Budd Lake, NJ
Full City Profile · New Jersey · Morris County County
4.6
/5.0
A+
Excellent
10,106
Population
1,858/sq mi density
$113,036
Median Income
$51,719 per capita
$437,200
Home Value
$543,710 Zillow
$1,326
Median Rent
24.3% income on rent
51°F
Avg Temperature
A+
Overall
4.6 / 5.0
Strong
A
Economy
4.4 / 5.0
$113,036 median income, 5.8% unemployment
A+
Affordability
4.5 / 5.0
$437,200 home value, $1,326/mo rent
A+
Education
4.8 / 5.0
47.9% bachelor's degree or higher
Housing Overview
Median Home Value
$437,200
55% above
US avg: $281,900
Median Rent
$1,326/mo
14% above
US avg: $1,163/mo
Homeownership Rate
73.9%
13% above US avg (65.4%)
Total Housing Units
3,620
Median year built: 1973
Home Value by Source
Census Median
$437,200
Zillow (ZHVI)
$543,710
Redfin Median Sale
$482,500
Median Sale Price
$482,500
Median List Price
$635,000
Census ACS, Zillow ZHVI, Redfin median sale price
Ownership vs. Renting
73.9%
Owner-Occupied
26.1%
Renter-Occupied
US avg: 65.4% owner-occupied
Fair Market Rents (HUD FY2026)
Studio
$1,599/mo
1 Bedroom
$1,759/mo
2 Bedroom
$2,132/mo
3 Bedroom
$2,658/mo
4 Bedroom
$3,005/mo
Census median rent:
$1,326/mo
· Zillow rent:
$2,192/mo
Market Indicators (Redfin)
Median Sale Price
$482,500
Median Days on Market
61 days
Sale-to-List Ratio
1.0%
Buyers market
Homes Sold
6
Price Drops
16.7%
of listings with price reduction
Price Per Sq Ft
$380
Active Inventory
12
homes for sale
Affordability & Housing Stock
Rent Burden
24.3%
of renters spending 30%+ of income on housing
22% below US avg (31.0%)
Median Year Built
1973
Average age of housing stock: 53 years
Homeownership Rate
73.9%
Complete Housing Data
Home Values
| Census Median Value | $437,200 |
| Zillow Home Value (ZHVI) | $543,710 |
| Redfin Median Sale | $482,500 |
| Median Sale Price | $482,500 |
| Median List Price | $635,000 |
| Price Per Sq Ft | $380 |
Rent
| Census Median Rent | $1,326 |
| Zillow Rent (ZORI) | $2,192 |
| FMR Studio | $1,599 |
| FMR 1-Bedroom | $1,759 |
| FMR 2-Bedroom | $2,132 |
| FMR 3-Bedroom | $2,658 |
| FMR 4-Bedroom | $3,005 |
Market
| Days on Market | 61 |
| Sale-to-List Ratio | 1.0% |
| Price Drops | 16.7% |
| Homes Sold | 6 |
| Active Inventory | 12 |
| Price Per Sq Ft | $380 |
Ownership & Stock
| Owner-Occupied | 73.9% |
| Renter-Occupied | 26.1% |
| Homeownership Rate | 73.9% |
| Total Housing Units | 3,620 |
| Median Year Built | 1973 |
| Rent Burden | 24.3% |