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
Housing Overview
Median Home Value
$483,700
72% above
US avg: $281,900
Median Rent
$1,501/mo
29% above
US avg: $1,163/mo
Homeownership Rate
60.8%
7% below US avg (65.4%)
Total Housing Units
1,521
Median year built: 1955
Home Value by Source
Census Median
$483,700
Zillow (ZHVI)
$1,103,768
Census ACS, Zillow ZHVI, Redfin median sale price
Ownership vs. Renting
60.8%
Owner-Occupied
39.2%
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:
$1,501/mo
Affordability & Housing Stock
Rent Burden
21.4%
of renters spending 30%+ of income on housing
31% below US avg (31.0%)
Median Year Built
1955
Average age of housing stock: 71 years
Homeownership Rate
60.8%
Complete Housing Data
Home Values
| Census Median Value | $483,700 |
| Zillow Home Value (ZHVI) | $1,103,768 |
Rent
| Census Median Rent | $1,501 |
| 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
Ownership & Stock
| Owner-Occupied | 60.8% |
| Renter-Occupied | 39.2% |
| Homeownership Rate | 60.8% |
| Total Housing Units | 1,521 |
| Median Year Built | 1955 |
| Rent Burden | 21.4% |