The typical owner-occupied home in Highland Lakes is worth about $295,300, 35% below the New Jersey median of $454,400 and 11% below the national median of $332,700. Owners pay a median $7,144 a year in property taxes, about 2.42% of their home's value, higher than the New Jersey rate of 2.11%. The median household earns $109,000 a year, so the median home costs 2.7 times the median income (4.4 times for New Jersey). 93% of occupied homes here are lived in by their owners, and 75% of those owners still have a mortgage.
Highland Lakes at a glance
| Highland Lakes | New Jersey | U.S. | |
|---|---|---|---|
| Median home value | $295,300 | $454,400 | $332,700 |
| Median property tax paid per year | $7,144 | $9,590 | $3,119 |
| Property tax as a share of value | 2.42% | 2.11% | 0.94% |
| Median household income | $109,000 | $103,556 | $80,734 |
| Homes lived in by their owners | 93% | 64% | 65% |
| Owner homes with a mortgage | 75% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $2,007 | $2,829 | $1,963 |
| Those costs as a share of the owners' income | 20.5% | 22.9% | 21.0% |
| Median rent | $2,169 | $1,720 | $1,413 |
| Rent as a share of renters' income | 51.0% | 30.9% | 30.6% |
| Median year homes were built | 1966 | 1970 | 1980 |
| Vacant homes | 16.5% | 7.5% | 10.1% |
| Population | 3,852 | 9,343,809 | 334,922,499 |
What a typical home costs per month in Highland Lakes
At this week's average 30-year rate of 7.11%, buying the median Highland Lakes home of $295,300 with 20% down costs about $2,308 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,800, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $98,904 for the 20%-down payment. That payment is 25% of the median Highland Lakes household income of $109,000; at that income and 20% down, the 28% guideline points to a home of about $325,000.
The median rent here is $2,169 a month, so owning the median home costs about $139 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $59,060 |
|---|---|
| Loan amount | $236,240 |
| Principal and interest | $1,589 |
| Property taxes (2.42% a year) | $596 |
| Homeowners insurance (our estimate, 0.5% a year) | $123 |
| PMI | $0 |
| Total per month | $2,308 |
Change the numbers in the calculator
| Down payment | $10,336 |
|---|---|
| Loan amount | $289,951 |
| Principal and interest | $1,951 |
| Property taxes (2.42% a year) | $596 |
| Homeowners insurance (our estimate, 0.5% a year) | $123 |
| FHA mortgage insurance | $131 |
| Total per month | $2,800 |
Change the numbers in the calculator
Questions about home buying in Highland Lakes
What is the median home value in Highland Lakes?
About $295,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Highland Lakes?
Homeowners pay a median $7,144 a year, which is about 2.42% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Highland Lakes?
For the median home with 20% down at 7.11%, the payment is about $2,308 a month. Keeping that under 28% of gross income takes about $98,904 a year.
More about Highland Lakes
- Mortgage Refinance in Highland Lakes
- Debt Relief in Highland Lakes
- Home Equity Loans in Highland Lakes
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data