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Zip Code 07940 - Population, Income & Demographics

Popular Secions:

πŸ’° Income         | πŸͺ™ Poverty

🚻 Age & Sex    | 🀝 Race

πŸ‘¨β€πŸ‘©β€πŸ‘§β€πŸ‘¦ Households  | πŸ—£οΈ Language  | πŸŽ“ Education

πŸ’Ό Employment | 🏭 Industry     | 🏠 Housing

🌍 State: NJ - New Jersey

🏑 City: Madison

πŸ—ΊοΈ County: Morris County

⏰ Timezone: America/New_York

☎️ Area Codes: 862, 973

Income

The median income of households in 07940 was $168,520. An estimated 2.5% of households had income below $10,000 a year and 41.7% had income of $200,000 or more.

Household Income in 07940 in 2019-2023

View Data Table ↓

Percent
Less than $10,000 2.5
$10,000 to $14,999 0.8
$15,000 to $24,999 1.8
$25,000 to $34,999 3.3
$35,000 to $49,999 5.2
$50,000 to $74,999 9.1
$75,000 to $99,999 6.3
$100,000 to $149,999 16.2
$150,000 to $199,999 13.1
$200,000 or more 41.7

Median Earnings for Full-Time Year-Round Workers by Sex in 07940 in 2019-2023

View Data Table ↓

Dollars
Male 139938
Female 95526

An estimated 82.4% of households received earnings. An estimated 23.1% of households received Social Security and an estimated 21.7 % of households received retirement income other than Social Security. The average income from Social Security was $29,338. These income sources are not mutually exclusive; that is, some households received income from more than one source.

Proportion of Households with Various Income Sources in 07940 in 2019-2023

View Data Table ↓

Percent
Earnings 82.4
Social Security 23.1
Retirement income 21.7
Supplemental Security Income (SSI) 2.2
Cash public assistance income 2

Poverty and Participation in Government Programs

In 2019-2023, 2.8 % of people were in poverty. An estimated 1.5% of children under 18 were below the poverty level, compared with 5.5% of people 65 years old and over. An estimated 2.8% of people 18 to 64 years were below the poverty level.

Poverty Rates in 07940 in 2019-2023

View Data Table ↓

Percent
People in poverty 2.8
Children under 18 years below poverty 1.5
People 65 years old and over below poverty 5.5
People 18 to 64 years below poverty 2.8

In 2019-2023, 2.4 % of households received SNAP (the Supplemental Nutrition Assistance Program). An estimated 3% of households that received SNAP had children under 18, and 81.2% of households that received SNAP had one or more people 60 years and over. An estimated 3% of all households receiving SNAP were families with a female householder and no spouse present.


Among the civilian noninstitutionalized population in 07940 in 2019-2023, 96.3% had health insurance coverage and 3.7% did not have health insurance coverage. Private coverage was 87.6% and public coverage was 16.6%, respectively. The percentage of children under the age of 19 with no health insurance coverage was 1.7%.


In 2019-2023, 07940 had a total population of 17,675 - 9,044 (51.2%) females and 8,631 (48.8%) males. The median age was 35.2 years. An estimated 21.4% of the population was under 18 years, 32.5% was 19 to 44 years, 26.4% was 45 to 64 years, and 12.5 % was 65 years and older.

Population by Age and Sex for 07940 in 2019-2023

Male Female
Under 5 427 448
5 to 9 709 469
10 to 14 491 588
15 to 19 933 992
20 to 24 1060 1091
25 to 29 352 288
30 to 34 450 505
35 to 39 447 341
40 to 44 466 735
45 to 49 717 326
50 to 54 584 714
55 to 59 583 811
60 to 64 432 504
65 to 69 356 324
70 to 74 198 265
75 to 79 190 287
80 to 84 99 170
85 and over 137 186

Hispanic Origin and Race

For people reporting one race alone, 77.2% were White; 2.5% were Black or African American; 0.2% were American Indian and Alaska Native; 0% were Asian; 0.7% were Native Hawaiian and Other Pacific Islander, and 0% were Some Other Race. An estimated 12.1% reported Two or More Races. An estimated 0.6% of the people in 07940 were Hispanic or Latino. An estimated 2.2% of the people in 07940 were White alone, non-Hispanic. People of Hispanic origin may be of any race.


Households and Families

In 2019-2023, there were 5,566 households in 07940. The average household size was 2.68 people.

Married-couple households made up 60.6% of the households in 07940 while cohabiting couple households made up 6.9% of households. Female householders with no spouse or partner present were 20.5% of all households, while 11.9% of households had male householders with no spouse or partner present. Some households had one person, as 9.5% of households were male householders living alone, and 14.5% were female householders living alone, for a total of 24% of all households.

In 07940, 35.2% of all households had one or more people under the age of 18; 28% of all households had one or more people 65 years and over.

Types of Households in 07940 in 2019-2023

View Data Table ↓

Percent
Married-couple households 60.6
Cohabiting Couples 6.9
Male Householder
No spouse/partner present
11.9
Female Householder
No spouse/partner present
20.5

Marital Status

Among persons 15 and older, 51.5% of males and 46.4% of females were currently married.

Population 15 years and over Percent
Males
Percent
Females
Never married 43 36.6
Now married, except separated 51.5 46.4
Separated 0.6 0.6
Widowed 0.9 6.6
Divorced 4 9.8

Grandparents and Grandchildren

In 07940, 141 grandparents lived with their grandchildren under 18 years old. Of those grandparents, 0% were responsible for the basic needs of their grandchildren.


Nativity and Foreign-Born

In 2019-2023, an estimated 85.3% of the people living in 07940 were U.S. natives. 50% of the 07940 population were living in the state where they were born.

Approximately 14.7% of 07940 residents in 2019-2023 were foreign-born. 57.5% of foreign-born were naturalized U.S. citizens and an estimated 60.9 % entered the country before the year 2010.

Foreign-born residents of 07940 come from different parts of the world. The bar graph below displays the percentage of foreign-born from each world region of birth in 2019-2023 for 07940.

Region of Birth for the Foreign-Born Population in 07940 in 2019-2023

View Data Table ↓

Percent
Latin America 48.4
Asia 23.5
Europe 17.5
Africa 3.1
Northern America 5
Oceania 2.5

Language

Among people at least five years old living in 07940 in 2019-2023, 18.1 % spoke a language other than English at home. Spanish was spoken by 10.2% of people at least five years old; 6.8% reported that they did not speak English "very well."

Percentage of the Population 5 years and over who Speak a Language other than English in 07940 in 2019-2023

View Data Table ↓

Percent
Spanish 10.2
Other Indo-European languages 4.4
Asian and Pacific Islander languages 2.9
Other languages 0.7

Geographic Mobility

In 2019-2023, 90.4 % of the people at least one year old living in 07940 were living in the same house one year earlier.

Geographic Mobility of Residents of 07940 in 2019-2023

View Data Table ↓

Percent
Same house 90.4
Different house, same county 4.6
Different county, same state 2.2
Different state 2.6
Abroad 0.2

Education

In 2019-2023, 96.7 % of people 25 years and over had at least graduated from high school and 70.7% had a bachelor's degree or higher. An estimated 3.3% did not complete high school.

The total school enrollment in 07940 was 6,260 in 2019-2023. Nursery school enrollment was 312 and kindergarten through 12th grade enrollment was 2,815. College or graduate school enrollment was 3,133.

Educational Attainment of People in 07940 in 2019-2023

View Data Table ↓

Percent
Less than high school diploma 3.3
High school diploma or equivalency 14.6
Some college, no degree 7.5
Associate's degree 3.9
Bachelor's degree 39.9
Graduate or professional degree 30.8

Disability

In 07940, among the civilian noninstitutionalized population in 2019-2023, 7.2 % reported a disability. The likelihood of having a disability varied by age - from 2.3% of people under 18 years old, to 6.6% of people 18 to 64 years old, and to 19.3% of those 65 and over.


Employment Status and Type of Employer

In 07940, 63.1 % of the population 16 and over were employed; 32.3% were not currently in the labor force.

An estimated 84.3% of the people employed were private wage and salary workers; 10.7% were federal, state, or local government workers; and 5 % were self-employed in their own (not incorporated) business.

Class of worker Number Percent
Private wage and salary workers 7,594 84.3
Federal, state, or local government workers 966 10.7
Self-employed workers in own not incorporated business 453 5

Industries

In 2019-2023, the civilian employed population 16 years and older in 07940 worked in the following industries:

Percent by Industry in 07940 in 2019-2023

View Data Table ↓

Percent
Agriculture, forestry, fishing and hunting, and mining 0
Construction 3.4
Manufacturing 8.2
Wholesale trade 1.7
Retail trade 9.3
Transportation and warehousing, and utilities 3
Information 3.4
Finance and insurance, and real estate and rental and leasing 15.9
Professional, scientific, and management, and administrative and waste management services 15.6
Educational services, and health care and social assistance 22.9
Arts, entertainment, and recreation, and accommodation, and food services 9.2
Other Services, except public administration 3.6
Public administration 3.9

Occupations

Occupations for the Civilian Employed Population 16 Years and over in 07940 in 2019-2023

Civilian employed population 16 years and over Number Percent
Management, business, sciences, and arts occupations 5,410 60
Service occupations 952 10.6
Sales and office occupations 1,735 19.2
Natural resources, construction, and maintenance occupations 234 2.6
Production, transportation, and material moving occupations 682 7.6

Commuting to Work

An estimated 52.2% of 07940 workers drove to work alone in 2019-2023, and 3.8% carpooled. Among those who commuted to work, it took them on average 26.3 minutes to get to work.

Percent of Workers 16 and over Commuting by Mode in 07940 in 2019-2023

View Data Table ↓

Percent
Car, truck, van -- drove alone 52.2
Car, truck, van -- carpooled 3.8
Public transportation (excluding taxicab) 7.7
Walked 9.5
Other means 2.1
Worked from home 24.7

In 2019-2023, 07940 had a total of 5,733 housing units. Of these housing units, 69.7% were single-family houses either not attached to any other structure or attached to one or more structures (commonly referred to as "townhouses" or "row houses"). 30.3% of the housing units were located in multi-unit structures, or those buildings that contained two or more apartments. 0% were mobile homes, while any remaining housing units were classified as "other," which included boats, recreational vehicles, vans, etc.

Types of Housing Units in 07940 in 2019-2023

View Data Table ↓

Percent
Single-family houses 69.7
Apartments in multi-unit structures 30.3
Mobile homes 0
Boat, RV, van, etc 0

10.1% of the housing inventory was comprised of houses built since 2010, while 24% of the houses were first built in 1939 or earlier. The median number of rooms in all housing units in 07940 was 7 rooms, and of these housing units 66% had three or more bedrooms.


In 2019-2023, 07940 had 5,566 housing units that were occupied or had people living in them, while the remaining 167 were vacant. Of the occupied housing units, the percentage of these houses occupied by owners (also known as the homeownership rate) was 64.2% while renters occupied 35.8%. The average household size of owner-occupied houses was 2.99 and in renter-occupied houses it was 2.12.

11.8% of householders of these occupied houses had moved into their house since 2021, while 12.6% moved into their house in 1989 or earlier. Households without a vehicle available for personal use comprised 5.6% and another 14.5% had three or more vehicles available for use.

The following chart provides the primary fuel used to heat houses in 07940:

House Heating Fuel Used in 07940 in 2019-2023

View Data Table ↓

Percent
Gas † 88.5
Electricity 8.4
Fuel oil, kerosene, etc 2.5
All other fuels 0.1
No fuel used 0.4

In 2019-2023, the median property value for owner-occupied houses in 07940 was $883,200.

Of the owner-occupied households, 66 % had a mortgage. 34% owned their houses "free and clear," that is without a primary mortgage or loan on the house. The median monthly housing costs for owners with a mortgage was $4,000+ and for owners without a mortgage it was $1,500+.

For renter-occupied houses, the median gross rent for 07940 was $2,248. Gross rent includes the monthly contract rent and any monthly payments made for electricity, gas, water and sewer, and any other fuels to heat the house.