Spring Lake, NJ Profile: Facts & Data

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Spring Lake, New Jersey - Basic Facts

The Borough of Spring Lake had a population of 2,722 as of July 1, 2023. Spring Lake ranks in the lower quartile for Diversity Index when compared to the other cities, towns and Census Designated Places (CDPs) in New Jersey. See peer rankings below.

The primary coordinate point for Spring Lake is located at latitude 40.1534 and longitude -74.0282 in Monmouth County. The formal boundaries for the Borough of Spring Lake encompass a land area of 1.33 sq. miles and a water area of 0.4 sq. miles. Monmouth County is in the Eastern time zone (GMT -5).

The Borough of Spring Lake has a C5 Census Class Code which indicates an active incorporated place that is independent of any county subdivision and serves as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.


Jump to... (On This Page!)
  1. Spring Lake 2023 Demographic Data
  2. Growth Rates for Spring Lake (Historical & 5-Year Forecast)
  3. Peer Comparisons (Rank and Percentile)
  1. Neighborhoods Demographics (Home Values, Household Income, etc.)
  2. New Jersey Research Tools (Easy Tools & Current Data)
  3. New Jersey Data Comparison Tool - 2023 Demographics
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Spring Lake, NJ Data & Demographics (As of July 1, 2023)

POPULATION

Total Population 2,722 (100%)
Population in Households 2,713 (99.7%)
Population in Families 2,239 (82.3%)
Population in Group Quarters1 9 ( 0.3%)
Population Density 2,043
Diversity Index2 18
 
 

INCOME

Median Household Income $116,816
Average Household Income $201,138
% of Income for Mortgage4 100%
Per Capita Income $90,674
Wealth Index5 270
Socioeconomic Status Index6 High (74.4)
 

HOUSING

Total HU (Housing Units) 2,110 (100%)
Owner Occupied HU 995 (47.2%)
Renter Occupied HU 232 (11.0%)
Vacant Housing Units 883 (41.8%)
Median Home Value $1,963,000
Average Home Value $1,793,317
Housing Affordability Index3 26
 

HOUSEHOLDS

Total Households 1,227
Average Household Size 2.21
Family Households 785
Average Family Size 3.00
NOTES
  1. Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
  2. The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
  3. The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
  4. The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
  5. The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.
  6. The Socioeconomic Index ranges from zero (lowest relative status) to 100 (highest relative status). This measure quantifies disparities in social position of an area's inhabitants and is built from a broad range of demographic, housing, and socioeconomic inputs. More information on this measure can be found in Esri's SEI tutorial.

GROWTH RATE / YEAR

2020-2023 2023-2028
Population -0.75% -0.34%
Households 0.05% 0.05%
Families   0.03%
Median Household Income   4.91%
Per Capita Income   3.24%
Owner Occupied HU   0.34%

Spring Lake, NJ - Peer Comparisons by Rank and Percentile

The table below compares Spring Lake to the other 700 incorporated cities, towns and CDPs in New Jersey by rank and percentile using July 1, 2023 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

Variable Description Rank Percentile
Total Population # 406 42nd
Population Density # 364 48th
Median Household Income # 208 70th
Housing Affordability Index # 26 4th
Per Capita Income # 48 93rd
Diversity Index # 679 3rd

Additional comparisons and rankings can be made with a VERY EASY TO USE New Jersey Census Data Comparison Tool.

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