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November 1, 2020 – What is Median Income in NJ?

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November 1, 2020

Median income is the amount that divides the income distribution into two equal groups:

  1. Half having income above that amount
  2. Half having income below that amount.

New Jersey has the highest median income in all 50 states.

  • 1 earner = $71,064
  • Family Size: *
    • 2 = $87,432
    • 3 = $111,046
    • 4 = $132,708

 Add $9,000 for each individual in excess of 4.

 Median income is an important factor that I can work with you in determining not only the type of bankruptcy but also your eligibility.

If you  would like to see the complete chart, go to:   https://www.justice.gov/ust/eo/bapcpa/20201101/bci_data/median_income_table.htm