
What is the median household income in Basking Ridge?
The median household income in Basking Ridge, NJ is $200,378 per year, which is 167% above the national median of $75,149.
What is the median home value in Basking Ridge?
The median home value in Basking Ridge, NJ is $841,700, which is 244% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Basking Ridge?
The median monthly rent in Basking Ridge, NJ is $565, which is 51% below the national average of $1,163/month.
What is the unemployment rate in Basking Ridge?
The unemployment rate in Basking Ridge, NJ is 6.4%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Basking Ridge, NJ a good place to live?
Basking Ridge offers above-average incomes, a competitive housing market, and growing employment opportunities. With a population of 7,882 and a median age of 46.6, the city appeals to established professionals and retirees.
How educated is Basking Ridge, NJ?
73.6% of residents in Basking Ridge aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Basking Ridge?
Key cost-of-living indicators for Basking Ridge, NJ: median home value is $841,700 (244% above national), median rent is $565/month, and median household income is $200,378. The home-value-to-income ratio is 4.2x, a moderate figure by national standards.
What is the poverty rate in Basking Ridge?
The poverty rate in Basking Ridge, NJ is 3.6%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Basking Ridge, NJ?
Basking Ridge's population is 0.9% White, 1.2% Hispanic or Latino, 1.6% Black or African American, 2.7% Asian, and 0.3% two or more races. 12.3% of residents are foreign-born.