Budd Lake, New Jersey Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Budd Lake, New Jersey rental market.
Budd Lake, New Jersey
Average Apartment Rent
$2,000
Y-o-Y Change in Average
Apartment Rent
1.5%
As of May 2025
Compared to a year ago, Budd Lake, New Jersey apartments have recorded a 1.5% rent increase.
Budd Lake, New Jersey Average apartment rent trend
Budd Lake, New Jersey Average Apartment Rent
Budd Lake, New Jersey Apartment rent ranges
At 51.3%, apartments priced $2,000 - $2,500 represent the bulk of Budd Lake, New Jersey rentals, while condos priced $2,500 - $3,000 hold the lowest share of the market – 11.24%.
Budd Lake, New Jersey Housing tenure**
Renters take up 25% of Budd Lake, New Jersey real estate, occupying a total of 885 units, while homeowners live in 2,664 properties.
Median number of rooms of renter-occupied housing units**
3.8
Renter median household income**
$68,086
Average household size of renter-occupied housing units**
2.37
Budd Lake, New Jersey Renter-occupied housing units by no. of bedrooms**
There are 633 rentals in Budd Lake, New Jersey with 1 bed making up the highest share of the market, at 72%. Units with No bedrooms, on the other hand, hold the lowest percentage (2%), amounting to 15 units. Overall, the median number of rooms in Budd Lake, New Jersey homes for rent is 3.8.
Budd Lake, New Jersey Renter-occupied units by age of householder**
Most condos for rent in Budd Lake, New Jersey are occupied by residents in the 25 - 34 years age group (38%), followed by those in the 55 - 59 years age group (17%). At the same time, people in the 60 - 64 years age group make up the lowest share of the local rental market – 4%.
Budd Lake, New Jersey Renter-occupied housing units by family type**
Budd Lake, New Jersey Renter-occupied housing units by the presence of own children**
A total of 562 apartments for rent in Budd Lake, New Jersey, or 64% of all rentals are family households. Additionally, 35% of rental homes include children under the age of 18 – that’s 306 units. All in all, the median size of a renter-occupied household in Budd Lake, New Jersey is 2.37.
Budd Lake, New Jersey Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 41% of the rental market. In contrast, residents with less than a high school degree reside in 3% of the homes for rent in Budd Lake, New Jersey.
Budd Lake, New Jersey Renter-occupied units by year structure built**
The highest share of Budd Lake, New Jersey apartment rentals, namely 32% or 279 units, were Built 1970 - 1979, followed by those Built 1950 - 1959 (18%, 156 units), and the ones Built 1960 - 1969 (15%, 135 units).
Budd Lake, New Jersey Renter-occupied units by year householder moved in**
Median year renter moved into unit 2016
Most Budd Lake, New Jersey renters (42%) moved in 2010 to 2017, while only 1% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Budd Lake, New Jersey condos for rent is 2016.
Budd Lake, New Jersey Renter-occupied housing units by vehicles available**
When it comes to transportation options, 47% of Budd Lake, New Jersey renters have 1 vehicle available per household, 38% of them have 2 vehicles available, and 10% have No vehicle available.
Budd Lake, New Jersey Means of transportation to work of householders living in renter-occupied housing units**
Budd Lake, New Jersey Geographical mobility in the past year for householders living in renter-occupied housing units**
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Budd Lake, New Jersey apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
