Living in Silver Lake, New Jersey
Cost of living, income, home prices, rent and demographics of Silver Lake · Census data 2020–2024
Silver Lake has 284 residents with a median age of 57.8. The median household income is $107,083 (3% higher than the New Jersey median), the median home value is $293,200.
Silver Lake is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Silver Lake at a glance
- Population
- 284
- Median age
- 57.8State: 40.1
- Median household income
- $107,083State: $103,556
- Median home value
- $293,200State: $454,400
- Homeowners
- 93.2%
- Bachelor's degree or higher
- 31.7%
- Average commute
- 34 min
Is Silver Lake a good place to live?
Pros: Median household income 3% higher than the New Jersey median; home values 35% lower than the state median.
Cons: An average commute of 34 minutes; unemployment of 8.6%; a poverty rate of 15.8%.
The weather is best in May–June and August–September.
Cost of living in Silver Lake
Housing is the biggest part of the cost of living. In Silver Lake the median home value is $293,200, 12% lower than the U.S. median. Renters pay a median of — per month. Homeowners with a mortgage pay $1,938 a month in housing costs.
Silver Lake median household income
The median household income in Silver Lake is $107,083 and the income per person is $51,062. 15.8% of residents live below the poverty line (New Jersey: 9.7%).
Housing in Silver Lake: homes for sale and rent
- Housing units
- 154
- Owner-occupied
- 93.2%
- Renter-occupied
- 6.8%
- Vacant
- 4.5%Includes seasonal homes
- Median year built
- 1955
- Average household size
- 1.93
Silver Lake demographics
- Population
- 284
- Median age
- 57.8
- Under 18
- 15.5%
- 65 and older
- 32.7%
- Households
- 147
- Foreign-born
- 4.6%
- Veterans
- 4.6%Adults 18+
Hispanic or Latino can be of any race. Population history of Silver Lake ›
Education in Silver Lake
31.7% of adults 25 and older in Silver Lake have a bachelor's degree or higher (New Jersey: 43.6%), and 9.2% have a graduate or professional degree.
Jobs and commute in Silver Lake
- Unemployment rate
- 8.6%State: 6.3%
- Average commute
- 34 minState: 31 min
- Work from home
- 10.1%
- Drive alone
- 63%
- Public transit
- 0%
- Walk to work
- 0%
- Homes with broadband
- 98%
Silver Lake vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Silver Lake | 284 | $107,083 | $293,200 | — |
| Hope | 1,818 | $105,625 | $426,600 | $1,355 |
| Mount Hermon | 207 | $55,417 | $405,200 | — |
| Frelinghuysen | 2,137 | $122,727 | $455,500 | $1,683 |
| Blairstown | 5,741 | $124,231 | $406,300 | $1,694 |
| Marksboro | 193 | $141,563 | $463,900 | — |
| Liberty | 2,680 | $120,494 | $363,600 | $1,695 |
| Johnsonburg | 406 | $103,056 | $482,000 | — |
| Independence | 5,536 | $92,243 | $390,100 | $1,603 |
More for people moving to Silver Lake
Silver Lake ZIP code ›Weather and climate ›Living in Silver Lake: FAQ
What is the median household income in Silver Lake, NJ?
The median household income in Silver Lake is $107,083, 3% 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 Silver Lake?
The median home value in Silver Lake is $293,200, compared with $454,400 in New Jersey.
Is Silver Lake, NJ a good place to live?
Pluses: median household income 3% higher than the New Jersey median; home values 35% lower than the state median. Minuses: an average commute of 34 minutes; unemployment of 8.6%; a poverty rate of 15.8%.
What is the median age in Silver Lake?
The median age in Silver Lake is 57.8 years (New Jersey: 40.1).
How long is the commute in Silver Lake?
The average commute to work in Silver Lake is 34 minutes; 10.1% of workers work from home.
What is the unemployment rate in Silver Lake?
The unemployment rate in Silver Lake is 8.6% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Silver Lake?
31.7% of adults in Silver 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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