Carteret, NJ
Population 25,187 · New Jersey
About Carteret, NJ
Carteret is a mid-sized city located in New Jersey with a population of 25,187 residents according to the latest US Census Bureau American Community Survey data. The median household income is $87,553 per year, which is 17% above the national median of $75,149. The median age of 39.3 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Carteret features a median home value of $370,200, which is 51% above the national median of $244,900. This places Carteret in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $2,012, 73% above the national average of $1,163/month. Of the 8,702 total housing units, 55% are owner-occupied (4,592 units) and 45% are renter-occupied (3,725 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Carteret shows an unemployment rate of 8.8%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 10.0%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Carteret have an average one-way commute time of 32.2 minutes.
Education & Demographics
27.7% of Carteret residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 0.9% White, 1.3% Hispanic or Latino, 13.3% Black or African American, and 18.5% Asian residents, with 34.7% of the population being foreign-born.
How Carteret Ranks in New Jersey
Cost of Living in Carteret, NJ
Compared to national averages, Carteret has a median household income of $87,553 (17% above the national median of $75,149). Home values average $370,200, which is 51% above the national median. Monthly rent at $2,012 is 73% above the US average of $1,163. Within New Jersey, Carteret's income is 24% below the state average of $115,667, and home values are 21% below the state median of $469,644.
Why Live in Carteret, NJ?
Carteret offers a strong local economy with a median household income of $87,553, well above the national average, and a low poverty rate of 10.0%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $370,200. However, Carteret’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Carteret has a population of 25,187 with a median age of 39.3 years. Compare Carteret with other cities to see how it stacks up, or explore all cities in New Jersey.
Similar Cities Near Carteret
Cities in New Jersey with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Cliffside Park | 25,580 | $94,960 | $577,200 | Compare |
| Lodi | 25,946 | $84,570 | $449,200 | Compare |
| Ridgewood | 26,076 | $217,250 | $882,700 | Compare |
| South Plainfield | 24,231 | $126,063 | $443,900 | Compare |
| Paramus | 26,500 | $139,707 | $736,000 | Compare |
| Somerset | 23,851 | $113,603 | $408,600 | Compare |
| Bridgeton | 26,836 | $46,124 | $134,400 | Compare |
| Glassboro | 23,375 | $80,388 | $276,900 | 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 Carteret With Other Cities
Frequently Asked Questions about Carteret
What is the population of Carteret, NJ?
The population of Carteret, NJ is 25,187 according to the latest US Census Bureau American Community Survey estimates. This makes it a mid-sized city in New Jersey.
What is the median household income in Carteret?
The median household income in Carteret, NJ is $87,553 per year, which is 17% above the national median of $75,149.
What is the median home value in Carteret?
The median home value in Carteret, NJ is $370,200, which is 51% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Carteret?
The median monthly rent in Carteret, NJ is $2,012, which is 73% above the national average of $1,163/month.
What is the unemployment rate in Carteret?
The unemployment rate in Carteret, NJ is 8.8%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Carteret, NJ a good place to live?
Carteret offers above-average incomes, a competitive housing market, and growing employment opportunities. With a population of 25,187 and a median age of 39.3, the city appeals to a broad range of residents.
How educated is Carteret, NJ?
27.7% of residents in Carteret aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Carteret?
Key cost-of-living indicators for Carteret, NJ: median home value is $370,200 (51% above national), median rent is $2,012/month, and median household income is $87,553. The home-value-to-income ratio is 4.2x, a moderate figure by national standards.
What is the poverty rate in Carteret?
The poverty rate in Carteret, NJ is 10.0%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Carteret, NJ?
Carteret's population is 0.9% White, 1.3% Hispanic or Latino, 13.3% Black or African American, 18.5% Asian, and 16.6% two or more races. 34.7% of residents are foreign-born.