Budd Lake, NJ—07828
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Budd Lake, NJ
As of Nov '25, the median home price in Budd Lake, NJ is $543,000, with a year-over-year change of 2.3%. This indicates that home prices in Budd Lake, NJ are increasing. According to Zillow, the 1-year price projection is 1.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $543,000 | 2.3% |
| Single Family | $545,000 | 1.3% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $359,000 | 1.4% |
3 Bed | $513,000 | 3.4% |
4 Bed | $647,000 | 3.0% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Budd Lake, NJ
As of July '25, Rentcast reports the average rent in Budd Lake, NJ is $2,720, with a year-over-year rent change of 12.4%. Per bedroom, the median rent as of July '25 in Budd Lake, NJ is studios: $2,820, 1-bedrooms: $1,690, 2-bedrooms: $2,000, 3-bedrooms: $3,900. The most common rental property sizes in Budd Lake, NJ are 1-bedroom and 2-bedroom, accounting for 62.9% and 28.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,000 | $2,720 |
| Studio Rent | $2,820 | $2,820 |
| 1 Bed Rent | $1,680 | $1,690 |
| 2 Bed Rent | $2,000 | $2,000 |
| 3 Bed Rent | $3,800 | $3,900 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Budd Lake, NJ
As of Nov '25, Realtor.com reports that the median days on market for a home in Budd Lake, NJ is 36. This is a increase of 66.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 15.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $500,000 | 4.0% |
Listing Count | 27 | 45.0% |
| Listings as % of Homes | 0.4% | 45.0% |
Days on Market | 36 | 66.0% |
Demographics — Budd Lake, NJ
As of the latest ACS Survey released in 2023, Budd Lake, NJ has a population of 14,700, which has decreased by -4.2% over the past 5 years. Budd Lake, NJ is a moderately popular place for families, as children make up 22.8% of the population. The area has a moderately educated workforce, with 44.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 14.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 14,700 | -4.2% |
% Under 18 | 22.8% | -4.2% |
% Seniors | 11.7% | 5.4% |
% WFH | 14.3% | 210.9% |
% w/ College Degree | 44.3% | 15.7% |
As of the latest ACS Survey released in 2023, Budd Lake, NJ is a predominantly white area, with 58.3% of the population identifying as white. The white population has shrunk by 13.8% in the last 5 years. The second most common race or ethnicity in Budd Lake, NJ is hispanic, making up 22.1% of the population. Foreign-born residents account for 21.1% of the population in Budd Lake, NJ, and this percentage has decreased by 2.8% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 58.3% | -13.8% |
% Black | 11.6% | 63.4% |
% Hispanic | 22.1% | 41.7% |
% Asian | 6.9% | -10.4% |
% Foreign Born | 21.1% | -2.8% |
Mortgage and Risk — Budd Lake, NJ
According to HUD data as of 2023, there were 149 mortgage originations in Budd Lake, NJ, of which 89.0% of loans were conventional mortgages. The average loan-to-value was 60.0%, with 20.0% above 90% LTV (very high). This implies large mortgage risk in Budd Lake, NJ. Investor activity is low, as 1.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 149 |
% Conventional Loans | 89.0% |
% Government Loans | 11.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 8.0% |
Rentals and Section 8 — Budd Lake, NJ
Budd Lake, NJ lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 121 |
Total Units Section 8 | 115 |
% Rentals under Section 8 | 4.8% |
% Occupied Section 8 | 96.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$70 | $1,680 | $1,610 |
| 2 Bedroom | -$50 | $2,000 | $1,950 |
| 3 Bedroom | -$1,340 | $3,800 | $2,460 |
| 4 Bedroom | N/A | N/A | $2,790 |
Affordability — Budd Lake, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.7 |
| Median Home Price | $543,000 |
| Median Household Income | $97,000 |