Silver Lake CDP (Essex County), New Jersey, NJ
Population 4,034 · New Jersey
About Silver Lake CDP (Essex County), New Jersey, NJ
Silver Lake CDP (Essex County), New Jersey is a small town located in New Jersey with a population of 4,034 residents according to the latest US Census Bureau American Community Survey data. The median household income is $86,615 per year, which is 15% above the national median of $75,149. The median age of 41.2 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Silver Lake CDP (Essex County), New Jersey features a median home value of $483,700, which is 98% above the national median of $244,900. This places Silver Lake CDP (Essex County), New Jersey in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $1,501, 29% above the national average of $1,163/month. Of the 1,620 total housing units, 61% are owner-occupied (857 units) and 39% are renter-occupied (553 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Silver Lake CDP (Essex County), New Jersey shows an unemployment rate of 2.8%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 10.4%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Silver Lake CDP (Essex County), New Jersey have an average one-way commute time of 38.1 minutes, suggesting many residents commute to jobs in a nearby metro area.
Education & Demographics
26.3% of Silver Lake CDP (Essex County), New Jersey residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 0.6% White, 0.0% Hispanic or Latino, 3.0% Black or African American, and 52.2% Asian residents, with 39.3% of the population being foreign-born.
Cost of Living in Silver Lake CDP (Essex County), New Jersey, NJ
Compared to national averages, Silver Lake CDP (Essex County), New Jersey has a median household income of $86,615 (15% above the national median of $75,149). Home values average $483,700, which is 98% above the national median. Monthly rent at $1,501 is 29% above the US average of $1,163. Within New Jersey, Silver Lake CDP (Essex County), New Jersey's income is 25% below the state average of $115,667, and home values are 3% above the state median of $469,644.
Why Live in Silver Lake CDP (Essex County), New Jersey, NJ?
Silver Lake CDP (Essex County), New Jersey offers a strong local economy with a median household income of $86,615, well above the national average, and a strong job market with an unemployment rate of just 2.8%, and a low poverty rate of 10.4%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $483,700. However, Silver Lake CDP (Essex County), New Jersey’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Silver Lake CDP (Essex County), New Jersey has a population of 4,034 with a median age of 41.2 years. Compare Silver Lake CDP (Essex County), New Jersey with other cities to see how it stacks up, or explore all cities in New Jersey.
Similar Cities Near Silver Lake CDP (Essex County), New Jersey
Cities in New Jersey with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Bordentown | 4,006 | $91,208 | $322,300 | Compare |
| Leisure Village West | 4,070 | $60,309 | $203,700 | Compare |
| Singac | 3,987 | $116,136 | $416,200 | Compare |
| Riverdale | 4,084 | $96,667 | $384,500 | Compare |
| The College of New Jersey | 4,103 | $8,493 | $0 | Compare |
| Fairview | 3,950 | $170,395 | $595,000 | Compare |
| Lawrenceville | 3,947 | $118,482 | $413,600 | Compare |
| Highland Lakes | 3,941 | $129,500 | $291,200 | 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 Silver Lake CDP (Essex County), New Jersey With Other Cities
Frequently Asked Questions about Silver Lake CDP (Essex County), New Jersey
What is the population of Silver Lake CDP (Essex County), New Jersey, NJ?
The population of Silver Lake CDP (Essex County), New Jersey, NJ is 4,034 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 Silver Lake CDP (Essex County), New Jersey?
The median household income in Silver Lake CDP (Essex County), New Jersey, NJ is $86,615 per year, which is 15% above the national median of $75,149.
What is the median home value in Silver Lake CDP (Essex County), New Jersey?
The median home value in Silver Lake CDP (Essex County), New Jersey, NJ is $483,700, which is 98% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Silver Lake CDP (Essex County), New Jersey?
The median monthly rent in Silver Lake CDP (Essex County), New Jersey, NJ is $1,501, which is 29% above the national average of $1,163/month.
What is the unemployment rate in Silver Lake CDP (Essex County), New Jersey?
The unemployment rate in Silver Lake CDP (Essex County), New Jersey, NJ is 2.8%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Silver Lake CDP (Essex County), New Jersey, NJ a good place to live?
Silver Lake CDP (Essex County), New Jersey offers above-average incomes, a competitive housing market, and a strong job market. With a population of 4,034 and a median age of 41.2, the city appeals to a broad range of residents.
How educated is Silver Lake CDP (Essex County), New Jersey, NJ?
26.3% of residents in Silver Lake CDP (Essex County), New Jersey aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Silver Lake CDP (Essex County), New Jersey?
Key cost-of-living indicators for Silver Lake CDP (Essex County), New Jersey, NJ: median home value is $483,700 (98% above national), median rent is $1,501/month, and median household income is $86,615. The home-value-to-income ratio is 5.6x, a moderate figure by national standards.
What is the poverty rate in Silver Lake CDP (Essex County), New Jersey?
The poverty rate in Silver Lake CDP (Essex County), New Jersey, NJ is 10.4%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Silver Lake CDP (Essex County), New Jersey, NJ?
Silver Lake CDP (Essex County), New Jersey's population is 0.6% White, 0.0% Hispanic or Latino, 3.0% Black or African American, 52.2% Asian, and 4.1% two or more races. 39.3% of residents are foreign-born.