Why Live in Lake Hiawatha
Lake Hiawatha, a neighborhood within Parsippany-Troy Hills Township, has evolved from a seasonal retreat to a year-round residential area. Despite its name, the original lake has mostly dried up, but nearby reservoirs and manmade lakes offer water activities. The housing market features a mix of colonial and ranch-style homes, with new constructions becoming more common. Homes are generally smaller and closer together compared to the national average, but more affordable than those in neighboring Lake Parsippany. The area is known for its highly-rated schools, including Northvail Elementary School, Central Middle School, and Parsippany Hills High School, which offer a range of extracurricular activities. Local attractions include the Lake Hiawatha Swim Club with its Olympic-size pool and Lake Hiawatha Park, which features play areas and a gazebo. Volunteers Park provides picnic spots, a skate park, and athletic fields. The neighborhood is walkable, with a variety of specialty dining options such as Indian and Asian cuisines, as well as local favorites like Howard’s Bagel and Lake Hiawatha Dairy. Major highways and a bus service to Manhattan make commuting convenient. While some areas are prone to flooding, the neighborhood remains a desirable location for families and multi-generational households.
Home Trends in Lake Hiawatha, NJ
On average, homes in Lake Hiawatha, NJ sell after 32 days on the market compared to the national average of 50 days. The median sale price for homes in Lake Hiawatha, NJ over the last 12 months is $508,762, up 12% from the median home sale price over the previous 12 months.
Median Sale Price
$508,762
Median Single Family Sale Price
$510,000
Median 2 Bedroom Sale Price
$833,250
Median 1 Bedroom Sale Price
$252,500
Average Price Per Sq Ft
$422
Number of Homes for Sale
17
Last 12 months Home Sales
78
Median List Price
$508,762
Median Change From 1st List Price
0%
Median Home Sale Price YoY Change
12%
