Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 9,784 people, 3,549 houses or apartments, and a median cost of homes of $496,521, Budd Lake real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Budd Lake, accounting for 71.30% of the town's housing units. Other types of housing that are prevalent in Budd Lake include large apartment complexes or high rise apartments ( 15.64%), duplexes, homes converted to apartments or other small apartment buildings ( 6.88%), and a few row houses and other attached homes ( 6.19%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Budd Lake. Owner-occupied housing accounts for 75.00% of Budd Lake's homes, and 62.04% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Budd Lake built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Budd Lake built between 1940-1969 ( 36.60%). A lesser amount of the housing stock also hails from between 2000 and later ( 16.11%). There's also some housing in Budd Lake built before 1939 ( 8.51%).
Real estate appreciation rates in Budd Lake's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.24% during the period.
Appreciation rates are so strong in Budd Lake that despite a nationwide downturn in the housing market, Budd Lake real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Budd Lake appreciation rates continue to be some of the highest in America, at 11.01%, which is higher than appreciation rates in 91.13% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Budd Lake. Budd Lake appreciation rates in the latest quarter were at 2.82%, which equates to an annual appreciation rate of 11.77%.
Relative to New Jersey, our data show that Budd Lake's latest annual appreciation rate is higher than 50% of the other cities and towns in New Jersey.
$496,521
for New jersey
for nation
3,549
$3,118 / per month