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City Report · NJ

Budd Lake

Pop. 10,650·130th most expensive in New Jersey·Budd Lake rents are up 25.8% over the past year
Median rent (all units)
$2,324/mo
Year-over-Year
+25.8%
Month-over-Month
+3.4%
vs US Median
+$359
Rising (Monthly)
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Most AffordableMost Expensive
Budd Lake · $2,324
More expensive than 73% of US cities · National median $1,965/mo
Affordability
24% of income
VERY AFFORDABLE
0%30% benchmark60%+

At $2,324/mo, rent takes about 24% of the local median household income, comfortably within the 30% benchmark.

Income to afford
$93,000/yr
Local median income
$114,154/yr
Based on the 30%-of-income rule using Budd Lake's median rent and household income. See the full affordability breakdown →
Medians by bedroom

Rent by unit size

Studio
$1,410
1 BR
$1,610
2 BR
$1,950
3 BR
$2,460
4 BR+
$2,790
Research median
$1,950/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$27,888/yr
At $2,324/mo median
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 25.8% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+25.8% YoY, +3.4% MoM), not inventory.
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Demographics

Who lives here

Budd Lake, NJ is majority owner-occupied, has a large share of families with children, has a median income above the national average, 45.3% of residents hold a bachelor's degree or higher.

Population
10,650
Median income
$114,154
Median age
36.9
Renters
25.2%
Age distribution
28.2%
19%
29.3%
12.4%
Under 1828.2%
18–3419%
35–5429.3%
55–6412.4%
65+11.1%
Gender
50.7%
49.3%
Male50.7%
Female49.3%
Race & ethnicity
63.1%
21.2%
White63.1%
Black9.2%
Hispanic21.2%
Asian7.4%
Education (25+)
28.9%
19.7%
45.3%
No HS diploma6.2%
HS diploma28.9%
Some college19.7%
Bachelor's+45.3%
Housing tenure
74.8%
25.2%
Owner74.8%
Renter25.2%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Budd Lake, NJ has changed in 5 years

Income
$97,728 → $114,154
up 16.8%
Population
9,971 → 10,650
up 6.8%
Renter share
23.4% → 25.2%
+1.8 pts
Bachelor's+
45.2% → 45.3%
+0.1 pts
Median age
37.5 → 36.9
-0.6 yrs

On the earnings side, the typical household in Budd Lake, NJ now reports about $114,154, up from $97,728 in 2021. The population has grown by 6.8% since 2021, moving from about 9,971 residents to roughly 10,650. Renters now make up 25.2% of households, compared with 23.4% five years ago.

Community

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View Budd Lake rent history (2015–2026) →
Salary vs rent

Can you afford rent in Budd Lake on your salary?

At $2,324/mo, how Budd Lake rent compares to typical pay (30% rule).

By apartment size

Budd Lake rent by bedroom count

Median rent for each apartment size in Budd Lake. Click any size for full breakdown.

Local insights

Tips for renters in Budd Lake

About renting in Budd Lake, NJ

Last updated: July 20, 2026

The median rent in Budd Lake is $2,324/mo as of July 2026. A studio apartment averages $1,410/mo while a 2-bedroom runs $1,950/mo. One-bedroom apartments average $1,610/mo and 3-bedroom units go for $2,460/mo.

At 24% of local median household income ($114,154/yr), Budd Lake ranks as affordable compared to the national benchmark of 30%. Rents have increased 25.8% over the past year.

FAQ

Frequently asked questions

Is Budd Lake an affordable city for renters?

Budd Lake is considered very affordable for renters. At $2,324/mo, rent takes approximately 24% of the local median household income ($114,154/yr). The standard benchmark is 30%. Budd Lake falls comfortably within that range.

How much income do you need to rent in Budd Lake?

To keep rent at or below 30% of gross income, you would need to earn at least $93,000/year (~$45/hour full-time) to afford the median rent of $2,324/mo in Budd Lake. The local median household income is $114,154/yr, meaning the typical Budd Lake household meets that threshold.

Is rent going up or down in Budd Lake?

Rent in Budd Lake has increased 25.8% over the past year as of July 2026, putting upward pressure on renter budgets.

How does Budd Lake rent compare to other cities in New Jersey?

Budd Lake is one of the more affordable cities in New Jersey for rent, ranking #130 out of 180 tracked cities at $2,324/mo.

Which nearby cities are cheaper to rent in than Budd Lake?

Several nearby cities have lower median rents than Budd Lake ($2,324/mo): Newton ($1,811/mo), Randolph ($2,049/mo), Hackettstown ($2,296/mo).

What percentage of Budd Lake residents rent vs. own?

According to Census data, approximately 25.2% of Budd Lake households are renters, while 74.8% are owner-occupied. Budd Lake leans toward homeownership, which can mean a smaller rental inventory.

How does Budd Lake rent compare to the national average?

Budd Lake's median rent of $2,324/mo is $359 (18%) above the US national median of $1,965/mo. Within New Jersey, it ranks #130 out of 180 tracked cities.
Income Affordability
24%
VERY AFFORDABLE

At $2,324/mo, rent takes ~24% of Budd Lake's median household income ($114,154/yr). The standard benchmark is 30%.

Budd Lake 24%Benchmark 30%
State income tax1.4–10.75%
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Budd Lake, NJ

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