Essex County, NJ
FIPS: 34013
Median HAM
13.5x
High
Jul 2023
Minimum HAM
25.0x
Very High
Jan 2026
HAM Burden
104%
Very High
Dec 2025
Not enough historical data to show a trend chart for this county.
Economic Profile
BEA GDP data (2024)
GDP Per Capita
$88,199
National avg: ~$82,000
Total GDP
$76.2B
Thousands of current $
Population
863,728
2020 Census
Top Industries by GDP
Real estate and rental and leasing14.1%
Government and government enterprises13.6%
Transportation and warehousing12.7%
Professional, scientific, and technical services9.7%
Finance and insurance9.6%
Data Breakdown
Median HAM
Data as of Jul 2023
Median Home Price
$494,400
Census ACS
Gross Median Income
$46,237
Census ACS
Net Median Income
$36,592
Calculated
Median HAM
13.51x
Minimum HAM
Data as of Jan 2026
Median Home Price
$651,876
Redfin
Min Wage (Hourly)
$15.49/hr
State labor data
Net Min Wage Income
$26,100
Calculated
Minimum HAM
24.98x
HAM Burden
Data as of Dec 2025
Monthly Rent
$2,270
Zillow ZORI
Min Wage (Hourly)
$15.49/hr
State labor data
Monthly Net Min Wage
$2,175
Calculated
HAM Burden
104.4%
Methodology: HAM = Home Price / Net Annual Income. Net income assumes single filer, standard deduction, 2,080 hrs/yr for minimum wage. Federal + state tax + FICA deducted. Home price source priority: Zillow ZHVI > Redfin > Census ACS.