How much do homeowners pay a month in Budd Lake, NJ?

Name: Homeowner costs in Budd Lake, NJ, 2020–2024
Creator: US Census Bureau
License: https://www.census.gov/data/developers/about/terms-of-service.html

Homeowners with a mortgage in Budd Lake, NJ pay a median of $2,884 (±$187) a month in selected owner costs (2020–2024 American Community Survey).

Owners without a mortgage pay $1,248 (±$149).

71.4% of owned homes carry a mortgage.

In Budd Lake, the median monthly cost with a mortgage went from $2,872 in 2015–2019 to $2,884 in 2020–2024 (+0.4%).

Prices (CPI-U) rose 22.7% over the same years, so it rose more slowly than prices: a measurable decrease after inflation.

Figures last updated on November 12, 2026.

With a mortgage: $2,884 (±$187)
Without a mortgage: $1,248 (±$149)
Owned with a mortgage: 71.4%

Monthly owner costs in Budd Lake

Median selected monthly owner costs, estimate (90% margin of error)
	Budd Lake	Morris County	New Jersey	United States
With a mortgage	$2,884 (±$187)	$3,295 (±$38)	$2,829 (±$8)	$1,963
Without a mortgage	$1,248 (±$149)	$1,385 (±$21)	$1,232 (±$6)	$638
Owned homes with a mortgage	71.4% (±8.4 points)	64.5% (±0.9 points)	63.9% (±0.2 points)	60.6%
Median real estate taxes (a year)	$10,000 or more	$10,000 or more	$9,590 (±$25)	$3,119

Selected monthly owner costs are the mortgage payment, property taxes, insurance, utilities, fuels and any condominium or mobile-home fees.

In Budd Lake, the median cost with a mortgage is lower than in Morris County ($3,295).

It is not measurably different from New Jersey ($2,829).

It is higher than the national figure ($1,963).

In Morris County, Budd Lake ranks 18 of 27 places with a published estimate, from highest to lowest median monthly cost with a mortgage.

Statewide, it ranks 89 of 247.

Rankings use the estimates alone; where margins of error overlap, neighboring ranks may not truly differ.

How owner costs in Budd Lake have changed since 2015–2019

2015–2019 and 2020–2024 American Community Survey 5-year estimates
	2015–2019	2020–2024	Amount of change	Verdict
Median owner cost with a mortgage	$2,872 (±$314)	$2,884 (±$187)	+0.4%	Down after inflation
Median home value	$340,300 (±$18,275)	$456,100 (±$15,191)	+34.0%	Up after inflation

The Census Bureau publishes 2015–2019 dollars in 2019 dollars and 2020–2024 dollars in 2024 dollars.

Prices (the CPI-U, US Bureau of Labor Statistics) rose 22.7% between 2019 and 2024, so a dollar figure’s verdict compares the two after raising the earlier one by that much, using the Census Bureau’s test for a difference.

The two periods do not overlap, as the Census Bureau recommends for 5-year estimates.

Median monthly cost with a mortgage in places near Budd Lake

Nearest places with a published estimate, compared with Budd Lake
Place	Distance	Median monthly cost with a mortgage	Compared with this place
Budd Lake	—	$2,884 (±$187)	—
Flanders	2.5 mi	$3,189 (±$269)	Not measurably different
Netcong Borough	2.6 mi	$2,635 (±$112)	Lower
Stanhope Borough	3.3 mi	$2,686 (±$341)	Not measurably different
Ledgewood	3.7 mi	$2,922 (±$194)	Not measurably different
Byram Center	4.2 mi	$2,637 (±$215)	Not measurably different
Succasunna	4.4 mi	$3,096 (±$169)	Not measurably different
Landing	4.5 mi	$2,667 (±$167)	Not measurably different
Roxbury Township	4.6 mi	$2,909 (±$83)	Not measurably different

Nearby places with a measurably lower figure: Netcong Borough, NJ ($2,635).

Distance is measured in a straight line between the Census Bureau’s internal points for each place.

Median monthly cost with a mortgage across Morris County, place by place

Rank	Place	Median monthly cost with a mortgage
12	Parsippany	$3,145 (±$159)
13	Succasunna	$3,096 (±$169)
14	Mount Tabor	$3,045 (±$696)
15	Whippany	$2,988 (±$252)
16	Ledgewood	$2,922 (±$194)
17	Cedar Knolls	$2,915 (±$160)
18	Budd Lake	$2,884 (±$187)
19	White Meadow Lake	$2,866 (±$179)
20	Green Village	$2,816 (±$1,802)
21	Lake Telemark	$2,798 (±$425)
22	Lake Hiawatha	$2,766 (±$149)
23	Kenvil	$2,716 (±$198)
24	Oak Ridge	$2,706 (±$226)

Showing 13 of 27 places in Morris County, ranked from highest to lowest.

Budd Lake is a census-designated place: an unincorporated community the Census Bureau draws for statistics, with no municipal government of its own.

It lies inside Mount Olive Township, whose figures include it.

Survey years: 2020–2024 (American Community Survey 5-year estimates), compared with 2015–2019.

Margins of error are at the 90% confidence level.

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Questions about Budd Lake

What is the average mortgage payment in Budd Lake?

The Census Bureau publishes total owner costs rather than the mortgage alone: the median for owners with a mortgage in Budd Lake, NJ is $2,884 (±$187) a month, including taxes, insurance and utilities.

How much does it cost to own a paid-off home in Budd Lake?

Owners without a mortgage in Budd Lake pay a median of $1,248 (±$149) a month in taxes, insurance, utilities and fees.

Has the cost of owning a home in Budd Lake gone up?

In Budd Lake, the median monthly cost with a mortgage went from $2,872 in 2015–2019 to $2,884 in 2020–2024 (+0.4%).

Prices (CPI-U) rose 22.7% over the same years, so it rose more slowly than prices: a measurable decrease after inflation.

Sources

To check these figures in the Census Bureau’s own API, request the variables below from the 2024 ACS 5-year data profile (acs/acs5/profile) and detailed tables (acs/acs5) for Budd Lake CDP, New Jersey (place:08620, in state:34).

Each estimate (E or PE) has a margin of error beside it (M or PM).

The 2015–2019 figures are B25088_002E, B25088_002M, B25103_001E, B25103_001M, B25077_001E, B25077_001M from the 2019 release.

The API needs a free key.

Request a Census API key.

DP04_0101E, DP04_0101M, DP04_0109E, DP04_0109M, DP04_0091PE, DP04_0091PM, B25103_001E, B25103_001M

This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.

Figures are published by the US Census Bureau, HUD, the Bureau of Labor Statistics and the FBI; Seayora reproduces them and does not adjust them, except where a sentence says it compares dollar figures after inflation. They describe the whole place, not any one building or street, and are not an appraisal, a rent determination, a tax bill, a safety rating or legal advice.