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 Type | 0% |
| One Bedroom | 0.60% |
| Two Bedrooms | 9.60% |
| Three Bedrooms | 51.40% |
| Four Bedrooms | 31.40% |
| Five Bedrooms or more | 6.90% |
Owned Homes, Apartments and Condos
| Average Household Size | 2.69 |
| Median year structure was built | 1960 |
| Median Value of occupied units | $161,100 |
| Median Price asked for vacant units | $275,000 |
Rented Homes, Apartments and Condos
| Average Household Size | 3.48 |
| Median year structure was built | 1958 |
| Median Monthly Rent asked for vacant units | $950 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 0.50% |
| Second Mortgage | 8% |
| Home Equity Loan | 11.90% |
| Simple Mortgage | 58.20% |
| Debt Free | 21.40% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 22% |
