Paramus, NJ
Population 26,500 · New Jersey
About Paramus, NJ
Paramus is a mid-sized city located in New Jersey with a population of 26,500 residents according to the latest US Census Bureau American Community Survey data. The median household income is $139,707 per year, which is 86% above the national median of $75,149. The median age of 49.1 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 Paramus features a median home value of $736,000, which is 201% above the national median of $244,900. This places Paramus in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $2,845, 145% above the national average of $1,163/month. Of the 8,898 total housing units, 82% are owner-occupied (6,877 units) and 18% are renter-occupied (1,543 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Paramus shows an unemployment rate of 8.0%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 5.5%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Paramus have an average one-way commute time of 30.6 minutes.
Education & Demographics
50.2% of Paramus 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 0.8% White, 0.6% Hispanic or Latino, 3.0% Black or African American, and 8.8% Asian residents, with 29.0% of the population being foreign-born.
How Paramus Ranks in New Jersey
Cost of Living in Paramus, NJ
Compared to national averages, Paramus has a median household income of $139,707 (86% above the national median of $75,149). Home values average $736,000, which is 201% above the national median. Monthly rent at $2,845 is 145% above the US average of $1,163. Within New Jersey, Paramus's income is 21% above the state average of $115,667, and home values are 57% above the state median of $469,644.
Why Live in Paramus, NJ?
Paramus offers a strong local economy with a median household income of $139,707, well above the national average, and a well-educated community where 50.2% of residents hold a bachelor’s degree or higher, and a low poverty rate of 5.5%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $736,000. However, Paramus’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Paramus has a population of 26,500 with a median age of 49.1 years. Compare Paramus with other cities to see how it stacks up, or explore all cities in New Jersey.
Similar Cities Near Paramus
Cities in New Jersey with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Bridgeton | 26,836 | $46,124 | $134,400 | Compare |
| Ridgewood | 26,076 | $217,250 | $882,700 | Compare |
| Lodi | 25,946 | $84,570 | $449,200 | Compare |
| Cliffside Park | 25,580 | $94,960 | $577,200 | Compare |
| Millville | 27,432 | $67,190 | $199,300 | Compare |
| Carteret | 25,187 | $87,553 | $370,200 | Compare |
| Old Bridge | 28,015 | $106,934 | $457,800 | Compare |
| Bergenfield | 28,269 | $124,083 | $469,200 | 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 Paramus With Other Cities
Frequently Asked Questions about Paramus
What is the population of Paramus, NJ?
The population of Paramus, NJ is 26,500 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 Paramus?
The median household income in Paramus, NJ is $139,707 per year, which is 86% above the national median of $75,149.
What is the median home value in Paramus?
The median home value in Paramus, NJ is $736,000, which is 201% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Paramus?
The median monthly rent in Paramus, NJ is $2,845, which is 145% above the national average of $1,163/month.
What is the unemployment rate in Paramus?
The unemployment rate in Paramus, NJ is 8.0%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Paramus, NJ a good place to live?
Paramus offers above-average incomes, a competitive housing market, and growing employment opportunities. With a population of 26,500 and a median age of 49.1, the city appeals to established professionals and retirees.
How educated is Paramus, NJ?
50.2% of residents in Paramus 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 Paramus?
Key cost-of-living indicators for Paramus, NJ: median home value is $736,000 (201% above national), median rent is $2,845/month, and median household income is $139,707. The home-value-to-income ratio is 5.3x, a moderate figure by national standards.
What is the poverty rate in Paramus?
The poverty rate in Paramus, NJ is 5.5%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Paramus, NJ?
Paramus's population is 0.8% White, 0.6% Hispanic or Latino, 3.0% Black or African American, 8.8% Asian, and 3.9% two or more races. 29.0% of residents are foreign-born.