Packanack Lake, NJ
Population 6,126 · New Jersey
About Packanack Lake, NJ
Packanack Lake is a small town located in New Jersey with a population of 6,126 residents according to the latest US Census Bureau American Community Survey data. The median household income is $196,343 per year, which is 161% above the national median of $75,149. The median age of 43.9 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Packanack Lake features a median home value of $594,000, which is 143% above the national median of $244,900. This places Packanack Lake in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $3,501, 201% above the national average of $1,163/month. Of the 1,987 total housing units, 96% are owner-occupied (1,904 units) and 4% are renter-occupied (83 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Packanack Lake shows an unemployment rate of 3.4%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 1.0%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Packanack Lake have an average one-way commute time of 28.4 minutes.
Education & Demographics
66.0% of Packanack Lake residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This significantly higher educational attainment rate often correlates with access to knowledge-economy jobs and higher household incomes. The community's demographic composition includes 0.0% White, 0.0% Hispanic or Latino, 1.6% Black or African American, and 5.3% Asian residents, with 9.4% of the population being foreign-born.
Cost of Living in Packanack Lake, NJ
Compared to national averages, Packanack Lake has a median household income of $196,343 (161% above the national median of $75,149). Home values average $594,000, which is 143% above the national median. Monthly rent at $3,501 is 201% above the US average of $1,163. Within New Jersey, Packanack Lake's income is 70% above the state average of $115,667, and home values are 26% above the state median of $469,644.
Why Live in Packanack Lake, NJ?
Packanack Lake offers a strong local economy with a median household income of $196,343, well above the national average, and a strong job market with an unemployment rate of just 3.4%, and a well-educated community where 66.0% of residents hold a bachelor’s degree or higher. Additionally, the city features a low poverty rate of 1.0%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $594,000. However, Packanack Lake’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Packanack Lake has a population of 6,126 with a median age of 43.9 years. Compare Packanack Lake with other cities to see how it stacks up, or explore all cities in New Jersey.
Similar Cities Near Packanack Lake
Cities in New Jersey with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Laurence Harbor | 6,130 | $89,500 | $327,900 | Compare |
| Oceanport | 6,130 | $156,196 | $685,800 | Compare |
| Woodcliff Lake | 6,097 | $211,233 | $901,800 | Compare |
| Little Silver | 6,096 | $220,746 | $870,700 | Compare |
| Mays Landing | 6,178 | $80,777 | $236,500 | Compare |
| Fair Haven | 6,182 | $237,132 | $943,300 | Compare |
| Bridgewater Center | 6,198 | $201,250 | $649,900 | Compare |
| Roseland | 6,211 | $160,644 | $640,600 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in New Jersey
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Packanack Lake With Other Cities
Frequently Asked Questions about Packanack Lake
What is the population of Packanack Lake, NJ?
The population of Packanack Lake, NJ is 6,126 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in New Jersey.
What is the median household income in Packanack Lake?
The median household income in Packanack Lake, NJ is $196,343 per year, which is 161% above the national median of $75,149.
What is the median home value in Packanack Lake?
The median home value in Packanack Lake, NJ is $594,000, which is 143% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Packanack Lake?
The median monthly rent in Packanack Lake, NJ is $3,501, which is 201% above the national average of $1,163/month.
What is the unemployment rate in Packanack Lake?
The unemployment rate in Packanack Lake, NJ is 3.4%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Packanack Lake, NJ a good place to live?
Packanack Lake offers above-average incomes, a competitive housing market, and a strong job market. With a population of 6,126 and a median age of 43.9, the city appeals to a broad range of residents.
How educated is Packanack Lake, NJ?
66.0% of residents in Packanack Lake aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Packanack Lake?
Key cost-of-living indicators for Packanack Lake, NJ: median home value is $594,000 (143% above national), median rent is $3,501/month, and median household income is $196,343. The home-value-to-income ratio is 3.0x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Packanack Lake?
The poverty rate in Packanack Lake, NJ is 1.0%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Packanack Lake, NJ?
Packanack Lake's population is 0.0% White, 0.0% Hispanic or Latino, 1.6% Black or African American, 5.3% Asian, and 1.6% two or more races. 9.4% of residents are foreign-born.