What is the wealthiest school district in NJ?
Millburn School District is the wealthiest school district in New Jersey.
New Jersey's Wealthiest School Districts by Median Income
Based on an analysis from 2017, the Millburn School District stands out as the wealthiest in New Jersey, boasting a median household income of $184,783. The financial prosperity of a school district is primarily determined by the median household income of its residents. Communities with higher median incomes often benefit from a stronger local tax base, which can lead to increased funding and enhanced educational resources for their schools.
Below is a list of some of New Jersey's top wealthiest school districts, ranked by their median household income as of 2017:
| School District | Median Household Income (2017) |
|---|---|
| Millburn | $184,783 |
| Harding | $171,331 |
| Glen Ridge | $170,433 |
| Mountain Lakes | $164,432 |
| Ho-Ho-Kus | $162,386 |
| Glen Rock | $155,221 |
| Montgomery Township | $154,309 |
| Ridgewood | $147,823 |
Factors Influencing District Wealth
Several key factors contribute to the overall wealth and financial stability of a school district:
- High Property Values: Areas with high-value residential and commercial properties generate more substantial property tax revenues, which are a fundamental source of funding for public schools.
- Affluent Resident Base: Communities attracting residents with higher median incomes directly contribute to the local tax base through property taxes and often support local businesses.
- Strong Economic Activity: A robust local economy, including a significant commercial or industrial presence, can provide diverse tax revenues beyond residential properties, bolstering district finances.
- Demographic Composition: A stable population of employed, high-earning residents within the district ensures a consistent and growing tax base.
Understanding these dynamics provides insight into why certain districts can offer more extensive programs, facilities, and resources to their students.
For further details on school district wealth in New Jersey, you can explore comprehensive analyses:
