Silver Lake CDP, NJ Profile: Facts & Data

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Silver Lake CDP, New Jersey - Basic Facts

The Silver Lake Census Designated Place had a population of 374 as of July 1, 2020. Silver Lake CDP ranks in the lower quartile for Population Density and 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 Silver Lake CDP is located at latitude 40.9317 and longitude -74.9463 in Warren County. The formal boundaries for the Silver Lake Census Designated Place encompass a land area of 0.99 sq. miles and a water area of 0 sq. miles.

The Silver Lake Census Designated Place (GNIS ID: 2584026) has a U2 Census Class Code which indicates a census designated place without an official federally recognized name. It also has a Functional Status Code of "S" which identifies a statistical entity.

The Silver Lake Census Designated Place is located within Township of Hope, a minor civil division (MCD) of Warren County.


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Silver Lake CDP, NJ Data & Demographics (As of July 1, 2020)

POPULATION

Total Population 374 (100%)
Population in Households 374 (100.0%)
Population in Families 318 (85.0%)
Population in Group Quarters1 0
Population Density 436
Diversity Index2 25
 
 

INCOME

Median Household Income $98,471
Average Household Income $137,657
% of Income for Mortgage4 15%
Per Capita Income $52,229
Wealth Index5 189
 

HOUSING

Total HU (Housing Units) 155 (100%)
Owner Occupied HU 119 (76.8%)
Renter Occupied HU 24 (15.5%)
Vacant Housing Units 12 ( 7.7%)
Median Home Value $358,571
Average Home Value $424,174
Housing Affordability Index3 148
 

HOUSEHOLDS

Total Households 143
Average Household Size 2.62
Family Households 105
Average Family Size 3
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.

GROWTH RATE / YEAR

2010-2020 2020-2025
Population 0.16% -0.21%
Households 0.28% -0.14%
Families 0.78% -0.19%
Median Household Income   1.4%
Per Capita Income   2.3%
Owner Occupied HU   0.0%

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Silver Lake CDP, NJ - Peer Comparisons by Rank and Percentile

The table below compares Silver Lake CDP to the other 545 incorporated cities, towns and CDPs in New Jersey by rank and percentile using July 1, 2020 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 # 506 7th
Population Density # 498 9th
Median Household Income # 207 62nd
Housing Affordability Index # 410 75th
Per Capita Income # 173 68th
Diversity Index # 410 25th

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

Silver Lake CDP, NJ - Most Popular Things to Do

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