ZIP Code 07940 — Madison, NJ
IRS Income Data, Tax Year 2022
$263,025
Average AGI
#485
National Rank
#37
NJ State Rank
7,540
Tax Returns
Income Bracket Distribution
Percentage of tax returns in each AGI bracket for ZIP 07940.
Detailed Bracket Data
| Income Bracket | Returns | Total AGI | Avg AGI in Bracket | % of Returns |
|---|---|---|---|---|
| $1 - $25,000 | 1,670 | $16,575,000 | $9,925 | 22.2% |
| $25,000 - $50,000 | 800 | $29,417,000 | $36,771 | 10.6% |
| $50,000 - $75,000 | 710 | $44,186,000 | $62,233 | 9.4% |
| $75,000 - $100,000 | 560 | $48,253,000 | $86,166 | 7.4% |
| $100,000 - $200,000 | 1,320 | $189,540,000 | $143,590 | 17.5% |
| $200,000 or more | 2,480 | $1,655,238,000 | $667,434 | 32.9% |
| Total | 7,540 | $1,983,209,000 | $263,025 | 100% |
Nearby Major Cities
Closest cities by distance with significant tax filing activity.
| City | Distance | Avg AGI | Tax Returns |
|---|---|---|---|
| Newark, NJ | 13 mi | $42,702 | 125,030 |
| Elizabeth, NJ | 13 mi | $44,607 | 66,050 |
| Paterson, NJ | 17 mi | $36,296 | 78,970 |
| Staten Island, NY | 19 mi | $83,260 | 231,300 |
| Jersey City, NJ | 19 mi | $104,675 | 142,960 |
| New York, NY | 24 mi | $252,618 | 788,950 |
Similar ZIP Codes in New Jersey
| ZIP Code | City | Avg AGI | Nat. Rank |
|---|---|---|---|
| 07750 | Monmouth Beach | $265,109 | #475 |
| 07069 | $260,624 | #493 | |
| 07733 | Holmdel | $257,485 | #502 |
| 08202 | Avalon | $257,474 | #503 |
| 07481 | Wyckoff | $268,696 | #466 |
| 07311 | $256,716 | #506 | |
| 07920 | Basking Ridge | $256,230 | #513 |
| 08540 | Princeton | $271,700 | #457 |
Nearby ZIP Codes
Closest ZIP codes by geographic distance.
| ZIP Code | City | Distance | Avg AGI | Nat. Rank |
|---|---|---|---|---|
| 07932 | Florham Park, NJ | 1.7 mi | $244,072 | #562 |
| 07935 | Green Village, NJ | 1.9 mi | $349,132 | #265 |
| 07976 | New Vernon, NJ | 3.4 mi | $662,393 | #60 |
| 07928 | Chatham, NJ | 3.9 mi | $363,629 | #241 |
| 07974 | New Providence, NJ | 4.3 mi | $213,362 | #761 |
| 07980 | Stirling, NJ | 4.4 mi | $133,744 | #2,263 |
| 07960 | Morristown, NJ | 4.5 mi | $207,142 | #814 |
| 07901 | Summit, NJ | 4.5 mi | $453,191 | #145 |
About This Data
Income data is based on IRS Statistics of Income (SOI) ZIP code data for Tax Year 2022. AGI (Adjusted Gross Income) represents gross income minus certain deductions. Rankings are calculated across 545 ZIP codes in New Jersey and all U.S. ZIP codes nationally. Data reflects tax returns filed, not total population.