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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
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%).
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.
$546,476
for New jersey
for nation
3,475
$2,889 / per month