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Fanwood borough, NJ
ZIP 07023 — Economy & Jobs
Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.
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Income, employment, industries, and economic trends
Income & Economy in Fanwood borough, NJ (07023)
Median Income
$176,667
*Adjusted for inflation (2023 dollars)
IRS Net Migration
+497
Wealth inflow
Population
7,714
Unemployment
2.8%
0.9pp below US avg
IRS migration statistics show a net inflow of about 497 for ZIP 07023 (Fanwood borough, NJ) on US5’s published series — a signal of people/tax filers moving in relative to those leaving. Inflows often track job growth, housing demand, or lifestyle migration; treat the figure as a directional indicator rather than a precise headcount.
Historical Trends in 07023 (2020–Present)
Since 2020, population grew 0.4%, median income fell 12.3% (inflation-adjusted), home values increased 4.6%.
Economy & Jobs key statistics
| Income & Jobs | |
|---|---|
| Median household income | $176,667 |
| Unemployment | 2.8% |
| Establishments | 181 |
| Employees | 2,664 |