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The total population of Summit is estimated to be 22,555 with 10,768 males (47.74%) and 11,787 females (52.26%). There are 1,019 more females than males in Summit.
The median household income in Summit was $163,764 in 2021, which marked an an increase of 1,900(1.17%) from $161,864 in 2020. This income is 219.51% 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, Summit sees its highest median household income among householders in the age group of 25 to 44 years old, at $200,574. Overall, the median household income for the city of Summit stands at $163,764.
In Summit, the median income for all workers aged 15 years and older, regardless of work hours, was $89,092 for males and $52,978 for females. However, when specifically considering full-time, year-round workers within the same age group, the median income was $188,674 for males and $105,229 for females.
In Summit, the demographic landscape is diverse, spanning 5 distinct racial categories among households. Among these, Asian households have the highest median household income at $240,503, while Some Other Race households represent the opposite end with the lowest median household income of $78,873.
In 2022, the population of Summit was 22,342, a 1.01% decrease year-by-year from 2021. Previously, in 2021, Summit's population was 22,570, a decline of 0.30% compared to a population of 22,638 in 2020.
The median age in Summit, NJ is 39.7, as per 2021 ACS 5-Year Estimates. Of the total population, 22.24% were under the age of 15, 15.97% aged 15 to 29, 49.23% aged 30 to 64, 10.32% aged 65 to 84, and 2.24% were 85 years of age and older.
Racial distribution of Summit population: 70.49% are White, 7% are Black or African American, 0.10% are American Indian and Alaska Native, 9.21% are Asian, 0.15% are Native Hawaiian and other Pacific Islander, 7.25% are some other race and 5.79% are multiracial.