Budd Lake, NJ

Above Avg · 119

New Jersey · Population 10,106 · Updated March 2026

$1,326
Median Rent / Month
$113,036
Median Income
$437,200
Median Home Value
$1,884
Owner Costs / Month

Affordability

How far your income goes in Budd Lake

14.1%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in New Jersey

State-level tax rates that affect your costs

10.75%
Income Tax (Top Rate)
6.625%
Sales Tax
2.23%
Property Tax Rate

Estimated Annual Costs

$15,912
Annual Rent
$12,151
State Income Tax
$9,750
Property Tax (est.)

Cost of Living Overview

Budd Lake is more expensive than the national average. Higher housing costs are typically the primary driver. With a cost index of 119 (where 100 equals the national median), Budd Lake residents can expect to pay median rent of $1,326/month while earning a median household income of $113,036/year.

The median home value in Budd Lake, NJ is $437,200, with typical monthly owner costs around $1,884 including mortgage, insurance, and taxes. The median rent-to-income ratio of 14.1% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

New Jersey's top income tax rate of 10.75% is among the highest in the nation, adding to the overall cost burden. Combined with a 6.625% sales tax rate and 2.23% effective property tax rate, the overall tax environment is a factor in the total cost of living in Budd Lake.

Frequently Asked Questions

Common questions about living costs in Budd Lake

What is the cost of living in Budd Lake, NJ?
The cost of living index in Budd Lake, NJ is 119 (US average = 100). Median monthly rent is $1,326, median household income is $113,036/year, and the median home value is $437,200.
Is Budd Lake, NJ affordable?
No, Budd Lake is more expensive than the national average with a cost index of 119. The rent-to-income ratio is 14.1%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Budd Lake, NJ?
The median gross rent in Budd Lake, NJ is $1,326 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $15,912.
What is the median household income in Budd Lake?
The median household income in Budd Lake, NJ is $113,036 per year. This compares to the national median of approximately $80,000.
What are the taxes like in New Jersey?
New Jersey has a top income tax rate of 10.75%, a sales tax of 6.625%, and an effective property tax rate of 2.23%.