Fanwood, NJ
Population 7,714 · New Jersey
About Fanwood, NJ
Fanwood is a small town located in New Jersey with a population of 7,714 residents according to the latest US Census Bureau American Community Survey data. The median household income is $176,667 per year, which is 135% above the national median of $75,149. The median age of 42.4 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 Fanwood features a median home value of $610,600, which is 149% above the national median of $244,900. This places Fanwood in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $2,368, 104% above the national average of $1,163/month. Of the 2,783 total housing units, 86% are owner-occupied (2,400 units) and 14% are renter-occupied (376 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Fanwood shows an unemployment rate of 2.8%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 1.4%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Fanwood have an average one-way commute time of 42.8 minutes, suggesting many residents commute to jobs in a nearby metro area.
Education & Demographics
71.2% of Fanwood 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 0.0% White, 1.3% Hispanic or Latino, 2.8% Black or African American, and 6.9% Asian residents, with 17.6% of the population being foreign-born.
Cost of Living in Fanwood, NJ
Compared to national averages, Fanwood has a median household income of $176,667 (135% above the national median of $75,149). Home values average $610,600, which is 149% above the national median. Monthly rent at $2,368 is 104% above the US average of $1,163. Within New Jersey, Fanwood's income is 53% above the state average of $115,667, and home values are 30% above the state median of $469,644.
Why Live in Fanwood, NJ?
Fanwood offers a strong local economy with a median household income of $176,667, well above the national average, and a strong job market with an unemployment rate of just 2.8%, and a well-educated community where 71.2% of residents hold a bachelor’s degree or higher. Additionally, the city features a low poverty rate of 1.4%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $610,600. However, Fanwood’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Fanwood has a population of 7,714 with a median age of 42.4 years. Compare Fanwood with other cities to see how it stacks up, or explore all cities in New Jersey.
Similar Cities Near Fanwood
Cities in New Jersey with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Dunellen | 7,711 | $84,789 | $380,200 | Compare |
| Brigantine | 7,702 | $88,906 | $485,000 | Compare |
| Bloomingdale | 7,686 | $126,221 | $398,000 | Compare |
| Mystic Island | 7,616 | $71,917 | $290,000 | Compare |
| Glen Ridge | 7,827 | $248,016 | $730,600 | Compare |
| Bernardsville | 7,871 | $231,006 | $737,600 | Compare |
| Basking Ridge | 7,882 | $200,378 | $841,700 | Compare |
| Berlin | 7,503 | $101,008 | $310,000 | 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 Fanwood With Other Cities
Frequently Asked Questions about Fanwood
What is the population of Fanwood, NJ?
The population of Fanwood, NJ is 7,714 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 Fanwood?
The median household income in Fanwood, NJ is $176,667 per year, which is 135% above the national median of $75,149.
What is the median home value in Fanwood?
The median home value in Fanwood, NJ is $610,600, which is 149% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Fanwood?
The median monthly rent in Fanwood, NJ is $2,368, which is 104% above the national average of $1,163/month.
What is the unemployment rate in Fanwood?
The unemployment rate in Fanwood, NJ is 2.8%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Fanwood, NJ a good place to live?
Fanwood offers above-average incomes, a competitive housing market, and a strong job market. With a population of 7,714 and a median age of 42.4, the city appeals to a broad range of residents.
How educated is Fanwood, NJ?
71.2% of residents in Fanwood 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 Fanwood?
Key cost-of-living indicators for Fanwood, NJ: median home value is $610,600 (149% above national), median rent is $2,368/month, and median household income is $176,667. The home-value-to-income ratio is 3.5x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Fanwood?
The poverty rate in Fanwood, NJ is 1.4%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Fanwood, NJ?
Fanwood's population is 0.0% White, 1.3% Hispanic or Latino, 2.8% Black or African American, 6.9% Asian, and 3.7% two or more races. 17.6% of residents are foreign-born.