Peapack and Gladstone, New Jersey

Population

Growing. Up 1.2% since 2020.

2,587

people, the 245th-largest of New Jersey's cities and towns.

Census Population Estimates, 2025. Rank among New Jersey's cities and towns computed by the Almanac. Sources: Census Population Estimates

The workday

Nearly every job here goes to someone who lives somewhere else.

97.1%

of 3,431 jobs located in Peapack and Gladstone are filled by in-commuters.

Census LEHD LODES, 2023. Sources: Census LEHD LODES

Rent

Median rent is up 52% since the 2005–2009 survey, before inflation.

$1,820

a month. New Jersey's median is $1,720.

Census ACS 5-year, 2020-2024 (latest), with earlier 5-year windows. Survey estimates for a place this size carry wide margins of error. Sources: Census ACS 5-year

The seam

Cross one tract line and median rent doubles.

A $2,961 gap between neighbors, the sharpest rent edge between adjacent tracts in Somerset County.

• $540 Tract 524
• $3,501 Tract 526.04

Census ACS 5-year, 2020-2024, adjacent tracts compared by the Almanac. Tract estimates carry wide margins of error. Sources: Census ACS 5-year

Room to build

The median rent sits inside what local wages can carry.

$1,399–$2,099

is the monthly rent range local workforce wages support.

• $1,820 median

Supportable rent computed by the Almanac from 2023 source wage data. Median rent: Census ACS 5-year, 2020-2024. Sources: Computed by the Almanac, Census ACS 5-year

Building

Most of the housing here is older than 2000.

• 91 homes permitted in ten years, 2016–2025
• 33% of those were in multifamily buildings
• 92% of all homes were built before 2000

Census Building Permits Survey, 2016–2025; Census ACS 5-year, 2020-2024. Survey estimates for a place this size carry wide margins of error. Sources: Census Building Permits Survey, Census ACS 5-year

Units needed

Closing the gap would add 0.1–3.4% to the 996 homes here.

1–34

is the estimated number of missing housing units, from the lowest to the highest of three estimates.

Range computed by the Almanac from 2023 jobs and household data, using three demand models: 1% of jobs located here, 1% of renter households, and a rate by town size applied to renters. The low end is the lowest of the three and the high end the highest. It is an estimate, not a count. Sources: Computed by the Almanac

Home value

A median home costs 91% more than New Jersey's.

$868,800

median home value in Peapack and Gladstone.

• $868,800 Peapack and Gladstone
• $454,400 New Jersey
• $332,700 U.S.

Census ACS 5-year, 2020-2024. Survey estimates for a place this size carry wide margins of error. Sources: Census ACS 5-year