 The per capita income for the borough was $31,382.About 1.1% of families and 2.1% of the population were below the poverty line, including 1.1% of those under age 18 and 2.9% of those age 65 or over.The Borough of Medford Lakes is governed under the 1923 Municipal Manager Law form of New Jersey municipal government, one of 7 of 565 municipalities statewide that use this form.