Living in Packanack Lake, New Jersey
Cost of living, income, home prices, rent and demographics of Packanack Lake · Census data 2020–2024
Packanack Lake has 6,321 residents with a median age of 41.3. The median household income is $213,103 (106% higher than the New Jersey median), the median home value is $601,000, the median rent is $3,501/month.
Packanack Lake at a glance
- Population
- 6,321
- Median age
- 41.3State: 40.1
- Median household income
- $213,103State: $103,556
- Median home value
- $601,000State: $454,400
- Median rent
- $3,501/moState: $1,720
- Homeowners
- 96.1%
- Bachelor's degree or higher
- 63.6%
- Average commute
- 28 min
Is Packanack Lake a good place to live?
Pros: Median household income 106% higher than the New Jersey median; an average commute of 28 minutes; unemployment of 3.5%; a poverty rate of 1.6%.
Cons: Home values 32% higher than the state median.
The weather is best in May–June and August–September.
Cost of living in Packanack Lake
Housing is the biggest part of the cost of living. In Packanack Lake the median home value is $601,000, 81% higher than the U.S. median. Renters pay a median of $3,501 per month, which is 21.6% of household income. Homeowners with a mortgage pay $3,598 a month in housing costs.
Packanack Lake median household income
The median household income in Packanack Lake is $213,103 and the income per person is $76,600. 1.6% of residents live below the poverty line (New Jersey: 9.7%).
Housing in Packanack Lake: homes for sale and rent
- Housing units
- 1,986
- Owner-occupied
- 96.1%
- Renter-occupied
- 3.9%
- Vacant
- 0%Includes seasonal homes
- Median year built
- 1955
- Average household size
- 3.18
Packanack Lake demographics
- Population
- 6,321
- Median age
- 41.3
- Under 18
- 24.1%
- 65 and older
- 17.4%
- Households
- 1,986
- Foreign-born
- 11%
- Veterans
- 4.1%Adults 18+
Hispanic or Latino can be of any race. Population history of Packanack Lake ›
Education in Packanack Lake
63.6% of adults 25 and older in Packanack Lake have a bachelor's degree or higher (New Jersey: 43.6%), and 23.6% have a graduate or professional degree.
Jobs and commute in Packanack Lake
- Unemployment rate
- 3.5%State: 6.3%
- Average commute
- 28 minState: 31 min
- Work from home
- 31.6%
- Drive alone
- 58.6%
- Public transit
- 4.7%
- Walk to work
- 1.3%
- Homes with broadband
- 96.5%
Packanack Lake vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Packanack Lake | 6,321 | $213,103 | $601,000 | $3,501 |
| Wayne | 53,756 | $153,056 | $612,700 | $2,164 |
| Preakness | 18,520 | $133,205 | $617,700 | $1,918 |
| Lincoln Park | 10,957 | $123,397 | $443,300 | $1,857 |
| Totowa | 10,959 | $113,563 | $559,300 | $2,072 |
| Pequannock | 15,641 | $120,666 | $553,200 | $2,753 |
| Pompton Plains | 10,971 | $117,959 | $539,000 | $3,129 |
| Haledon | 8,980 | $95,870 | $396,400 | $1,750 |
| Singac | 4,207 | $104,519 | $427,400 | $2,073 |
More for people moving to Packanack Lake
Packanack Lake ZIP code ›Weather and climate ›Living in Packanack Lake: FAQ
What is the median household income in Packanack Lake, NJ?
The median household income in Packanack Lake is $213,103, 106% higher than the New Jersey median of $103,556 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Packanack Lake?
The median home value in Packanack Lake is $601,000, compared with $454,400 in New Jersey.
How much is rent in Packanack Lake?
The median gross rent in Packanack Lake is $3,501 per month, about 21.6% of household income.
Is Packanack Lake, NJ a good place to live?
Pluses: median household income 106% higher than the New Jersey median; an average commute of 28 minutes; unemployment of 3.5%; a poverty rate of 1.6%. Minuses: home values 32% higher than the state median.
What is the median age in Packanack Lake?
The median age in Packanack Lake is 41.3 years (New Jersey: 40.1).
How long is the commute in Packanack Lake?
The average commute to work in Packanack Lake is 28 minutes; 31.6% of workers work from home.
What is the unemployment rate in Packanack Lake?
The unemployment rate in Packanack Lake is 3.5% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Packanack Lake?
63.6% of adults in Packanack Lake have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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