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The racial makeup of the borough was 96.42% (5,737) White, 0.29% (17) Black or African American, 0.10% (6) Native American, 1.75% (104) Asian, 0.13% (8) Pacific Islander, 0.17% (10) from other races, and 1.14% (68) from two or more races.Hispanic or Latino of any race were 3.01% (179) of the population.In the borough the population was spread out with 27.4% under the age of 18, 4.2% from 18 to 24, 25.0% from 25 to 44, 27.7% from 45 to 64, and 15.7% who were 65 years of age or older. The median income for a household in the borough was ,094, and the median income for a family was 4,033.Males had a median income of ,941 versus ,938 for females. About 0.4% of families and 0.8% of the population were below the poverty line, including none of those under age 18 and 0.8% of those age 65 or over.There were 2,146 households out of which 37.3% had children under the age of 18 living with them, 68.4% were married couples living together, 8.2% had a female householder with no husband present, and 21.3% were non-families.18.5% of all households were made up of individuals, and 10.4% had someone living alone who was 65 years of age or older.In 1878 he circulated a petition to the community recommending that the name be revised and on July 30, 1879, the Post Office name was changed from "Parkersville" to "Little Silver".

The average household size was 2.76 and the average family size was 3.13. For every 100 females age 18 and over, there were 87.0 males.

There are several tales of how Little Silver received its name.

In one, brothers Joseph and Peter Parker, who settled in this area in 1667 and owned land bounded by Parker's Creek on the south and Little Silver Creek on the north, named their holdings "Little Silver" after their father's (George Parker) estate in Portsmouth, Rhode Island. Lovett owned a nursery that once covered almost half the borough, supplying large catalog houses such as Sears Roebuck, Macy's and Newberry's.

The Borough form of government used by Little Silver, the most common system used in the state, is a "weak mayor / strong council" government in which council members act as the legislative body with the mayor presiding at meetings and voting only in the event of a tie.

The mayor can veto ordinances subject to an override by a two-thirds majority vote of the council.