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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Budd Lake, NJ Real Estate Market

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 Q3 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2021 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Budd Lake, NJ Housing Market Trends

With 9,784 people, 3,475 houses or apartments, and a median cost of homes of $546,476, real estate costs in Budd Lake are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive New Jersey communities.

Single-family detached homes are the single most common housing type in Budd Lake, accounting for 73.46% of the town's housing units. Other types of housing that are prevalent in Budd Lake include large apartment complexes or high rise apartments ( 14.54%), row houses and other attached homes ( 6.35%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.65%).

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 76.49% of Budd Lake's homes, and 63.02% 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 ( 34.08%). A lesser amount of the housing stock also hails from between 2000 and later ( 17.53%). There's also some housing in Budd Lake built before 1939 ( 8.05%).

Budd Lake Home Appreciation Rates

Real estate appreciation rates in Budd Lake's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.59% during the period.

NeighborhoodScout's data show that during the latest twelve months, Budd Lake's appreciation rate, at 5.74%, has been at or slightly above the national average. In the latest quarter, Budd Lake's appreciation rate has been 3.21%, which annualizes to a rate of 13.46%.

Relative to New Jersey, our data show that Budd Lake's latest annual appreciation rate is higher than 70% of the other cities and towns in New Jersey.

Average Home Values

Median Home Value

$546,476

Budd Lake, NJ Home Prices
> $1,501,000
$1,126,001 - $1,501,000
$750,001 - $1,126,000
$601,001 - $750,000
$451,001 - $601,000
$300,001 - $451,000
$150,001 - $300,000
$75,001 - $150,000
$0 - $75,000
0.0%
0.0%
3.6%
3.6%
16.8%
16.8%
20.1%
20.1%
32.0%
32.0%
16.8%
16.8%
7.5%
7.5%
1.2%
1.2%
2.0%
2.0%
0% 100.0%
% of Homes
Average

for New jersey

Very High

for nation

Number of Homes And Apartments:

3,475

Budd Lake Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,889 / per month

Homeownership Rate

Owners
Renters
Vacant
76.5%
76.5%
23.5%
23.5%
1.9%
1.9%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
17.5%
17.5%
40.3%
40.3%
34.1%
34.1%
8.0%
8.0%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
73.5%
73.5%
6.4%
6.4%
5.6%
5.6%
14.5%
14.5%
0.0%
0.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.0%
0.0%
17.3%
17.3%
15.4%
15.4%
34.4%
34.4%
28.6%
28.6%
4.2%
4.2%
0% 100.0%
% of Homes

Popular Neighborhoods in Budd Lake

Zip Codes in Budd Lake, NJ