Market Overview
Home Prices in Mountain Lakes, NJ
The median home value in Mountain Lakes, NJ is $1,243,807 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 6.1% compared to a year ago and up 3.7% from two years prior.
Compared to the U.S. national median of $410,000, homes in Mountain Lakes are priced203% above average. Mountain Lakes is part of the New York-Newark-Jersey City, NY-NJ-PA metro area.
Over the past five years, Mountain Lakes home values have risen by approximately37.4%, reflecting strong long-term appreciation in this market.
Price History
Mountain Lakes Home Price Trend
City Comparison
Mountain Lakes vs. National Median
At $1,243,807, homes in Mountain Lakes cost 203% above the national median of $410,000. Buyers in Mountain Lakes should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Mountain Lakes?
20% Down Payment
$248,761
on $1,243,807
Monthly P&I
$6,487/mo
30-yr @ 6.8%
Total Monthly Est.
~$8,238/mo
incl. taxes & insurance
Income Needed
$329,520
gross annual (30% rule)
10% Down Option
$124,381
+ PMI applies
Loan Amount (20% dn)
$995,046
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Mountain Lakes, NJ?
The median home value in Mountain Lakes is $1,243,807 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 6.1% year-over-year.
How much have home prices changed in Mountain Lakes?
Over the past year, home values in Mountain Lakes have increased by 6.1%. Over five years, prices have risen approximately 37.4%.
How much do I need to earn to buy a home in Mountain Lakes?
To comfortably afford the median home price of $1,243,807 with a 20% down payment ($248,761) at today's rates (6.8%), you'd need a gross annual income of approximately $329,520. This assumes keeping total housing costs at or below 30% of gross income.
How does Mountain Lakes compare to the national average home price?
The national median home value is approximately $410,000. At $1,243,807, homes in Mountain Lakes are 203% above the national average.
What metro area is Mountain Lakes part of?
Mountain Lakes is part of the New York-Newark-Jersey City, NY-NJ-PA metropolitan area. Home prices and market conditions can vary across the broader metro region.