Why Live in Mountain Lakes
Mountain Lakes, located 20 miles northwest of Newark and 30 miles from Manhattan, is a picturesque neighborhood set against the backdrop of North Appalachia. The area is known for its dense canopies and storybook-like homes, which feature a blend of Arts and Crafts designs, including Tudor, prairie, Colonial, and Dutch Revival styles. The neighborhood is characterized by its eight lakes, two of which have lifeguarded beaches with snack shops and facilities, making them popular spots for swimming, fishing, canoeing, kayaking, paddle boarding, ice fishing, and ice skating. The lakes maintain a no-motor policy, ensuring a tranquil environment. Mountain Lakes also boasts five major parks and hosts annual events such as the Trout Derby, Mountain Lakes Day, and a Fourth of July celebration with fireworks. Dining options include Paul’s Family Diner, known for its retro fifties ambiance, and nearby shopping at Whole Foods Market and Farmers Market Denville. The neighborhood is served by highly rated schools: Wildwood Elementary School, Briarcliff Middle School, and Mountain Lakes High School, which offers over 50 clubs. Commuting to New York City is convenient via the NJ Transit train, shuttle bus, or a 30-mile drive to the George Washington Bridge and Lincoln Tunnel. However, the area is prone to flash flooding, particularly in the southern part of the borough, posing risks to property and safety during flood warnings.
Frequently Asked Questions
What is the average home price in Mountain Lakes, NJ?
Homes for sale in Mountain Lakes, NJ have an average home price of $1,280,218.
How many homes have sold over the last 12 months in Mountain Lakes, NJ?
49 homes have sold in Mountain Lakes, NJ over the last 12 months.
What are the most popular zip codes in Mountain Lakes, NJ?
How much do you need to make to afford a house in Mountain Lakes?
The median home price in Mountain Lakes is $1,175,000. If you put a 20% down payment of $235,000 and had a 30-year fixed mortgage with an interest rate of 6.77%, your estimated principal and interest payment would be $6,110 a month plus property taxes, HOA fees, home insurance, PMI, and utilities. Using the 28% rule, you would need to make at least $262K a year to afford the median home price in Mountain Lakes.
How are the schools in Mountain Lakes, NJ?
Home Trends in Mountain Lakes, NJ
On average, homes in Mountain Lakes, NJ sell after 33 days on the market compared to the national average of 50 days. The median sale price for homes in Mountain Lakes, NJ over the last 12 months is $1,175,000, up 23% from the median home sale price over the previous 12 months.
Median Sale Price
$1,175,000
Median Single Family Sale Price
$1,225,000
Median Townhouse Sale Price
$912,500
Average Price Per Sq Ft
$458
Number of Homes for Sale
9
Last 12 months Home Sales
49
Median List Price
$1,175,000
Median Change From 1st List Price
0%
Median Home Sale Price YoY Change
23%
