Wharton was originally incorporated as the borough of Port Oram in 1895 from portions of Randolph and Rockaway Township. The borough's name changed to Wharton in 1902. The Morris Canal ran through Wharton and many of the homes in Wharton were built in the 1800s and early 1900s. There is a mixture of single as well as multi-family homes with a strong rental community. Main Street in Wharton has lots of small shops and restaurants.

Wharton townhome and condo neighborhoods include Overlook Village.

Wharton is easily accessible to Routes 80, 15, and 46. Wharton is only minutes away from the Dover Train Station, located on Dickerson Street, which is served by NJ Transit's Morristown Line and Montclair-Boonton Line.

The Wharton Borough School District serves public school students in Kindergarten through eighth grade. Schools in the district are the Marie V. Duffy Elementary School (K - 5) and Alfred C. MacKinnon Middle School (grades 6 - 8). Public school students in grades 9 - 12 attend Morris Hills High School, in Rockaway Borough, which also serves the residential community of Rockaway Township.

Wharton has numerous parks and recreational facilities which include Memorial Park, Milennium Park, Huff Street Playground, and the Robert and Lafayette athletic fields.

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