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| Edison Metropolitan Area |
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| Middlesex, Monmouth, Ocean and Somerset Counties Tables of selected demographics ›› This area of northern-central New Jersey’s population was estimated at 2.3 million as of 2005, based on the American Community Survey. Population grew by 6% between 2000 and 2005; population growth has been particularly brisk in Ocean and Somerset counties. Most of this area can be best characterized as suburban in nature, though the cities of New Brunswick, Perth Amboy, Long Branch, and Asbury Park give it some urban character.The area's population has a relatively high level of educational attainment—based on the 2005 American Community Survey, 37% of adults over the age of 25 hold college degrees, compared with 27% nationally. The proportion is particularly high in Somerset County (see table below). Similarly, median household income is roughly 50% above the nationwide figure. Somerset County's key industries include telecommunications, computer systems design, and pharmaceuticals. Middlesex County also has a high concentration of computer services firms, and it is also a major regional hub for wholesale trade and distribution, based on its access to interstate highways and proximity to the ports, Newark Airport, and New York City. More generally, both counties are home to a number of large corporate headquarters, largely in the key industries mentioned above. Monmouth and Ocean counties contain a good portion of the New Jersey seashore; thus, leisure & hospitality accounts for a relatively large share of economic activity and employment. During the 1990s, the area consistently registered above-average job growth, owing largely to its high concentration of high-tech industries. In addition, its location at the edge of the New York City metro area enabled it to benefit from the outward expansion of economic activity. In 2001 and 2002, area saw relatively modest job losses, though the ensuing recovery was also sluggish; in 2006 job growth picked up and once again surpassed the statewide average, but the pace of job creation has slowed again in 2007. As of 2005, median home values ranged from $280,000 in Ocean County to $433,000 in Hunterdon County; Monmouth and Somerset were not far behind, with median values of $422,000 and $400,000 respectively, while Middlesex’s median value was estimated at $332,000. These compare with a nationwide median of $167,500. As in most of the New York metropolitan region, house prices had appreciated at a double-digit rate during the first half of the decade but have leveled off or slipped in 2006 and the first half of 2007. |
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