Preakness, NJ
Population 18,538 · New Jersey
About Preakness, NJ
Preakness is a mid-sized city located in New Jersey with a population of 18,538 residents according to the latest US Census Bureau American Community Survey data. The median household income is $133,168 per year, which is 77% above the national median of $75,149. The median age of 41.1 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Preakness features a median home value of $603,200, which is 146% above the national median of $244,900. This places Preakness in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $1,946, 67% above the national average of $1,163/month. Of the 6,906 total housing units, 70% are owner-occupied (4,713 units) and 30% are renter-occupied (2,019 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Preakness shows an unemployment rate of 4.6%, which is near the national rate of 3.7%. The poverty rate stands at 3.7%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Preakness have an average one-way commute time of 31.1 minutes.
Education & Demographics
58.4% of Preakness 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, 0.3% Hispanic or Latino, 2.2% Black or African American, and 9.4% Asian residents, with 22.0% of the population being foreign-born.
Cost of Living in Preakness, NJ
Compared to national averages, Preakness has a median household income of $133,168 (77% above the national median of $75,149). Home values average $603,200, which is 146% above the national median. Monthly rent at $1,946 is 67% above the US average of $1,163. Within New Jersey, Preakness's income is 15% above the state average of $115,667, and home values are 28% above the state median of $469,644.
Why Live in Preakness, NJ?
Preakness offers a strong local economy with a median household income of $133,168, well above the national average, and a well-educated community where 58.4% of residents hold a bachelor’s degree or higher, and a low poverty rate of 3.7%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $603,200. However, Preakness’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Preakness has a population of 18,538 with a median age of 41.1 years. Compare Preakness with other cities to see how it stacks up, or explore all cities in New Jersey.
Similar Cities Near Preakness
Cities in New Jersey with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Dover | 18,420 | $70,519 | $347,100 | Compare |
| Ocean Acres | 18,689 | $117,739 | $359,200 | Compare |
| Rutherford | 18,748 | $136,069 | $580,800 | Compare |
| Colonia | 18,294 | $134,301 | $473,200 | Compare |
| Dumont | 18,072 | $125,585 | $469,900 | Compare |
| Iselin | 19,151 | $112,615 | $394,200 | Compare |
| Point Pleasant | 19,158 | $108,713 | $523,400 | Compare |
| Tinton Falls | 19,252 | $113,844 | $458,300 | 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 Preakness With Other Cities
Frequently Asked Questions about Preakness
What is the population of Preakness, NJ?
The population of Preakness, NJ is 18,538 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 Preakness?
The median household income in Preakness, NJ is $133,168 per year, which is 77% above the national median of $75,149.
What is the median home value in Preakness?
The median home value in Preakness, NJ is $603,200, which is 146% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Preakness?
The median monthly rent in Preakness, NJ is $1,946, which is 67% above the national average of $1,163/month.
What is the unemployment rate in Preakness?
The unemployment rate in Preakness, NJ is 4.6%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Preakness, NJ a good place to live?
Preakness offers above-average incomes, a competitive housing market, and growing employment opportunities. With a population of 18,538 and a median age of 41.1, the city appeals to a broad range of residents.
How educated is Preakness, NJ?
58.4% of residents in Preakness 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 Preakness?
Key cost-of-living indicators for Preakness, NJ: median home value is $603,200 (146% above national), median rent is $1,946/month, and median household income is $133,168. The home-value-to-income ratio is 4.5x, a moderate figure by national standards.
What is the poverty rate in Preakness?
The poverty rate in Preakness, NJ is 3.7%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Preakness, NJ?
Preakness's population is 0.0% White, 0.3% Hispanic or Latino, 2.2% Black or African American, 9.4% Asian, and 2.6% two or more races. 22.0% of residents are foreign-born.