Budd Lake, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Budd Lake Neighborhoods Since 2000




Budd Lake, NJ Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Budd Lake Housing Market Information

With 9,224 people, 3,191 houses or apartments, and a median cost of homes of $279,339, Budd Lake real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Budd Lake, accounting for 67.78% of the town's housing units. Other types of housing that are prevalent in Budd Lake include large apartment complexes or high rise apartments ( 22.44%), duplexes, homes converted to apartments or other small apartment buildings ( 5.98%), and a few row houses and other attached homes ( 3.39%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Budd Lake. Owner-occupied housing accounts for 66.18% of Budd Lake's homes, and 55.85% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Budd Lake built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Budd Lake built between 1940-1969 ( 30.31%). A lesser amount of the housing stock also hails from between 2000 and later ( 13.23%). There's also some housing in Budd Lake built before 1939 ( 8.66%).

Budd Lake Home Appreciation Rates

Homes have actually lost value in Budd Lake over the last then years, as home values have seen a decline of 24.50% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Budd Lake home appreciation rates at 0.66%, which equates to an annual appreciation rate of 2.68%.

Over the last year, Budd Lake appreciation rates have trailed the rest of the nation. In the last twelve months, Budd Lake's appreciation rate has been 2.13%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Budd Lake were at 0.66%, which equates to an annual appreciation rate of 2.68%.

Relative to New Jersey, our data show that Budd Lake's latest annual appreciation rate is lower than 60% of the other cities and towns in New Jersey.

Average Home Values

 

Median Home Value:
$279,339

Budd Lake, NJ HOME PRICES

Value Range
> $1,054,000 0.0
$791,001 - $1,054,000 0.5
$527,001 - $791,000 8.2
$421,001 - $527,000 14.2
$317,001 - $421,000 24.1
$211,001 - $317,000 33.7
$106,001 - $211,000 17.6
$53,001 - $106,000 0.2
$0 - $53,000 1.5

Low for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
18.574944333763 69.7154471544715

Number Of Homes And Apartments:
3,191

Budd Lake Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NJ*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
32.84% 1.66% 2 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,504 / per month

Homeownership Rate

Homeownership
Owners 66.18
Renters 33.82
Vacant 6.01

Housing Market Details

 

Age of Homes

AGE OF Budd Lake HOMES
2000 or Newer 13.2
1970 - 1999 47.8
1940 - 1969 30.3
1939 or Older 8.7

Types of Homes

TYPE OF Budd Lake HOMES
Single-Family 67.8
Townhomes 3.4
Small Apt. Buildings 6.0
Apt. Complexes 22.4
Mobile Homes 0.4
Other 0.0

Home Size

SIZE OF Budd Lake HOMES
No Bedroom 2.39
1 Bedroom 21.59
2 Bedrooms 16.35
3 Bedrooms 26.45
4 Bedrooms 29.40
5 or more bedrooms 3.83