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Budd Lake

Learn about the people, housing, costs and businesses in Budd Lake, New Jersey

Median Home$450,194
Median Rent$1,662/month
Population10,456
Leading IndustriesProfessional Services · Arts, Food & Hospitality · Finance & Insurance4% professional services
Home Value Growth⬆⬆⬆+25.8% over 2 years
Young Adults32% of residentsabove average nationally
Homeowners61% of occupied units
NotableHigh Incomes$125k/year · top 7% nationally
NotableHighly Educated28% bachelor's · 13% graduate · top 12% nationally
Budd Lake
NJ

Frequently Asked Questions

What are today's mortgage rates in Budd Lake?

As of today, the 30-year fixed mortgage rate for Budd Lake is approximately 6.842% (6.876% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Budd Lake?

The median home value in Budd Lake is $450k. The median monthly rent is $1,662. Annual property taxes average $9k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Budd Lake?

Home values in Budd Lake have increased 25.8% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Budd Lake?

Based on a typical all-in ownership cost of $2,122/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $91k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Budd Lake is $125k/year.

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What industries drive the economy in Budd Lake?

The largest employment sectors in Budd Lake are public administration (20%) and retail (14%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.