Oakland, NJ
Population 12,700 · New Jersey
About Oakland, NJ
Oakland is a mid-sized city located in New Jersey with a population of 12,700 residents according to the latest US Census Bureau American Community Survey data. The median household income is $162,862 per year, which is 117% above the national median of $75,149. The median age of 41.9 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Oakland features a median home value of $567,200, which is 132% above the national median of $244,900. This places Oakland in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $1,462, 26% above the national average of $1,163/month. Of the 4,687 total housing units, 92% are owner-occupied (4,033 units) and 8% are renter-occupied (362 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Oakland shows an unemployment rate of 4.9%, which is near the national rate of 3.7%. The poverty rate stands at 3.2%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Oakland have an average one-way commute time of 30.2 minutes.
Education & Demographics
54.4% of Oakland 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 1.5% White, 1.1% Hispanic or Latino, 1.3% Black or African American, and 7.2% Asian residents, with 14.4% of the population being foreign-born.
Cost of Living in Oakland, NJ
Compared to national averages, Oakland has a median household income of $162,862 (117% above the national median of $75,149). Home values average $567,200, which is 132% above the national median. Monthly rent at $1,462 is 26% above the US average of $1,163. Within New Jersey, Oakland's income is 41% above the state average of $115,667, and home values are 21% above the state median of $469,644.
Why Live in Oakland, NJ?
Oakland offers a strong local economy with a median household income of $162,862, well above the national average, and a well-educated community where 54.4% of residents hold a bachelor’s degree or higher, and a low poverty rate of 3.2%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $567,200. However, Oakland’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Oakland has a population of 12,700 with a median age of 41.9 years. Compare Oakland with other cities to see how it stacks up, or explore all cities in New Jersey.
Similar Cities Near Oakland
Cities in New Jersey with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Red Bank | 12,864 | $101,738 | $477,000 | Compare |
| Freehold | 12,504 | $82,183 | $401,900 | Compare |
| Holiday City-Berkeley | 12,896 | $47,855 | $237,200 | Compare |
| Haddonfield | 12,502 | $190,882 | $708,800 | Compare |
| Somerville | 12,958 | $103,869 | $403,600 | Compare |
| Fords | 13,052 | $116,250 | $414,100 | Compare |
| Upper Montclair | 12,279 | $250,001 | $968,200 | Compare |
| Florham Park | 13,134 | $147,714 | $722,700 | 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 Oakland With Other Cities
Frequently Asked Questions about Oakland
What is the population of Oakland, NJ?
The population of Oakland, NJ is 12,700 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 Oakland?
The median household income in Oakland, NJ is $162,862 per year, which is 117% above the national median of $75,149.
What is the median home value in Oakland?
The median home value in Oakland, NJ is $567,200, which is 132% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Oakland?
The median monthly rent in Oakland, NJ is $1,462, which is 26% above the national average of $1,163/month.
What is the unemployment rate in Oakland?
The unemployment rate in Oakland, NJ is 4.9%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Oakland, NJ a good place to live?
Oakland offers above-average incomes, a competitive housing market, and growing employment opportunities. With a population of 12,700 and a median age of 41.9, the city appeals to a broad range of residents.
How educated is Oakland, NJ?
54.4% of residents in Oakland 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 Oakland?
Key cost-of-living indicators for Oakland, NJ: median home value is $567,200 (132% above national), median rent is $1,462/month, and median household income is $162,862. The home-value-to-income ratio is 3.5x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Oakland?
The poverty rate in Oakland, NJ is 3.2%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Oakland, NJ?
Oakland's population is 1.5% White, 1.1% Hispanic or Latino, 1.3% Black or African American, 7.2% Asian, and 1.3% two or more races. 14.4% of residents are foreign-born.