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Medford Lakes, NJ Real Estate


According to census data in the year 2000 there were 1,555 housing units in Medford Lakes. This represents a 0.8% decline from 1,567 in 1990.

Of those housing units, 1,555 were located in either urbanized areas or urban clusters, and none were located in what is classified as a rural area.

Homeownership rate in Medford Lakes is about 94.2%. Medford Lakes's vacancy rate, including seasonal lodging, is about 1.8%. Average household size is 2.73 people.

The majority of houses, apartments or condos in Medford Lakes were built after 1960.

Statistics

Housing Size

Housing Units by Size
Studio Type0%
One Bedroom0.60%
Two Bedrooms9.60%
Three Bedrooms51.40%
Four Bedrooms31.40%
Five Bedrooms or more6.90%
As % of Housing Units
         

Owned Homes, Apartments and Condos

Average Household Size2.69
Median year structure was built1960
Median Value of occupied units$161,100
Median Price asked for vacant units$275,000

Rented Homes, Apartments and Condos

Average Household Size3.48
Median year structure was built1958
Median Monthly Rent asked for vacant units$950

Owners Finance Status

Housing Finance
Second Mortgage & Equity Loan0.50%
Second Mortgage8%
Home Equity Loan11.90%
Simple Mortgage58.20%
Debt Free21.40%
As % of Housing Units
         
Median part of Monthly Household Income dedicated to covering home ownership costs22%