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The total population of Fanwood is estimated to be 7,723 with 3,660 males (47.39%) and 4,063 females (52.61%). There are 403 more females than males in Fanwood.
The median household income in Fanwood was $192,738 in 2021, which marked an a decrease of 1,055(0.54%) from $193,793 in 2020. This income is 258.34% of the U.S. median household income of $74,606 (all incomes in 2022 inflation-adjusted dollars).
Per the latest American Community Survey by the Census Bureau, Fanwood sees its highest median household income among householders in the age group of 25 to 44 years old, at $247,669. Overall, the median household income for the borough of Fanwood stands at $192,738.
In Fanwood, the median income for all workers aged 15 years and older, regardless of work hours, was $97,762 for males and $63,853 for females. However, when specifically considering full-time, year-round workers within the same age group, the median income was $150,782 for males and $100,098 for females.
In Fanwood, there are just three different racial groups among households. Among these, Asian households report a median household income of $215,247, followed by White households at $193,578, and Two or More Races households with a median household income of $189,310.
In 2022, the population of Fanwood was 7,655, a 0.79% decrease year-by-year from 2021. Previously, in 2021, Fanwood's population was 7,716, a decline of 0.39% compared to a population of 7,746 in 2020.
The median age in Fanwood, NJ is 42.5, as per 2021 ACS 5-Year Estimates. Of the total population, 19.36% were under the age of 15, 15.36% aged 15 to 29, 50.60% aged 30 to 64, 11.95% aged 65 to 84, and 2.73% were 85 years of age and older.
Racial distribution of Fanwood population: 78.39% are White, 4.81% are Black or African American, 6.60% are Asian, 0.53% are some other race and 9.67% are multiracial.