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EconPulse

Local economy signal dashboard

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COUNTYStable

Union County, NJ

Stable overall. Population is the clearest support signal, while jobs needs the most attention. Housing reads as affordable for a median-income household.

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Overall score66out of 100
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74
52
76
72
NA

Population

579,290

Data freshness

Unknown

GDP / Output

+5.0% YoY

74

$51.9B

Output changed +5.0% in 2024.

Vintage date unknown

State growth4.8%
U.S. growth5.3%

Jobs

Unemployment rate

52

4.6%

Unemployment is 4.6% for June 2026.

Vintage date unknown

State avg4.5%
U.S. avg4.2%

Population

+4.3% 5-year

76

579,290

Population moved +4.3% over the latest ACS window.

Vintage date unknown

State population9,343,809
U.S. population334,922,499

Housing

Rent share of income

72

20.1%

Median rent consumes 20.1% of median household income: Affordable.

Vintage date unknown

State rent$1.7K
U.S. rent$1.4K
HUD_API_TOKEN missing; ACS median gross rent is used as the housing affordability fallback.

Federal Funds

Unavailable per resident

NA

Unavailable

Federal spending data is unavailable for this geography.

Vintage date unknown

State total$96.5B
U.S. total$5.3T
USAspending federal inflow temporarily unavailable.

Population and output

Trend Snapshot

Reported share

Industry Breakdown

FY2025

Federal Money

Federal obligations

Unavailable

No federal obligations were reported for this geography.

Top agencies

Dollars

No agencies reported.

Top recipients

Dollars

No recipients reported.

Affordable

Housing Affordability

20.1%

of median income

1BR estimate$1,419
2BR estimate$1,868
Median income$103,202
Median home value$529,200

ACS context

Quick Facts

Population

579,290

Median age

39.1

Bachelor's degree+

38.9%

Poverty rate

9.2%

Labor force participation

69.3%

Prime rate

6.8%

CPI YoY

+3.2%

U.S. GDP YoY

+6.5%

Sources and warnings

Data Provenance

Census ACS 5-year

2024

BLS LAUS / CPS

June 2026

BEA regional CAGDP1

2024

USAspending

FY2025

FRED

2026-07-29

HUD Fair Market Rent

Latest available

Data notes
  • USAspending federal inflow temporarily unavailable.
  • HUD_API_TOKEN missing; ACS median gross rent is used as the housing affordability fallback.

5-year compound growth

Historical Trends

Population CAGR

+0.9%

GDP CAGR

+6.0%

Federal flow

N/A

Population (5 years)
2020555,208
2021571,963
2022572,079
2023572,549
2024579,290
GDP (5 years)
2020$38.8B
2021$41.4B
2022$46.2B
2023$49.5B
2024$51.9B

2-year linear forecast

Predictive Outlook

Population forecast

2024579,290
2025584,843 *
2026589,718 *

R² = 74.4% · * projected

GDP forecast

2024$51.9B
2025$55.8B *
2026$59.3B *

R² = 98.8% · * projected

Linear regression over available historical data. Projections are estimates based on past trends and do not account for policy changes, economic shocks, or other external factors.

housing affordability breakdown

Cost of Living

Median household income$103,202/yr
Median rent$1,730/mo
Rent share of income20.1%
Est. mortgage (30yr, 6.5%)$32,111/yr
Mortgage share of income31.1%

Rent data from Census ACS 5-year. Mortgage estimate assumes 20% down, 6.5% APR, 30-year fixed.

employment snapshot

Job Market

Unemployment rate4.6%
State avg4.5%
U.S. avg4.2%
Labor force participation69.3%
Poverty rate9.2%

Data from BLS LAUS / CPS. June 2026.

valuation snapshot

Real Estate

Median home value$529,200
Median monthly rent$1,730
Price-to-rent ratio25.5x

High price-to-rent ratio — renting may be more economical than buying in this market.

composite score

Investment Climate

Investment climateModerate
Composite score67/100
Economic growth74/100
Labor market52/100
Population momentum76/100
Overall stability66/100

Composite score weighs economic growth, labor market health, population momentum, and overall stability. Not financial advice.

Location Context

Union County, New Jersey

County

Part of

New York-Newark-Jersey City, NY-NJ

Nearby locations

Cranford, NJGarwood, NJKenilworth, NJWestfield, NJRoselle Park, NJ