Silver Lake CDP (Essex County), NJ

Full City Profile · New Jersey · Essex County County

3.7 /5.0
B+ Good
4,034 Population 12,224/sq mi density
$86,615 Median Income $30,496 per capita
$483,700 Home Value $1,103,768 Zillow
$1,501 Median Rent 21.4% income on rent
56°F Avg Temperature
B+
Overall
3.7 / 5.0
Good overall score based on economy, affordability, safety and education
A
Economy
4.4 / 5.0
$86,615 median income, 2.8% unemployment
B+
Affordability
3.5 / 5.0
$483,700 home value, $1,501/mo rent
B
Education
3.1 / 5.0
26.3% bachelor's degree or higher

Silver Lake CDP (Essex County), NJ

At a Glance

Median Income
$86,615
15% above
$30,496 per capita
Home Value
$483,700
72% above
Zillow: $1,103,768
Median Rent
$1,501/mo
29% above
21.4% of income on rent
Bachelor's Degree+
26.3%
22% below
90.9% high school+
Unemployment
2.8%
22% below
9.6% poverty rate
Obesity Rate
31.3%
2% below
13.4% smoking rate
Avg Temperature
56°F

How Silver Lake CDP (Essex County) Compares to the U.S. Average

Each bar shows Silver Lake CDP (Essex County)'s value as a percentage of the national average (100% = U.S. avg)

Income
115%
Home Value
172%
Rent
129%
Poverty
77%
Bachelor's
78%
Unemployment
78%
Thin vertical line = U.S. national average (100%)

Is Silver Lake CDP (Essex County) a Good Place to Live?

B+
3.7 / 5.0 - Good
Based on economy, affordability, safety, and education metrics compared to national averages.

Economy & Jobs

Silver Lake CDP (Essex County) residents earn a median household income of $86,615 , which is 15% above the national average of $75,149. Per capita income is $30,496. The unemployment rate stands at 2.8% (22% below the U.S. rate of 3.6%). 9.6% of residents live below the poverty line. The area is home to 23,692 business establishments, including 1,759 restaurants.

Housing & Cost of Living

The median home value in Silver Lake CDP (Essex County) is $483,700 , 72% above the national median of $281,900. Zillow estimates the typical home at $1,103,768. Median rent is $1,501/month, with 21.4% of renters spending more than 30% of income on housing. The cost of living index is 108.8 (100 = national average). The median home was built in 1955.

Education

26.3% of adults in Silver Lake CDP (Essex County) hold a bachelor's degree or higher (22% below the national average). 90.9% have completed high school. Local schools score 5.8/10 in standardized testing.

Climate & Weather

Silver Lake CDP (Essex County) has an average annual temperature of 56°F (13°C). Winters average 33°F in January while summers reach 78°F in July. Annual precipitation totals 46.6 inches.

Data Overview

People

Population4,034
Median Age41.2 yrs
Density12,224/mi²
Male / Female40% / 60%
Foreign Born39.3%
Veterans1.3%

Economy

A
Median Income$86,615
Per Capita$30,496
Unemployment2.8%
Poverty9.6%
County GDP$76,180M
Avg Weekly Wage$1,699

Housing

B+
Home Value$483,700
Rent$1,501
Ownership60.8%
Zillow$1,103,768
Housing Units1,521
Rent Burden21.4%

Health

Obesity31.3%
Diabetes12.7%
Smoking13.4%
Heart Disease5.6%
Premature Death8,341/100K

Climate

Avg Temp56°F
Rain46.6 in/yr
Elevation108 ft

Education

B
Bachelor's+26.3%
High School+90.9%
Graduate+9.8%
School Score5.8/10

Community

2024 VoteR 27% / D 72%
Commute38 min
Broadband86.7%
Internet Speed174 Mbps
EV Stations1
Libraries34

Did You Know?

The median home in Silver Lake CDP (Essex County) was built in 1955.
16.9% of residents use public transit to commute.
The nearest airport is Newark Liberty International (6 miles).
The Gini coefficient (income inequality) is 0.549 (U.S. avg: 0.490).
Natural hazard risk is rated "Relatively High" by FEMA.
15.1% of the population has a disability.
39.3% of residents are foreign-born.
Average internet download speed is 174 Mbps.
There are 1,759 restaurants in the area.
The county recorded 51 fatal vehicle crashes.