Wharton, NJ
Population 7,254 · New Jersey
About Wharton, NJ
Wharton is a small town located in New Jersey with a population of 7,254 residents according to the latest US Census Bureau American Community Survey data. The median household income is $92,548 per year, which is 23% above the national median of $75,149. The median age of 39.4 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Wharton features a median home value of $348,100, which is 42% above the national median of $244,900. This positions Wharton in a moderately priced market relative to the rest of the country. Median monthly rent is $1,886, 62% above the national average of $1,163/month. Of the 2,923 total housing units, 54% are owner-occupied (1,565 units) and 46% are renter-occupied (1,358 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Wharton shows an unemployment rate of 3.3%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 18.8%, above the national average of 12.4%. Workers in Wharton have an average one-way commute time of 30.6 minutes.
Education & Demographics
29.3% of Wharton residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 2.0% White, 1.2% Hispanic or Latino, 8.3% Black or African American, and 40.8% Asian residents, with 27.1% of the population being foreign-born.
Cost of Living in Wharton, NJ
Compared to national averages, Wharton has a median household income of $92,548 (23% above the national median of $75,149). Home values average $348,100, which is 42% above the national median. Monthly rent at $1,886 is 62% above the US average of $1,163. Within New Jersey, Wharton's income is 20% below the state average of $115,667, and home values are 26% below the state median of $469,644.
Why Live in Wharton, NJ?
Wharton offers a strong local economy with a median household income of $92,548, well above the national average, and a strong job market with an unemployment rate of just 3.3%.
Wharton has a population of 7,254 with a median age of 39.4 years. Compare Wharton with other cities to see how it stacks up, or explore all cities in New Jersey.
Similar Cities Near Wharton
Cities in New Jersey with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Emerson | 7,263 | $153,963 | $626,000 | Compare |
| Rumson | 7,265 | $250,001 | $1,609,400 | Compare |
| Yorketown | 7,265 | $163,375 | $575,700 | Compare |
| Washington | 7,287 | $79,280 | $260,200 | Compare |
| Keyport | 7,159 | $79,036 | $374,800 | Compare |
| Palmyra | 7,447 | $85,014 | $216,600 | Compare |
| Barrington | 7,047 | $84,334 | $244,400 | Compare |
| Haddon Heights | 7,488 | $126,055 | $354,700 | 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 Wharton With Other Cities
Frequently Asked Questions about Wharton
What is the population of Wharton, NJ?
The population of Wharton, NJ is 7,254 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 Wharton?
The median household income in Wharton, NJ is $92,548 per year, which is 23% above the national median of $75,149.
What is the median home value in Wharton?
The median home value in Wharton, NJ is $348,100, which is 42% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Wharton?
The median monthly rent in Wharton, NJ is $1,886, which is 62% above the national average of $1,163/month.
What is the unemployment rate in Wharton?
The unemployment rate in Wharton, NJ is 3.3%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Wharton, NJ a good place to live?
Wharton offers above-average incomes, a competitive housing market, and a strong job market. With a population of 7,254 and a median age of 39.4, the city appeals to a broad range of residents.
How educated is Wharton, NJ?
29.3% of residents in Wharton aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Wharton?
Key cost-of-living indicators for Wharton, NJ: median home value is $348,100 (42% above national), median rent is $1,886/month, and median household income is $92,548. The home-value-to-income ratio is 3.8x, a moderate figure by national standards.
What is the poverty rate in Wharton?
The poverty rate in Wharton, NJ is 18.8%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Wharton, NJ?
Wharton's population is 2.0% White, 1.2% Hispanic or Latino, 8.3% Black or African American, 40.8% Asian, and 0.0% two or more races. 27.1% of residents are foreign-born.