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The total population of Garwood is estimated to be 4,542 with 2,467 males (54.32%) and 2,075 females (45.68%). There are 392 less females than males in Garwood.
The median household income in Garwood was $100,504 in 2021, which marked an a decrease of 2,308(2.24%) from $102,812 in 2020. This income is 134.71% 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, Garwood sees its highest median household income among householders in the age group of 25 to 44 years old, at $133,673. Overall, the median household income for the borough of Garwood stands at $100,504.
In Garwood, the median income for all workers aged 15 years and older, regardless of work hours, was $66,456 for males and $42,670 for females. However, when specifically considering full-time, year-round workers within the same age group, the median income was $77,048 for males and $74,023 for females.
In Garwood, there are just three different racial groups among households. Among these, Some Other Race households report a median household income of $216,434, followed by Asian households at $170,845, and White households with a median household income of $93,874.
In 2022, the population of Garwood was 5,008, a 13.71% increase year-by-year from 2021. Previously, in 2021, Garwood's population was 4,404, a decline of 0.59% compared to a population of 4,430 in 2020.
The median age in Garwood, NJ is 41.4, as per 2021 ACS 5-Year Estimates. Of the total population, 12.59% were under the age of 15, 18.31% aged 15 to 29, 49.27% aged 30 to 64, 16.52% aged 65 to 84, and 3.32% were 85 years of age and older.
Racial distribution of Garwood population: 79.57% are White, 3.19% are Asian, 10.89% are some other race and 6.35% are multiracial.