- Elemental Group is a full service management company headquartered in Red Bank, New Jersey. We specialize in the accounting and management of real estate assets. We provide cost effective, profes... View full profile
125 Half Mile Road, Suite 200
Red Bank, NJ 07701
Housing Comparison with State and Nation
| Edison | New Jersey | U.S. |
| Median Home Value | $376,100 | $365,400 | $192,400 |
|---|
| Owner Costs > 30% Income | 17.6% | 17% | 14.7% |
|---|
| Gross Rent > 30% Income | 20% | 20.2% | 19.2% |
Edison Housing Market Stats
As of 2008, the rental vacancy rate in Edison stood at 6%, relatively low compared to the rest of the country. There are about 936,699 housing units, averaging $376,100 in value, 25% of which are occupied by renters. The rent to price ratio in Edison is 0.3%, slightly higher than the New Jersey average. For 20% of Edison tenants, 30% or more of their income goes to paying rent.
Community Comparison with State and Nation
| Edison | New Jersey | U.S. |
| Avg Commute Time (minutes) | 31.8 | 29.5 | 25.3 |
|---|
| Median Age | 39.1 | 38.3 | 36.7 |
|---|
| Avg Household Size - Owners | 2.78 | 2.82 | 2.7 |
|---|
| Avg Household Size - Renters | 2.46 | 2.4 | 2.42 |
|---|
| Median Household Income | $76,183 | $68,241 | $52,175 |
|---|
| Per Capita Income | $36,576 | $34,415 | $27,466 |
Edison Demographic Info
Edison has a population of 2,311,859, comprised of 838,778 households, with on average 3 members per household. Out of approximately 1,198,884 people in the civilian workforce, 1,133,984 (95%) were employed in 2008. 90% of the population 25 and older has earned a high school diploma, with 36% holding a 4 year college degree.
Edison Community Info
Edison Township is located in Middlesex County in New Jersey. Based on the 2000 Census Report Edison is the fifth largest city in New Jersey, but that position changes with Woodbridge Township quite regularly. Edison was originally incorporated as Raritan Township in 1870; it wasn't until 1954 that the name of the township was officially changed to Edison.
In 2006, Money Magazine ranked Edison as the second best city to live in for the state of New Jersey, but it also ranked Edison as the 28th most livable small city in the United States. In 2008, Money Magazine ranked Edison 35 out of the top 100 places to live in the United States. In the survey of America's safest cities in 2006, Edison ranked 23rd out of a total of 371 cities nationwide. US News and World Report ranked Edison as one of “America's 10 Best Places to Grow Up” in 2009 because of the low amount of crime, the strong schools, how many recreational activities were available, and the amount of green spaces throughout the city.
In a state generally lacking diversity, Edison stands out as being the most ethnically diverse township in the state. In fact, Edison is actually known throughout the state and the New York metro area as being one of the best places in the area for Asian American cultural diversity. Based on the 2000 Census report there were 97,687 people living in Edison Township. Out of those 97,687 people 55.8% were White, 6.9% were African American, 9% were Chinese, 17.3% were Indian, 2.4% were Pacific Islander and 2% were from other races. Something interesting to note is that Edison has the highest percentage of Indian Americans than any other city in the United States where more than 1,000 residents were identifying their ancestry.
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