Richwood, NJ
Population 3,453 · New Jersey
About Richwood, NJ
Richwood is a small town located in New Jersey with a population of 3,453 residents according to the latest US Census Bureau American Community Survey data. The median household income is $206,685 per year, which is 175% above the national median of $75,149. The median age of 39 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Richwood features a median home value of $566,000, which is 131% above the national median of $244,900. This places Richwood in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $0, 100% below the national average of $1,163/month. Of the 1,101 total housing units, 95% are owner-occupied (911 units) and 5% are renter-occupied (43 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Richwood shows an unemployment rate of 4.5%, which is near the national rate of 3.7%. The poverty rate stands at 4.2%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Richwood have an average one-way commute time of 25.5 minutes.
Education & Demographics
67.5% of Richwood 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 0.7% White, 1.9% Hispanic or Latino, 1.7% Black or African American, and 1.7% Asian residents, with 0.0% of the population being foreign-born.
How Richwood Ranks in New Jersey
Cost of Living in Richwood, NJ
Compared to national averages, Richwood has a median household income of $206,685 (175% above the national median of $75,149). Home values average $566,000, which is 131% above the national median. Monthly rent at $0 is 100% below the US average of $1,163. Within New Jersey, Richwood's income is 79% above the state average of $115,667, and home values are 21% above the state median of $469,644.
Why Live in Richwood, NJ?
Richwood offers a strong local economy with a median household income of $206,685, well above the national average, and rent that’s lower than the national average at $0/month, and a well-educated community where 67.5% of residents hold a bachelor’s degree or higher. Additionally, the city features a low poverty rate of 4.2%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $566,000. However, Richwood’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Richwood has a population of 3,453 with a median age of 39 years. Compare Richwood with other cities to see how it stacks up, or explore all cities in New Jersey.
Similar Cities Near Richwood
Cities in New Jersey with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Gibbstown | 3,494 | $90,371 | $228,800 | Compare |
| Barnegat | 3,367 | $105,091 | $398,900 | Compare |
| Netcong | 3,543 | $92,596 | $344,300 | Compare |
| Saddle River | 3,358 | $236,985 | $2,000,001 | Compare |
| Stanhope | 3,551 | $134,583 | $326,000 | Compare |
| North Cape May | 3,577 | $82,198 | $323,900 | Compare |
| High Bridge | 3,584 | $116,424 | $298,600 | Compare |
| Haworth | 3,321 | $227,841 | $815,300 | 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 Richwood With Other Cities
Frequently Asked Questions about Richwood
What is the population of Richwood, NJ?
The population of Richwood, NJ is 3,453 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 Richwood?
The median household income in Richwood, NJ is $206,685 per year, which is 175% above the national median of $75,149.
What is the median home value in Richwood?
The median home value in Richwood, NJ is $566,000, which is 131% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Richwood?
The median monthly rent in Richwood, NJ is $0, which is 100% below the national average of $1,163/month.
What is the unemployment rate in Richwood?
The unemployment rate in Richwood, NJ is 4.5%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Richwood, NJ a good place to live?
Richwood offers above-average incomes, a competitive housing market, and growing employment opportunities. With a population of 3,453 and a median age of 39, the city appeals to a broad range of residents.
How educated is Richwood, NJ?
67.5% of residents in Richwood 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 Richwood?
Key cost-of-living indicators for Richwood, NJ: median home value is $566,000 (131% above national), median rent is $0/month, and median household income is $206,685. The home-value-to-income ratio is 2.7x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Richwood?
The poverty rate in Richwood, NJ is 4.2%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Richwood, NJ?
Richwood's population is 0.7% White, 1.9% Hispanic or Latino, 1.7% Black or African American, 1.7% Asian, and 0.0% two or more races. 0.0% of residents are foreign-born.