Menlo Park Terrace, NJ
Population 2,952 · New Jersey
About Menlo Park Terrace, NJ
Menlo Park Terrace is a small town located in New Jersey with a population of 2,952 residents according to the latest US Census Bureau American Community Survey data. The median household income is $111,111 per year, which is 48% above the national median of $75,149. The median age of 40.1 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Menlo Park Terrace features a median home value of $379,100, which is 55% above the national median of $244,900. This places Menlo Park Terrace in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $1,879, 62% above the national average of $1,163/month. Of the 931 total housing units, 90% are owner-occupied (809 units) and 10% are renter-occupied (91 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Menlo Park Terrace shows an unemployment rate of 6.9%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 6.0%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Menlo Park Terrace have an average one-way commute time of 29.8 minutes.
Education & Demographics
37.8% of Menlo Park Terrace 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 1.0% White, 0.7% Hispanic or Latino, 4.7% Black or African American, and 18.6% Asian residents, with 43.1% of the population being foreign-born.
Cost of Living in Menlo Park Terrace, NJ
Compared to national averages, Menlo Park Terrace has a median household income of $111,111 (48% above the national median of $75,149). Home values average $379,100, which is 55% above the national median. Monthly rent at $1,879 is 62% above the US average of $1,163. Within New Jersey, Menlo Park Terrace's income is 4% below the state average of $115,667, and home values are 19% below the state median of $469,644.
Why Live in Menlo Park Terrace, NJ?
Menlo Park Terrace offers a strong local economy with a median household income of $111,111, well above the national average, and a well-educated community where 37.8% of residents hold a bachelor’s degree or higher, and a low poverty rate of 6.0%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $379,100. However, Menlo Park Terrace’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Menlo Park Terrace has a population of 2,952 with a median age of 40.1 years. Compare Menlo Park Terrace with other cities to see how it stacks up, or explore all cities in New Jersey.
Similar Cities Near Menlo Park Terrace
Cities in New Jersey with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Whitesboro | 2,946 | $94,145 | $242,100 | Compare |
| Hopelawn | 2,986 | $83,977 | $349,500 | Compare |
| Ocean Grove | 2,916 | $74,410 | $764,200 | Compare |
| Pines Lake | 2,989 | $177,750 | $612,800 | Compare |
| Millington | 3,002 | $202,604 | $746,800 | Compare |
| Woodlynne | 2,899 | $71,635 | $129,900 | Compare |
| Groveville | 3,007 | $108,362 | $347,900 | Compare |
| Shark River Hills | 3,035 | $133,193 | $482,800 | 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 Menlo Park Terrace With Other Cities
Frequently Asked Questions about Menlo Park Terrace
What is the population of Menlo Park Terrace, NJ?
The population of Menlo Park Terrace, NJ is 2,952 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 Menlo Park Terrace?
The median household income in Menlo Park Terrace, NJ is $111,111 per year, which is 48% above the national median of $75,149.
What is the median home value in Menlo Park Terrace?
The median home value in Menlo Park Terrace, NJ is $379,100, which is 55% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Menlo Park Terrace?
The median monthly rent in Menlo Park Terrace, NJ is $1,879, which is 62% above the national average of $1,163/month.
What is the unemployment rate in Menlo Park Terrace?
The unemployment rate in Menlo Park Terrace, NJ is 6.9%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Menlo Park Terrace, NJ a good place to live?
Menlo Park Terrace offers above-average incomes, a competitive housing market, and growing employment opportunities. With a population of 2,952 and a median age of 40.1, the city appeals to a broad range of residents.
How educated is Menlo Park Terrace, NJ?
37.8% of residents in Menlo Park Terrace 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 Menlo Park Terrace?
Key cost-of-living indicators for Menlo Park Terrace, NJ: median home value is $379,100 (55% above national), median rent is $1,879/month, and median household income is $111,111. The home-value-to-income ratio is 3.4x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Menlo Park Terrace?
The poverty rate in Menlo Park Terrace, NJ is 6.0%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Menlo Park Terrace, NJ?
Menlo Park Terrace's population is 1.0% White, 0.7% Hispanic or Latino, 4.7% Black or African American, 18.6% Asian, and 8.3% two or more races. 43.1% of residents are foreign-born.