John Bendall owner of Re/Max Classic Group offers good news for Somerset and Hunterdon residents.

While the current Real Estate and Mortgage market may have much of the country worried about finances there is good news here in Somerset and Hunterdon, New Jersey.

According to U.S. Census Bureau data released Tuesday “In 2006, Hunterdon County was the highest-earning geographic area of its population size in the nation and the county with the highest median income in New Jersey at $93,297.  Somerset County was fifth-highest-earning among counties its size in the nation, and its median income ranked second in the state at $91,688.”

The state of New Jersey is one of the wealthiest states in the country; we have the second highest median household income. While the news is good, the statistics provided in the Census don’t necessarily paint a complete picture.  The cost of living and the high cost of housing in our state are not taken into consideration.  So while we may have higher incomes than much of the country it doesn’t equal a lot of extra discretionary income. 

Some of the statistics from the Census in the Courier News today are as follows; 

-  Of Hunterdon County’s 45,428 households, 21,093 earned more than $100,000 in 2006, and 6,824 earned more than $200,000.

-  Of Somerset County’s 114,164 households, 51,617 earned more than $100,000, and 15,562 earned more than $200,000.

-  Of Middlesex County’s 270,292 households, 88,489 earned more than $100,000, and 13,293 earned more than $200,000.

-  Of Union County’s 185,201 households, 52,494 earned more than $100,000, and 14,087 earned more than $200,000.

-  In Middlesex County, 54,870 people still are below the poverty line out of a total population of 759,229; in Union County, 40,491 people are below the line out of a total of 522,528.

-  In Hunterdon County, 4,416 people are considered below the poverty line, out of a total population of 127,251, and in Somerset, 14,137 people are below the line, out of a total population of 321,826.

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