Towaco, NJ
Population 5,627 · New Jersey
About Towaco, NJ
Towaco is a small town located in New Jersey with a population of 5,627 residents according to the latest US Census Bureau American Community Survey data. The median household income is $197,696 per year, which is 163% above the national median of $75,149. The median age of 46.4 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 Towaco features a median home value of $690,900, which is 182% above the national median of $244,900. This places Towaco in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $2,726, 134% above the national average of $1,163/month. Of the 2,052 total housing units, 95% are owner-occupied (1,921 units) and 5% are renter-occupied (103 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Towaco shows an unemployment rate of 2.9%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 1.6%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Towaco have an average one-way commute time of 33.5 minutes.
Education & Demographics
73.0% of Towaco 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, 0.2% Hispanic or Latino, 2.3% Black or African American, and 3.9% Asian residents, with 20.0% of the population being foreign-born.
Cost of Living in Towaco, NJ
Compared to national averages, Towaco has a median household income of $197,696 (163% above the national median of $75,149). Home values average $690,900, which is 182% above the national median. Monthly rent at $2,726 is 134% above the US average of $1,163. Within New Jersey, Towaco's income is 71% above the state average of $115,667, and home values are 47% above the state median of $469,644.
Why Live in Towaco, NJ?
Towaco offers a strong local economy with a median household income of $197,696, well above the national average, and a strong job market with an unemployment rate of just 2.9%, and a well-educated community where 73.0% of residents hold a bachelor’s degree or higher. Additionally, the city features a low poverty rate of 1.6%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $690,900. However, Towaco’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Towaco has a population of 5,627 with a median age of 46.4 years. Compare Towaco with other cities to see how it stacks up, or explore all cities in New Jersey.
Similar Cities Near Towaco
Cities in New Jersey with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Norwood | 5,668 | $164,766 | $676,400 | Compare |
| Morganville | 5,544 | $134,911 | $575,900 | Compare |
| Somerdale | 5,535 | $79,101 | $221,600 | Compare |
| Union Beach | 5,722 | $128,400 | $452,900 | Compare |
| Rutgers University-Busch Campus | 5,747 | $118,750 | $0 | Compare |
| Jamesburg | 5,763 | $117,719 | $344,900 | Compare |
| Franklin Center | 5,770 | $138,643 | $565,200 | Compare |
| Lyons | 5,444 | $243,958 | $936,000 | 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 Towaco With Other Cities
Frequently Asked Questions about Towaco
What is the population of Towaco, NJ?
The population of Towaco, NJ is 5,627 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 Towaco?
The median household income in Towaco, NJ is $197,696 per year, which is 163% above the national median of $75,149.
What is the median home value in Towaco?
The median home value in Towaco, NJ is $690,900, which is 182% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Towaco?
The median monthly rent in Towaco, NJ is $2,726, which is 134% above the national average of $1,163/month.
What is the unemployment rate in Towaco?
The unemployment rate in Towaco, NJ is 2.9%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Towaco, NJ a good place to live?
Towaco offers above-average incomes, a competitive housing market, and a strong job market. With a population of 5,627 and a median age of 46.4, the city appeals to established professionals and retirees.
How educated is Towaco, NJ?
73.0% of residents in Towaco 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 Towaco?
Key cost-of-living indicators for Towaco, NJ: median home value is $690,900 (182% above national), median rent is $2,726/month, and median household income is $197,696. The home-value-to-income ratio is 3.5x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Towaco?
The poverty rate in Towaco, NJ is 1.6%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Towaco, NJ?
Towaco's population is 0.0% White, 0.2% Hispanic or Latino, 2.3% Black or African American, 3.9% Asian, and 1.8% two or more races. 20.0% of residents are foreign-born.