Lake Hiawatha, NJ

Above Avg · 112

New Jersey · Population 10,406 · Updated March 2026

$1,426
Median Rent / Month
$101,500
Median Income
$402,500
Median Home Value
$1,518
Owner Costs / Month

Affordability

How far your income goes in Lake Hiawatha

16.9%
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

$17,112
Annual Rent
$10,911
State Income Tax
$8,976
Property Tax (est.)

Cost of Living Overview

Lake Hiawatha is more expensive than the national average. Higher housing costs are typically the primary driver. With a cost index of 112 (where 100 equals the national median), Lake Hiawatha residents can expect to pay median rent of $1,426/month while earning a median household income of $101,500/year.

The median home value in Lake Hiawatha, NJ is $402,500, with typical monthly owner costs around $1,518 including mortgage, insurance, and taxes. The median rent-to-income ratio of 16.9% 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 Lake Hiawatha.

Frequently Asked Questions

Common questions about living costs in Lake Hiawatha

What is the cost of living in Lake Hiawatha, NJ?
The cost of living index in Lake Hiawatha, NJ is 112 (US average = 100). Median monthly rent is $1,426, median household income is $101,500/year, and the median home value is $402,500.
Is Lake Hiawatha, NJ affordable?
No, Lake Hiawatha is more expensive than the national average with a cost index of 112. The rent-to-income ratio is 16.9%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Lake Hiawatha, NJ?
The median gross rent in Lake Hiawatha, NJ is $1,426 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $17,112.
What is the median household income in Lake Hiawatha?
The median household income in Lake Hiawatha, NJ is $101,500 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%.