What is now Alloway was formally incorporated as Upper Alloways Creek Township by a Royal Charter granted on June 17, 1767, from portions of the now-defunct Alloways Creek Township. The township was formally incorporated by an act of the New Jersey Legislature on February 21, 1798. Quinton Township was formed from portions of the township on February 18, 1873. The name was officially changed to Alloway Township as of February 21, 1884.
According to the United States Census Bureau, the township has a total area of 33.2 square miles (85.9 km²), of which, 32.8 square miles (85.1 km²) of it is land and 0.3 square miles (0.9 km²) of it (0.99%) is water.
There were 948 households out of which 36.0% had children under the age of 18 living with them, 66.8% were married couples living together, 7.0% had a female householder with no husband present, and 21.7% were non-families. 18.7% of all households were made up of individuals and 8.2% had someone living alone who was 65 years of age or older. The average household size was 2.80 and the average family size was 3.19.
In the township the population was spread out with 28.1% under the age of 18, 6.8% from 18 to 24, 29.0% from 25 to 44, 23.8% from 45 to 64, and 12.4% who were 65 years of age or older. The median age was 37 years. For every 100 females there were 103.5 males. For every 100 females age 18 and over, there were 105.0 males.
The median income for a household in the township was $56,528, and the median income for a family was $65,132. Males had a median income of $43,839 versus $27,188 for females. The per capita income for the township was $22,935. About 4.5% of families and 8.2% of the population were below the poverty line, including 8.1% of those under age 18 and 4.6% of those age 65 or over.
The Alloway Township Committee consists of Mayor Joseph G. Fedora (R), Edwin Masker (D) and Lester Sutton (R).
In elections held on November 6, 2007 for the open seat on the Township Committee, Democratic Party candidate Edwin P. Masker (618 votes) unseated incumbent Republican Douglas Lore (436 votes). Masker took office in January 2008.
Students in public school for grades nine through twelve attend Woodstown High School in Woodstown, which serves students from Pilesgrove Township and Woodstown, along with students from Alloway Township, Oldmans Township and Upper Pittsgrove Township who attend the high school as part of sending/receiving relationships with the Woodstown-Pilesgrove Regional School District.