Palisades Park, NJ
Population 20,192 · New Jersey
About Palisades Park, NJ
Palisades Park is a mid-sized city located in New Jersey with a population of 20,192 residents according to the latest US Census Bureau American Community Survey data. The median household income is $101,295 per year, which is 35% above the national median of $75,149. The median age of 43.2 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 Palisades Park features a median home value of $704,400, which is 188% above the national median of $244,900. This places Palisades Park in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $1,976, 70% above the national average of $1,163/month. Of the 7,612 total housing units, 37% are owner-occupied (2,740 units) and 63% are renter-occupied (4,635 units). The higher proportion of renters may reflect a transient population, younger demographics, or high housing costs relative to income.
Economy & Employment
The local economy in Palisades Park shows an unemployment rate of 5.4%, which is near the national rate of 3.7%. The poverty rate stands at 10.0%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Palisades Park have an average one-way commute time of 32.1 minutes.
Education & Demographics
53.7% of Palisades Park 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, 0.1% Hispanic or Latino, 2.9% Black or African American, and 20.3% Asian residents, with 60.1% of the population being foreign-born.
Cost of Living in Palisades Park, NJ
Compared to national averages, Palisades Park has a median household income of $101,295 (35% above the national median of $75,149). Home values average $704,400, which is 188% above the national median. Monthly rent at $1,976 is 70% above the US average of $1,163. Within New Jersey, Palisades Park's income is 12% below the state average of $115,667, and home values are 50% above the state median of $469,644.
Why Live in Palisades Park, NJ?
Palisades Park offers a strong local economy with a median household income of $101,295, well above the national average, and a well-educated community where 53.7% of residents hold a bachelor’s degree or higher, 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 $704,400. However, Palisades Park’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Palisades Park has a population of 20,192 with a median age of 43.2 years. Compare Palisades Park with other cities to see how it stacks up, or explore all cities in New Jersey.
Similar Cities Near Palisades Park
Cities in New Jersey with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Morristown | 20,256 | $115,409 | $552,800 | Compare |
| Woodbridge | 20,086 | $99,718 | $361,200 | Compare |
| Pleasantville | 20,604 | $52,403 | $177,700 | Compare |
| Harrison | 19,599 | $82,290 | $450,800 | Compare |
| Hawthorne | 19,472 | $118,093 | $499,200 | Compare |
| Tinton Falls | 19,252 | $113,844 | $458,300 | Compare |
| Point Pleasant | 19,158 | $108,713 | $523,400 | Compare |
| Iselin | 19,151 | $112,615 | $394,200 | 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 Palisades Park With Other Cities
Frequently Asked Questions about Palisades Park
What is the population of Palisades Park, NJ?
The population of Palisades Park, NJ is 20,192 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 Palisades Park?
The median household income in Palisades Park, NJ is $101,295 per year, which is 35% above the national median of $75,149.
What is the median home value in Palisades Park?
The median home value in Palisades Park, NJ is $704,400, which is 188% above the national median of $244,900. A significant portion of residents rent their homes.
What is the average rent in Palisades Park?
The median monthly rent in Palisades Park, NJ is $1,976, which is 70% above the national average of $1,163/month.
What is the unemployment rate in Palisades Park?
The unemployment rate in Palisades Park, NJ is 5.4%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Palisades Park, NJ a good place to live?
Palisades Park offers above-average incomes, a competitive housing market, and growing employment opportunities. With a population of 20,192 and a median age of 43.2, the city appeals to a broad range of residents.
How educated is Palisades Park, NJ?
53.7% of residents in Palisades Park 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 Palisades Park?
Key cost-of-living indicators for Palisades Park, NJ: median home value is $704,400 (188% above national), median rent is $1,976/month, and median household income is $101,295. The home-value-to-income ratio is 7.0x, which suggests housing may be stretched relative to local earnings.
What is the poverty rate in Palisades Park?
The poverty rate in Palisades Park, 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 Palisades Park, NJ?
Palisades Park's population is 0.0% White, 0.1% Hispanic or Latino, 2.9% Black or African American, 20.3% Asian, and 2.6% two or more races. 60.1% of residents are foreign-born.