Summit is a medium-sized city located in the state of New Jersey. With a population of 22,019 people and four constituent neighborhoods, Summit is the 90th largest community in New Jersey.
Summit home prices are not only among the most expensive in New Jersey, but Summit real estate also consistently ranks among the most expensive in America.
Summit is a decidedly white-collar city, with fully 91.62% of the workforce employed in white-collar jobs, well above the national average. Overall, Summit is a city of managers, professionals, and sales and office workers. There are especially a lot of people living in Summit who work in management occupations (18.48%), business and financial occupations (12.80%), and sales jobs (12.19%).
Also of interest is that Summit has more people living here who work in computers and math than 95% of the places in the US.
One interesting thing about the economy is that relatively large numbers of people worked from their home: 7.67% of the workforce. While this number may seem small overall, as a fraction of the total workforce this is high compared to the rest of the county. These workers are often telecommuters who work in knowledge-based, white-collar professions. For example, Silicon Valley has large numbers of people who telecommute. Other at-home workers may be self-employed people who operate small businesses out of their homes.
In addition, Summit is home to many people who could be described as "urban sophisticates". Urban sophisticates are people who are both educated and wealthy, and thus tend to be older, richer, and more established than young professionals. "Urban sophisticates" is not just about being educated and well-off financially: it is a point of view and state of mind, one that you might call 'urbaneness'. But such people can and do regularly live in small towns, suburbs and rural areas, as well as in big cities. They read, support the arts and high-end shops, and love travel.
Summit is a good choice for families with children because of several factors. Many other families with children live here, making it a place where both parents and children are more likely to develop social ties with other families. The city’s good public school district and large population of college-educated adults provide an environment conducive to academic success. Many people own their own single-family homes, providing areas for children to play and stability in the community. Finally, Summit’s overall crime rate is lower than average for the country.
One downside of living in Summit is that it can take a long time to commute to work. In Summit, the average commute to work is 31.42 minutes, which is quite a bit higher than the national average. On the other hand, local public transit is widely used in the city, so leaving the car at home and taking transit is often a viable alternative.
For the size of the city, public transportation in Summit is quite heavily used. Mostly, people who use it for their daily commute are taking the train. For Summit, the benefits are reduced air pollution and congestion on the highways.
If knowledge is power, Summit is a pretty powerful place. 70.32% of the adults in Summit have earned a 4-year college degree, masters degree, MD, law degree, or even PhD. Compare that to the national average of 21.84% for all cities and towns.
The per capita income in Summit in 2010 was $79,044, which is wealthy relative to New Jersey and the nation. This equates to an annual income of $316,176 for a family of four. However, Summit contains both very wealthy and poor people as well.
Summit is a very ethnically-diverse city. The people who call Summit home describe themselves as belonging to a variety of racial and ethnic groups. The greatest number of Summit residents report their race to be White, followed by Asian. Summit also has a sizeable Hispanic population (people of Hispanic origin can be of any race). People of Hispanic or Latino origin account for 15.06% of the city’s residents. Important ancestries of people in Summit include Italian, German, English, and Polish.
Summit also has a high percentage of its population that was born in another country: 22.65%.
The most common language spoken in Summit is English. Other important languages spoken here include Spanish and Chinese.