Garwood, NJ
Population 4,688 · New Jersey
About Garwood, NJ
Garwood is a small town located in New Jersey with a population of 4,688 residents according to the latest US Census Bureau American Community Survey data. The median household income is $100,948 per year, which is 34% above the national median of $75,149. The median age of 42.7 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 Garwood features a median home value of $509,800, which is 108% above the national median of $244,900. This places Garwood in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $1,603, 38% above the national average of $1,163/month. Of the 2,093 total housing units, 55% are owner-occupied (1,125 units) and 45% are renter-occupied (929 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Garwood shows an unemployment rate of 6.0%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 9.2%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Garwood have an average one-way commute time of 29.6 minutes.
Education & Demographics
43.8% of Garwood 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 3.1% White, 0.1% Hispanic or Latino, 7.8% Black or African American, and 7.5% Asian residents, with 17.6% of the population being foreign-born.
Cost of Living in Garwood, NJ
Compared to national averages, Garwood has a median household income of $100,948 (34% above the national median of $75,149). Home values average $509,800, which is 108% above the national median. Monthly rent at $1,603 is 38% above the US average of $1,163. Within New Jersey, Garwood's income is 13% below the state average of $115,667, and home values are 9% above the state median of $469,644.
Why Live in Garwood, NJ?
Garwood offers a strong local economy with a median household income of $100,948, well above the national average, and a well-educated community where 43.8% of residents hold a bachelor’s degree or higher, and a low poverty rate of 9.2%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $509,800. However, Garwood’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Garwood has a population of 4,688 with a median age of 42.7 years. Compare Garwood with other cities to see how it stacks up, or explore all cities in New Jersey.
Similar Cities Near Garwood
Cities in New Jersey with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Country Lake Estates | 4,700 | $124,636 | $226,000 | Compare |
| Mount Ephraim | 4,648 | $95,137 | $223,800 | Compare |
| Cedar Knolls | 4,754 | $166,077 | $610,100 | Compare |
| Panther Valley | 4,622 | $128,484 | $359,800 | Compare |
| Blackwood | 4,615 | $81,154 | $231,000 | Compare |
| Neptune City | 4,607 | $82,872 | $383,600 | Compare |
| Northvale | 4,782 | $117,717 | $577,300 | Compare |
| Highlands | 4,575 | $90,082 | $394,800 | 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 Garwood With Other Cities
Frequently Asked Questions about Garwood
What is the population of Garwood, NJ?
The population of Garwood, NJ is 4,688 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 Garwood?
The median household income in Garwood, NJ is $100,948 per year, which is 34% above the national median of $75,149.
What is the median home value in Garwood?
The median home value in Garwood, NJ is $509,800, which is 108% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Garwood?
The median monthly rent in Garwood, NJ is $1,603, which is 38% above the national average of $1,163/month.
What is the unemployment rate in Garwood?
The unemployment rate in Garwood, NJ is 6.0%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Garwood, NJ a good place to live?
Garwood offers above-average incomes, a competitive housing market, and growing employment opportunities. With a population of 4,688 and a median age of 42.7, the city appeals to a broad range of residents.
How educated is Garwood, NJ?
43.8% of residents in Garwood 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 Garwood?
Key cost-of-living indicators for Garwood, NJ: median home value is $509,800 (108% above national), median rent is $1,603/month, and median household income is $100,948. The home-value-to-income ratio is 5.1x, a moderate figure by national standards.
What is the poverty rate in Garwood?
The poverty rate in Garwood, NJ is 9.2%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Garwood, NJ?
Garwood's population is 3.1% White, 0.1% Hispanic or Latino, 7.8% Black or African American, 7.5% Asian, and 0.0% two or more races. 17.6% of residents are foreign-born.