Morris Households Among Richest in Nation
Five New Jersey counties boast some of the highest concentrations of wealth in U.S., NJ Spotlight reports.
Morris County is among five New Jersey counties with some of the highest concentrations of wealth in the nation, according to US. Census Bureau data reported by NJ Spotlight.
Morris joins Somerset, Bergen, Hunterdon and Monmouth counties in boasting large percentages of households with an annual income of $200,000 or more.
In 2011, 14.5 percent of Morris County households made more than $200,000, with a median household income of $91,332. However, median household income has been dropping since 2008, when it approached $100,000.
While all New Jersey counties have higher-than-average concentrations of wealth, the latest census data shows that many have not fully recovered from the effects of the recession, which technically stretched from December 2007 through June 2009. The inflation-adjusted median household income in 11 counties was lower in 2011 than at the start of the recession five years earlier, NJ Spotlight reports.
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