Best Places to Start a Business in New Jersey

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Best Places to Start a Business in New Jersey

New Jersey recently unveiled a $50 million fund geared at helping entrepreneurs get started. That’s just one aspect of New Jersey that makes it a good place to start a business.

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The state has a vibrant small-business scene, highlighted by the investment from a group that includes Amazon.com. The accelerator fund will be based in Newark, at the headquarters of successful audiobook company Audible.

But business success also can be found in smaller cities and towns as NerdWallet discovered when looking for the best places to start a business in New Jersey.

Our findings weren’t a surprise for Jeffrey Robinson, a professor at Rutgers Business School in New Jersey, who says many small cities in the state have made a concerted push at revitalization.

“For the places that are not considered major urban centers, the strategy for business growth is to repopulate the Main Street areas,” said Robinson, who is also academic director of the school’s Center of Urban Entrepreneurship and Economic Development.

And the strategy in New Jersey has paid off.

Entrepreneurs looking to start a small business in New Jersey will find resources in NerdWallet’s Small Business Guide. For financing, take a look at NerdWallet’s comparison of small-business loans for a variety of needs.

Key takeaways

Small cities lead the way. Eight of the 10 top cities on our list have a population under 25,000. The No. 1 place on the list, East Hanover, has less than 12,000 residents, which shows that small places in New Jersey have much to offer when it comes to starting and growing a business.

Solid revenue is a key to success. Solid sales are a key driver of business success in the places on our list. For example, 10 of the top 20 cities and towns were also among the places with the highest average annual revenue per business.

NerdWallet’s analysis

NerdWallet crunched the data for 231 places in New Jersey each with a population of 10,000 or more.

Our analysis is based on data from the U.S. Census Bureau’s Survey of Business Owners that weighed factors such as average annual revenue per business and the number of businesses with paid employees. We also used data from the American Community Survey, which includes information on income, housing costs and unemployment rate. 

Best places to start a business in New Jersey

1. East Hanover

With just 11,200 residents, East Hanover is one of the smaller communities in New Jersey. But the Morris County township is at No. 1 on our list of best places to start a business in the state. East Hanover has 1,500 businesses and is perhaps best known as the home of snacks and cookies manufacturing giant Nabisco. Businesses here recorded an average of nearly $9 million in annual revenue per business.

2. Red Bank

The Red Bank borough website features a quote from New Jersey Monthly Magazine: “Battered for years by stiff competition from malls and megastore shopping centers that have sprung up like dandelions, Red Bank hoped to use (its plan for a Special Improvement District) to foster a cleaner, more vital downtown with better recognition.” Now, Red Bank is home to dozens of restaurants, coffeehouses and the Count Basie Theatre, which the borough says, “attracts national and regional acts — everything from rock bands to dance companies.” Red Bank recorded an impressive $6.75 million in average annual revenue per business, the second best in the top 10.

3. Hanover

The township of Hanover in Morris County is known for the Whippany Railway Museum, which opened in 1965 along with the Morris County Central Railroad, and offers “a nostalgic trip into railroading’s colorful past.” Hanover has a population of nearly 14,000, and recorded $4.86 million in average annual revenue per business.

4. Secaucus

The town of Secaucus in Hudson County is famous in New Jersey for its retail shops. The official New Jersey tourism site calls this community of about 17,000 residents an outlet and retail shopping mecca. Secaucus posted $5.54 million in average annual revenue per business, which is the third highest in the top 10.

5. Eatontown

Eatontown, which has a population of 12,500, is a Monmouth County borough with about 1,600 businesses that record $3.2 million in average annual revenue per business. It is a place that takes recreation and the health and fitness of its residents seriously. The town also encourages visitors get “Be Historically Fit” on a two-mile walk of the borough that combines exercise and education.

6. Paramus

With a population of about 26,000, Paramus is the second-biggest community among the top 10 places. Paramus has transformed from its past of “celery farms and dirt roads” in the 1600s, to a “land of enormous malls and shopping centers that has made it one of the top retail ZIP codes in the U.S.,” according to the borough’s website. It is also known as the venue for The Barclays FedEx Cup, a major golf tournament. Businesses in the Bergen County borough posted nearly $3 million in total average annual revenue.

7. Florham Park

Florham Park, with a population of nearly 12,000, is the Morris County borough that’s known as the home of the New York Jets. Florham Park has about 1,800 businesses and recorded an average of $3.1 million in annual revenue per business.

8. Morristown

Morristown is full of historic sites and was designated by the National Trust for Historic Preservation as one of its Dozen Distinctive Destinations, according to the town website. Morristown has a population of roughly 18,400 and is home to about 2,750 businesses. Businesses here posted an average of about $1.7 million in annual revenue per business.

9. Moorestown

The township of Moorestown, which has a population of about 21,000, exemplifies the role downtown development has played in making many New Jersey towns and cities great places to start a business. “Our Downtown Main Street” is highlighted on the Moorestown website, which calls it a step back to an earlier era but “current enough to ensure that the goods, services and restaurants provided are competitive to businesses outside of Moorestown.” Businesses see nearly $3.8 million in average annual revenue per business.

10. Hackensack

Hackensack won a brief mention in the 1978 movie “Superman” when it was identified as one of the targets of Lex Luthor’s sinister plot. Hackensack has a population of nearly 43,500, making the Bergen County city the largest among the top 10 places. Businesses in the city recorded $2 million in average annual revenue per business.

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Best places to start a business in New Jersey

Scroll through the table below to see the data for all 231 places in New Jersey.

Rank City County Population Number of businesses Average annual revenue per business Businesses with paid employees Businesses per 100 people Unemployment rate Score
1 East Hanover Morris 11,236 1,501 $8,987,060 44.70% 13.36 6.6% 72.45
2 Red Bank Monmouth 12,207 1,808 $6,745,253 54.54% 14.81 9.5% 70.54
3 Hanover Morris 13,886 1,620 $4,857,393 41.23% 11.67 4.0% 61.73
4 Secaucus Hudson 17,106 2,374 $5,538,767 33.36% 13.88 4.2% 61.18
5 Eatontown Monmouth 12,449 1,641 $3,208,729 45.89% 13.18 6.5% 60.77
6 Paramus Bergen 26,454 4,380 $2,860,858 37.26% 16.56 4.0% 60.51
7 Florham Park Morris 11,753 1,775 $3,074,220 37.63% 15.10 4.1% 60.17
8 Morristown Morris 18,432 2,749 $1,659,055 42.89% 14.91 3.7% 59.68
9 Moorestown Burlington 20,709 2,351 $3,781,502 39.64% 11.35 5.0% 57.66
10 Hackensack Bergen 43,466 5,601 $2,046,091 43.42% 12.89 4.8% 56.63
11 Warren Somerset 15,574 2,402 $4,155,770 26.35% 15.42 4.2% 56.26
12 Plainsboro Middlesex 23,063 2,001 $6,557,328 28.99% 8.68 4.7% 55.80
13 Parsippany-Troy Hills Morris 53,483 5,977 $5,373,273 32.64% 11.18 6.0% 55.65
14 Millburn Essex 20,128 3,397 $1,229,266 29.38% 16.88 4.0% 54.56
15 West Caldwell Essex 10,795 1,259 $2,610,463 38.13% 11.66 4.2% 53.72
16 Fort Lee Bergen 35,617 6,135 $1,064,630 28.26% 17.22 4.4% 53.17
17 West Windsor Mercer 27,711 3,044 $3,003,576 33.80% 10.98 4.9% 52.76
18 Summit Union 21,657 3,142 $1,286,184 31.89% 14.51 4.7% 52.05
19 Mount Laurel Burlington 41,848 4,158 $4,370,585 30.71% 9.94 5.5% 51.69
20 Somerville Somerset 12,165 1,342 $1,435,789 41.88% 11.03 5.9% 51.51
21 Wall Monmouth 26,106 3,965 $1,559,490 28.70% 15.19 5.1% 51.06
22 South Plainfield Middlesex 23,543 2,784 $2,176,198 40.37% 11.83 7.0% 51.05
23 Totowa Passaic 10,833 1,960 $1,825,512 27.09% 18.09 6.7% 50.62
24 Bridgewater Somerset 44,717 4,749 $4,140,946 29.27% 10.62 5.3% 50.56
25 Ramsey Bergen 14,570 1,864 $2,501,581 30.15% 12.79 4.2% 50.49
26 Wayne Passaic 54,849 6,549 $2,621,852 34.42% 11.94 5.7% 50.42
27 Madison Morris 16,021 1,281 $2,769,756 35.99% 8.00 4.8% 50.16
28 Montville Morris 21,663 3,507 $1,084,810 26.72% 16.19 3.9% 50.12
29 Metuchen Middlesex 13,640 2,087 $655,047 29.32% 15.30 4.8% 49.76
30 Mahwah Bergen 26,042 2,841 $5,047,644 24.57% 10.91 5.5% 49.70
31 Springfield Union 16,249 2,032 $1,609,786 33.02% 12.51 4.9% 49.63
32 Saddle Brook Bergen 13,741 1,518 $3,757,930 27.27% 11.05 5.0% 49.20
33 Branchburg Somerset 14,526 1,677 $3,005,992 28.32% 11.54 4.3% 49.10
34 Haddonfield Camden 11,558 2,014 $285,817 25.37% 17.43 4.0% 49.03
35 Englewood Bergen 27,308 3,759 $1,194,826 31.21% 13.77 4.5% 48.82
36 Ocean City Cape May 11,640 1,814 $280,047 27.45% 15.58 4.7% 48.80
37 Berkeley Heights Union 13,246 1,575 $2,349,981 29.27% 11.89 4.3% 48.26
38 Cranford Union 22,846 2,343 $1,787,590 33.46% 10.26 4.5% 48.24
39 Lyndhurst Bergen 20,841 1,693 $2,416,745 38.57% 8.12 6.0% 47.83
40 Middlesex Middlesex 13,703 1,410 $810,564 41.70% 10.29 6.2% 47.65
41 Ridgefield Bergen 11,112 1,660 $806,568 33.61% 14.94 7.1% 47.45
42 Edison Middlesex 100,513 9,278 $2,235,409 35.69% 9.23 6.1% 47.42
43 Montgomery Somerset 22,329 2,432 $2,742,469 27.47% 10.89 3.9% 47.41
44 Livingston Essex 29,420 3,988 $1,135,536 30.72% 13.56 4.6% 47.39
45 Woodbury Gloucester 10,147 1,029 $1,161,522 38.78% 10.14 7.2% 47.03
46 Bordentown Burlington 11,356 891 $2,747,789 29.07% 7.85 3.1% 46.96
47 Little Falls Passaic 14,431 1,237 $1,026,591 40.74% 8.57 5.6% 46.86
48 Denville Morris 16,751 2,205 $838,238 32.74% 13.16 5.3% 46.79
49 Somers Point Atlantic 10,807 1,074 $874,929 40.41% 9.94 6.9% 46.77
50 Franklin Lakes Bergen 10,655 1,509 $2,120,335 23.86% 14.16 4.3% 46.73
51 Freehold Monmouth 12,051 918 $583,850 47.82% 7.62 5.5% 46.60
52 West Deptford Gloucester 21,605 1,278 $5,158,649 33.72% 5.92 8.1% 46.46
53 East Brunswick Middlesex 47,736 5,451 $1,102,817 33.22% 11.42 6.0% 46.12
54 Middle Cape May 18,864 2,032 $678,855 38.83% 10.77 6.9% 46.10
55 Cinnaminson Burlington 16,041 1,685 $871,919 34.96% 10.50 5.3% 45.84
56 South Brunswick Middlesex 43,877 4,357 $2,311,189 26.95% 9.93 4.4% 45.60
57 Fair Lawn Bergen 32,659 4,380 $782,041 29.18% 13.41 5.6% 45.54
58 Cherry Hill Camden 71,094 8,298 $1,227,291 30.91% 11.67 5.5% 45.45
59 New Providence Union 12,225 1,063 $2,770,717 25.12% 8.70 4.2% 45.36
60 Medford Burlington 23,138 2,746 $553,921 28.91% 11.87 3.3% 45.34
61 Clark Union 14,882 1,645 $1,360,595 30.33% 11.05 5.4% 45.23
62 Freehold Monmouth 36,070 3,992 $1,041,104 32.24% 11.07 5.0% 45.09
63 Holmdel Monmouth 16,720 1,933 $1,363,879 25.66% 11.56 3.9% 44.93
64 Clinton Hunterdon 13,382 1,277 $1,247,662 27.41% 9.54 3.4% 44.57
65 Linden Union 40,732 3,344 $4,521,939 30.35% 8.21 8.3% 44.53
66 Delran Burlington 16,874 1,466 $4,333,563 25.78% 8.69 6.4% 44.50
67 Evesham Burlington 45,663 4,512 $1,435,707 31.43% 9.88 4.9% 44.38
68 Little Ferry Bergen 10,723 1,177 $924,978 27.95% 10.98 4.1% 44.16
69 Southampton Burlington 10,447 830 $400,964 32.77% 7.94 3.6% 43.97
70 Princeton Mercer 28,621 2,126 $2,567,463 28.69% 7.43 4.7% 43.97
71 Westfield Union 30,525 3,472 $580,576 30.85% 11.37 5.5% 43.94
72 Oakland Bergen 12,830 1,465 $1,528,709 29.56% 11.42 4.7% 43.91
73 Roxbury Morris 23,444 2,293 $657,715 34.93% 9.78 5.2% 43.66
74 Bernards Somerset 26,770 2,281 $3,135,935 21.13% 8.52 3.2% 43.62
75 Cedar Grove Essex 12,450 1,418 $806,055 26.73% 11.39 4.2% 43.58
76 Bound Brook Somerset 10,462 1,064 $766,923 36.00% 10.17 6.2% 43.50
77 Lawrence Mercer 33,228 3,506 $1,322,398 30.32% 10.55 5.8% 43.49
78 Ridgewood Bergen 25,117 3,056 $566,060 26.96% 12.17 4.1% 43.33
79 Woodbridge Middlesex 99,930 8,315 $2,188,988 30.86% 8.32 5.5% 43.32
80 Ridgefield Park Bergen 12,819 1,174 $4,721,395 18.48% 9.16 4.5% 43.31
81 Upper Cape May 12,277 1,468 $457,391 28.54% 11.96 5.1% 43.23
82 Hammonton Atlantic 14,781 1,490 $774,296 33.49% 10.08 6.1% 43.20
83 Rutherford Bergen 18,201 2,210 $1,001,937 25.66% 12.14 5.2% 43.14
84 Elmwood Park Bergen 19,685 1,643 $1,197,288 32.26% 8.35 4.4% 43.05
85 Piscataway Middlesex 56,915 4,232 $4,229,615 27.62% 7.44 6.3% 43.01
86 Randolph Morris 25,812 2,481 $784,139 27.93% 9.61 3.3% 42.82
87 Readington Hunterdon 16,119 1,641 $2,297,276 27.61% 10.18 5.9% 42.80
88 Hasbrouck Heights Bergen 11,896 1,102 $1,089,887 33.39% 9.26 6.5% 42.73
89 Nutley Essex 28,437 2,375 $3,793,724 24.67% 8.35 6.5% 42.37
90 Atlantic City Atlantic 39,591 2,141 $3,501,093 41.80% 5.41 11.0% 42.26
91 Pequannock Morris 15,537 1,796 $685,241 26.50% 11.56 4.2% 42.25
92 Bridgeton Cumberland 25,271 694 $1,367,540 55.33% 2.75 10.6% 42.16
93 Edgewater Bergen 11,706 1,521 $581,250 24.52% 12.99 5.9% 42.01
94 Marlboro Monmouth 40,138 4,313 $385,144 29.12% 10.75 5.0% 42.01
95 Tenafly Bergen 14,567 2,089 $466,130 18.86% 14.34 4.6% 41.90
96 Franklin Somerset 63,274 5,582 $2,729,066 24.88% 8.82 5.2% 41.87
97 Ewing Mercer 36,125 2,948 $1,460,621 32.67% 8.16 6.5% 41.72
98 Palisades Park Bergen 19,814 2,071 $388,682 31.19% 10.45 5.3% 41.71
99 Voorhees Camden 29,261 3,397 $808,622 25.96% 11.61 5.6% 41.66
100 Montclair Essex 37,766 5,817 $274,786 19.94% 15.40 5.5% 41.58
101 Union Union 56,915 5,686 $1,006,241 32.13% 9.99 6.6% 41.48
102 Morris Morris 22,480 2,214 $2,919,753 19.47% 9.85 4.5% 41.30
103 Hazlet Monmouth 20,297 1,614 $993,372 36.62% 7.95 7.3% 41.24
104 Sparta Sussex 19,621 2,698 $422,314 22.28% 13.75 4.9% 41.09
105 Wyckoff Bergen 16,787 1,925 $407,351 23.43% 11.47 3.8% 40.97
106 Colts Neck Monmouth 10,111 1,429 $398,310 18.82% 14.13 2.4% 40.97
107 Millstone Monmouth 10,515 1,269 $362,820 24.82% 12.07 4.3% 40.62
108 Rockaway Morris 24,276 2,251 $1,579,237 26.79% 9.27 5.2% 40.61
109 River Edge Bergen 11,398 916 $364,630 30.35% 8.04 3.7% 40.59
110 Hoboken Hudson 50,929 4,894 $953,034 23.66% 9.61 3.5% 40.46
111 Neptune Monmouth 27,902 2,201 $1,417,303 31.21% 7.89 5.8% 40.29
112 Pennsauken Camden 35,861 3,224 $1,810,281 30.96% 8.99 7.8% 40.21
113 Lincoln Park Morris 10,535 892 $755,550 29.04% 8.47 4.5% 40.13
114 Hawthorne Passaic 18,868 1,934 $545,700 31.90% 10.25 7.7% 39.99
115 North Brunswick Middlesex 41,480 3,377 $1,095,789 30.71% 8.14 5.6% 39.91
116 Collingswood Camden 13,914 1,443 $399,854 24.74% 10.37 5.4% 39.67
117 Wallington Bergen 11,432 1,116 $524,702 26.61% 9.76 5.6% 39.65
118 Clifton Passaic 84,591 8,899 $809,949 25.92% 10.52 5.6% 39.52
119 Verona Essex 13,412 1,490 $272,473 23.83% 11.11 4.7% 39.45
120 Tinton Falls Monmouth 17,883 1,259 $1,958,701 28.59% 7.04 5.6% 39.40
121 Glen Rock Bergen 11,699 1,548 $1,053,036 21.38% 13.23 6.1% 39.39
122 Hillsborough Somerset 38,752 3,212 $1,246,051 27.12% 8.29 4.6% 39.21
123 Teaneck Bergen 39,994 4,935 $559,620 22.41% 12.34 4.7% 39.16
124 North Arlington Bergen 15,492 1,240 $310,117 29.27% 8.00 5.1% 39.16
125 Hamilton Mercer 88,648 6,360 $983,258 31.59% 7.17 6.4% 38.90
126 Toms River Ocean 91,690 8,542 $659,391 27.45% 9.32 6.1% 38.50
127 New Brunswick Middlesex 55,275 2,138 $1,770,865 40.60% 3.87 6.8% 38.43
128 Maple Shade Burlington 19,130 1,247 $879,816 34.80% 6.52 7.5% 38.34
129 Hillsdale Bergen 10,312 964 $554,004 26.76% 9.35 4.4% 38.30
130 Cliffside Park Bergen 24,110 2,867 $131,433 21.49% 11.89 5.6% 37.98
131 Raritan Hunterdon 22,145 1,848 $1,165,936 26.68% 8.34 5.8% 37.82
132 Fairview Bergen 13,988 1,419 $391,330 21.49% 10.14 3.5% 37.60
133 Vineland Cumberland 60,857 3,952 $1,277,054 34.08% 6.49 8.6% 37.52
134 Lodi Bergen 24,278 1,808 $666,778 29.37% 7.45 5.8% 37.43
135 Manalapan Monmouth 39,235 4,216 $452,176 22.79% 10.75 5.4% 37.38
136 Rahway Union 27,701 1,789 $1,338,413 35.49% 6.46 8.5% 37.35
137 South Orange Village Essex 16,242 2,109 $336,892 17.83% 12.98 5.1% 37.08
138 Bloomfield Essex 47,471 5,016 $541,180 20.30% 10.57 5.2% 36.97
139 Aberdeen Monmouth 18,192 1,517 $538,504 30.06% 8.34 7.4% 36.75
140 West Orange Essex 46,425 5,061 $458,038 23.22% 10.90 5.4% 36.69
141 Glassboro Gloucester 18,753 1,175 $901,275 30.55% 6.27 6.5% 36.59
142 Howell Monmouth 51,198 4,125 $627,395 28.80% 8.06 6.1% 36.43
143 Mount Olive Morris 28,321 2,194 $1,019,292 25.21% 7.75 6.3% 36.43
144 Point Pleasant Ocean 18,466 1,934 $252,689 24.56% 10.47 6.7% 36.41
145 Dover Morris 18,257 1,022 $1,282,010 32.68% 5.60 6.2% 36.21
146 Mantua Gloucester 15,177 1,301 $500,742 23.75% 8.57 5.8% 36.20
147 Deptford Gloucester 30,565 1,860 $1,010,478 30.81% 6.09 7.0% 36.14
148 Maplewood Essex 24,021 2,631 $352,525 22.58% 10.95 5.9% 35.78
149 West Milford Passaic 26,300 2,819 $362,766 25.61% 10.72 7.0% 35.72
150 Highland Park Middlesex 14,136 1,289 $194,213 24.13% 9.12 6.7% 35.66
151 Ringwood Passaic 12,273 1,217 $298,766 27.61% 9.92 6.3% 35.63
152 Sayreville Middlesex 43,356 2,966 $1,003,053 25.59% 6.84 6.3% 35.50
153 Stafford Ocean 26,689 2,407 $653,697 25.05% 9.02 7.0% 35.23
154 Monroe Middlesex 40,011 2,851 $665,907 17.19% 7.13 4.1% 35.20
155 Old Bridge Middlesex 65,793 5,800 $646,261 20.81% 8.82 5.8% 35.08
156 Perth Amboy Middlesex 51,300 3,525 $757,272 24.40% 6.87 4.4% 35.04
157 Kearny Hudson 41,123 3,456 $1,156,912 30.01% 8.40 10.1% 35.04
158 Lakewood Ocean 92,586 6,336 $804,423 25.88% 6.84 5.0% 34.96
159 Bayonne Hudson 63,819 5,644 $531,339 19.35% 8.84 5.0% 34.88
160 Dumont Bergen 17,600 1,453 $251,642 25.05% 8.26 5.6% 34.87
161 Belleville Essex 36,010 2,614 $652,515 29.53% 7.26 7.6% 34.76
162 Millville Cumberland 28,598 1,981 $1,098,229 33.01% 6.93 10.5% 34.75
163 Long Branch Monmouth 30,614 2,450 $459,609 28.57% 8.00 7.4% 34.56
164 Bellmawr Camden 11,558 576 $956,675 33.85% 4.98 9.0% 34.50
165 Brick Ocean 75,402 7,029 $407,531 23.64% 9.32 7.1% 34.28
166 Pennsville Salem 13,310 783 $1,432,156 23.50% 5.88 6.6% 34.24
167 East Windsor Mercer 27,295 2,353 $1,263,259 21.08% 8.62 6.9% 34.21
168 Middletown Monmouth 66,423 5,622 $865,195 22.63% 8.46 6.3% 34.21
169 Burlington Burlington 22,579 1,596 $1,278,764 26.25% 7.07 6.9% 34.20
170 Monroe Gloucester 36,386 2,422 $412,394 29.31% 6.66 7.6% 33.72
171 Bergenfield Bergen 26,933 2,558 $211,536 20.99% 9.50 5.5% 33.67
172 Haddon Camden 14,681 1,011 $330,123 20.38% 6.89 3.9% 33.65
173 Weehawken Hudson 12,829 1,180 $990,368 14.32% 9.20 5.0% 33.65
174 Phillipsburg Warren 14,819 1,010 $1,224,065 27.33% 6.82 9.3% 33.47
175 Hopewell Mercer 18,049 1,709 $621,035 14.69% 9.47 4.5% 33.46
176 Jersey City Hudson 251,717 20,186 $1,592,563 20.20% 8.02 7.5% 33.43
177 Florence Burlington 12,243 656 $1,025,166 25.91% 5.36 6.5% 32.95
178 Scotch Plains Union 23,657 2,453 $262,596 15.74% 10.37 5.0% 32.87
179 Hamilton Atlantic 26,568 1,749 $853,491 27.62% 6.58 7.6% 32.86
180 Lower Cape May 22,696 1,639 $388,053 23.61% 7.22 6.6% 32.85
181 Carteret Middlesex 23,487 1,591 $3,141,845 23.19% 6.77 10.3% 32.55
182 South River Middlesex 16,079 1,334 $814,085 30.81% 8.30 11.8% 32.50
183 Pleasantville Atlantic 20,391 900 $1,505,489 40.11% 4.41 12.3% 32.42
184 Lacey Ocean 27,775 2,543 $594,237 23.52% 9.16 8.4% 32.40
185 Jefferson Morris 21,401 1,868 $276,191 21.79% 8.73 6.1% 32.39
186 New Milford Bergen 16,433 1,177 $595,338 16.74% 7.16 4.1% 32.32
187 Washington Morris 18,634 1,410 $176,377 19.72% 7.57 4.4% 32.24
188 Garfield Bergen 30,748 3,228 $395,209 16.36% 10.50 6.3% 32.13
189 Harrison Hudson 14,025 1,190 $660,797 22.86% 8.48 7.8% 32.04
190 Lumberton Burlington 12,517 1,034 $689,942 20.70% 8.26 7.1% 31.78
191 Egg Harbor Atlantic 43,403 3,486 $939,727 25.93% 8.03 9.2% 31.78
192 Waterford Camden 10,711 778 $303,968 28.53% 7.26 8.9% 31.77
193 Ventnor City Atlantic 10,681 1,157 $301,433 19.45% 10.83 8.6% 31.68
194 Newark Essex 277,357 16,484 $2,901,514 27.20% 5.94 12.2% 31.38
195 Elizabeth Union 125,888 9,801 $1,112,003 23.49% 7.79 8.7% 31.21
196 Berkeley Ocean 41,458 2,025 $302,618 20.84% 4.88 5.7% 30.88
197 Manchester Ocean 43,099 1,704 $344,286 18.02% 3.95 4.2% 30.43
198 Vernon Sussex 23,450 1,952 $281,144 22.28% 8.32 7.7% 30.43
199 Harrison Gloucester 12,495 950 $178,163 22.21% 7.60 7.4% 30.41
200 Jackson Ocean 55,254 4,175 $267,790 21.56% 7.56 6.7% 30.21
201 Washington Gloucester 48,432 3,870 $581,641 19.53% 7.99 7.8% 30.15
202 Paterson Passaic 145,920 8,944 $521,694 24.36% 6.13 7.0% 30.03
203 Pompton Lakes Passaic 11,126 929 $282,629 24.65% 8.35 8.4% 29.59
204 Passaic Passaic 70,172 4,740 $429,765 21.16% 6.75 6.5% 29.48
205 Winslow Camden 39,295 2,065 $676,068 27.46% 5.26 9.0% 29.16
206 North Bergen Hudson 61,434 5,628 $721,091 20.11% 9.16 9.7% 29.11
207 Franklin Gloucester 16,791 1,748 $212,293 16.42% 10.41 8.6% 29.00
208 Gloucester Camden 64,531 4,214 $412,092 19.93% 6.53 6.7% 28.99
209 North Plainfield Somerset 22,001 1,467 $328,539 20.86% 6.67 6.4% 28.98
210 Trenton Mercer 84,609 3,644 $812,329 33.18% 4.31 11.4% 28.80
211 Kinnelon Morris 10,314 1,130 $168,957 14.42% 10.96 8.1% 28.69
212 Asbury Park Monmouth 16,000 964 $327,493 27.07% 6.03 10.3% 28.21
213 Roselle Park Union 13,384 803 $431,842 23.91% 6.00 9.6% 27.71
214 West New York Hudson 50,649 4,410 $215,698 21.90% 8.71 10.3% 27.71
215 Union City Hudson 67,233 5,877 $204,395 20.32% 8.74 9.5% 27.70
216 Roselle Union 21,212 1,507 $401,982 22.76% 7.10 9.7% 26.51
217 Hillside Union 21,538 1,918 $835,705 23.72% 8.91 12.6% 26.39
218 City of Orange Essex 30,294 1,960 $466,998 23.16% 6.47 10.5% 26.32
219 Little Egg Harbor Ocean 20,185 1,151 $186,809 21.89% 5.70 8.8% 26.15
220 Hopatcong Sussex 15,053 1,061 $163,236 21.49% 7.05 8.9% 25.99
221 Beachwood Ocean 11,105 644 $111,727 14.91% 5.80 5.0% 25.71
222 Galloway Atlantic 37,356 2,347 $448,532 17.38% 6.28 7.6% 25.69
223 Camden Camden 77,356 2,363 $1,587,311 30.68% 3.05 13.9% 25.02
224 Barnegat Ocean 21,261 1,380 $199,430 12.61% 6.49 6.8% 24.26
225 Lindenwold Camden 17,573 871 $152,941 21.70% 4.96 10.1% 23.62
226 Wanaque Passaic 11,142 762 $262,705 18.90% 6.84 10.3% 22.82
227 Plainfield Union 50,065 2,672 $539,718 22.68% 5.34 10.6% 22.62
228 Pemberton Burlington 27,951 1,325 $373,918 13.96% 4.74 7.9% 21.89
229 Irvington Essex 54,144 2,953 $546,574 25.67% 5.45 14.4% 21.82
230 Willingboro Burlington 31,772 1,661 $422,772 17.40% 5.23 10.0% 20.65
231 East Orange Essex 64,351 3,560 $374,776 19.21% 5.53 12.9% 20.14

 

Methodology

NerdWallet analyzed 231 places in New Jersey each with a population of 10,000 or more. We excluded places with less than 500 businesses, regardless of the population.

The overall score for each community was calculated using these criteria:

Business climate, 65% of the overall score, is based on three metrics from the U.S. Census Bureau’s Survey of Business Owners.

  • Average revenue of businesses is 20% of the score. A higher average contributed to a higher score.
  • Percentage of businesses with paid employees is 25% of the score. A higher percentage contributed to a higher score.
  • Businesses per 100 people is 20% of the score. A higher number contributed to a higher score.

Local economic health, 35% of the overall score, is based on three metrics from the U.S. Census Bureau’s American Community Survey.

    • Median annual income is 10% of the score. A higher median income contributed to a higher score.
    • Median annual housing costs are 10% of the score. Lower median costs contributed to a higher score.
    • Unemployment rate is 15% of the score. A lower rate contributed to a higher score.

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For more related information, visit NerdWallet’s resources on how to start a business. For free, personalized answers to questions about starting and financing your business, visit the Small Business section of NerdWallet’s Ask an Advisor page.

NerdWallet staff writer Ben Pimentel contributed to this article.

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Hackensack, New Jersey, image via iStock.