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City · 6,321 residents · Passaic County, New Jersey

Packanack Lake , New Jersey

In Packanack Lake, a typical home is worth $601,000 and typical rent is $3,501 a month. Compared with all of Passaic County, typical household income is 143% higher, typical rent is 116% higher, and the share of households that own their home is 43 points higher.

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  • Typical home value

    $601,000

    31% above the county

    32% above New Jersey

    • Packanack Lake
    • Passaic
    • New Jersey

  • Typical rent

    $3,501a month

    116% above the county

    104% above New Jersey

    • Packanack Lake
    • Passaic
    • New Jersey

  • Typical household income

    $213,103a year

    143% above the county

    106% above New Jersey

    • Packanack Lake
    • Passaic
    • New Jersey

  • Households that own their home

    96%

    43 points above the county

    32 points above New Jersey

    • Packanack Lake
    • Passaic
    • New Jersey

Source: U.S. Census Bureau, Average 2020–2024

Packanack Lake is in Passaic County. The FHA loan limit ($1,249,125 for a one-unit home), the fair market rents and the help on this page are those of all of Passaic County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Packanack Lake apart

What this place has that others do not, from public data, most unusual first.

  1. Packanack Lake has the highest typical rent of the 283 cities in New Jersey with more than 5,000 people: $3,501.

  2. 96% of households in Packanack Lake own their home, against 53% in Passaic County.

  3. The typical household income in Packanack Lake is $213,103, 143% more than in Passaic County as a whole ($87,522).

  4. Nearby, in Haledon, the typical rent is $1,750: 50% less than in Packanack Lake ($3,501).

  5. Nearby, in Haledon, the typical home value is $396,400: 34% less than in Packanack Lake ($601,000).

  6. The typical home in Packanack Lake is worth $601,000, 31% more than in Passaic County as a whole ($459,500).

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Packanack Lake

What homes there are in Packanack Lake, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

Detached houses, standing on their own, make up 100% of homes here, against 42% in Passaic County.

Year built

By age, homes in Packanack Lake look like those in Passaic County: the typical year built is 1955.

There is more room for a big family here: 93% of homes have 3 bedrooms or more, against 50% in Passaic County.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes
Monthly rent with utilities

With a mortgage

$3,598 a month

Passaic County: $3,014 a month

Owners with a mortgage

67%

Passaic County: 65%

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

The boundaries of Packanack Lake changed since 2015–2019, so the Census does not compare its figures from then and now. In Passaic County, the typical home value rose 34%.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasurePackanack LakePassaic CountyNew JerseyUnited States
Rental vacancy Unreliable estimate2.1%3.5%5.5%
Homeowner vacancy Unreliable estimate0.6%0.7%0.9%
More than one person per room Unreliable estimate7.7%4.0%3.4%
People per household 3.182.862.622.53
Drive alone 59%65%62%69%
Carpool Unreliable estimate11%8%9%
Public transit Unreliable estimate6%8%3%
Walk or bike Unreliable estimate4%3%3%
Work from home 32%12%17%15%
Other means Unreliable estimate2%2%2%
Typical commute 20 to 29 minutes20 to 29 minutes20 to 29 minutes20 to 29 minutes

Households in Packanack Lake are bigger: 3.18 people on average; in Passaic County, 2.86.

Many people here do not commute at all: 32% work from home; in Passaic County, 12%.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Packanack Lake?

A typical home is tight for the typical income

We start with a typical home in Packanack Lake, worth $601,000, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 30% of the typical household income in Packanack Lake, which is $213,103 a year. For that payment to be 28% of income, a household would need to earn about $229,082 a year.

The calculator's FHA and conventional loan limits are those of all of Passaic County.

Your numbers

Local data
$

Starts at the typical home value in Packanack Lake. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $21,035 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$5,345

at 7.18% · 30 years

Loan amount
$590,114
Total interest
$849,036
Paid off in
November 2056

Includes $10,149 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $4,972 a month

  • Tight

    $4,972 to $6,393 a month

    Your payment · 30%

  • Hard

    more than $6,393 a month

Compared with the typical household income in Packanack Lake ($213,103 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$5,345
Principal & interest$3,998
Property tax$831
Home insurance$250
FHA mortgage insurance (MIP)$266

You need at least $21,035 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Packanack Lake and Passaic County

Packanack Lake is in Passaic County, New Jersey. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Packanack Lake's own numbers

Typical home value
$601,000
Typical monthly rent
$3,501
Typical yearly household income
$213,103
Households that own their home
96%
Effective property tax rate
1.66%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Passaic County

FHA limit, one-unit home
$1,249,125
Conventional limit, one unit
$1,209,750
HUD fair market rent, 2 bedrooms
$2,282
Price change over 5 years (FHFA)
+58%
Homes in a high flood-risk zone
3.7%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Passaic County.

Everything about Passaic County

Buying

Buying a home in Packanack Lake

A typical home in Packanack Lake is worth $601,000: 31% above the county and 32% above New Jersey. With the typical household income in Packanack Lake ($213,103 a year), a typical home costs 2.8 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Packanack Lake 2.8 years
  • Passaic 5.3 years
  • New Jersey 4.4 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Passaic County

According to FHFA’s house price index, home prices in Passaic County rose 87% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Passaic County.

Period County New Jersey U.S.
Last year (2025) +6.8% +6.2% +2.9%
5 years (2020–2025) +58% +63% +47%
10 years (2015–2025) +87% +88% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Packanack Lake next to Passaic County, New Jersey and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Packanack Lake $601,000
  • Passaic $459,500
  • New Jersey $454,400
  • United States $332,700
Typical monthly rent
  • Packanack Lake $3,501
  • Passaic $1,621
  • New Jersey $1,720
  • United States $1,413
Typical yearly household income
  • Packanack Lake $213,103
  • Passaic $87,522
  • New Jersey $103,556
  • United States $80,734
See the full table
Packanack Lake next to Passaic County and New Jersey
Measure Packanack Lake Passaic County New Jersey U.S.
Typical home value $601,000 $459,500 $454,400 $332,700
Typical monthly rent $3,501 $1,621 $1,720 $1,413
Typical yearly household income $213,103 $87,522 $103,556 $80,734
Households that own their home 96% 53% 64% 65%
Typical yearly property tax $10,001 $10,001 $9,590 $3,119
Effective property tax rate 1.66% 2.18% 2.11% 0.94%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Passaic County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Packanack Lake

For a typical $601,000 home in Packanack Lake, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Packanack Lake's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $5,345a month

    Least cash to close
    Down payment
    $21,035
    Cash to close
    $39,065
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $266

  • Conventional, 5% down $5,235a month

    Down payment
    $30,050
    Cash to close
    $48,080
    Rate
    7.18%
    Mortgage insurance
    PMI · $285

  • Conventional, 20% down, no PMI $4,339a month

    Down payment
    $120,200
    Cash to close
    $138,230
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $4,895a month

    Down payment
    $90,150
    Cash to close
    $108,180
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Packanack Lake and for Passaic County.

Property tax

Effective rate in Packanack Lake

1.66%of the home’s value each year

$10,001 a year for the typical owner in Packanack Lake.

  • Packanack Lake 1.66%
  • Passaic 2.18%
  • New Jersey 2.11%

What New Jersey publishes ANCHOR, Senior Freeze and Stay NJ: one combined application (New Jersey Division of Taxation)

Exemptions and deadlines in New Jersey

Flood risk in Passaic County

FEMA does not publish these numbers by city: they are for all of Passaic County.

Homes in the high-risk zone
3.7%
3,719
Of those, with NFIP insurance
48%
County New Jersey U.S.
Homes in the high-risk zone 3.7% 6.7% 3.5%
Of those, with NFIP insurance 48% 63% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Packanack Lake

Typical rent in Packanack Lake is $3,501 a month: 116% above the county.

HUD publishes a fair market rent for all of Passaic County, by unit size. To pay the 2-bedroom one ($2,282 a month) without spending more than 30% of your income, you would need to earn $43.88 an hour working full time.

HUD fair market rent for all of Passaic County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $1,772 $34.08 $70,880
1 bedroom $1,987 $38.21 $79,480
2 bedrooms $2,282 $43.88 $91,280
3 bedrooms $2,771 $53.29 $110,840
4 bedrooms $3,497 $67.25 $139,880

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Packanack Lake

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Packanack Lake is in ZIP code 07470.

For 2 bedrooms it is $2,670: $388 more than the fair market rent for Passaic County ($2,282).

  • 07470 $2,670$3,240

1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Packanack Lake when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Free help

Help to buy or rent in Packanack Lake

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

There are 2 HUD-approved agencies with an office in Passaic County; none says it serves in Spanish.

A young man and a young woman look something up together on a laptop.

HUD counseling is free or low-cost

Assistance programs in Packanack Lake

No down payment, repair or rent-help program on our list is for Packanack Lake or Passaic County. The ones below are statewide in New Jersey: they work in Packanack Lake the same as in the rest of the state.

Which programs do I qualify for? All programs in New Jersey

Housing counselors near Packanack Lake

The HUD-approved agencies closest to the center of Packanack Lake, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Housing Authority of the City of Paterson

    60 Van Houten St, Paterson · 5 miles away

    • Budget and financial counseling
    • Pre-purchase counseling
    • and 1 more
    (973) 345-5085

  • Paterson Task Force for Community Action, Inc

    191 Market St, Paterson · 5 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 6 more
    973-279-2333-135

  • Credit.org - New Jersey Branch

    101 Eisenhower Pkwy, Roseland · 8 miles away · Spanish

    Also serves in other languages.

    • Mortgage delinquency and default
    • Budget and credit workshops
    • and 4 more
    (800) 431-8157

Every agency in Passaic County All counseling agencies in New Jersey

Help in Spanish near Packanack Lake

1 of the 3 agencies on this list says it serves in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Packanack Lake

HUD’s record names them for Packanack Lake or Passaic County. They run public housing or Section 8 vouchers. Ask whether their waiting list is open.

  • Passaic County Public Housing Agency Section 8 vouchers (973) 881-4370

3 other authorities have an office in Passaic County: see the list Source: HUD

Cities

Other cities in Passaic County

These cities are also in Passaic County. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Passaic County Housing in New Jersey
See 2 more cities in Passaic County, with prices and rents

Every city has its own page with prices, rents and help.

Nearby cities

The cities closest to Packanack Lake, with the typical home value.

Neighboring counties

If Passaic County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Packanack Lake.

All guides
A father and mother walk their son by the hand down the sidewalk.

Questions

Housing questions about Packanack Lake

Short answers with the numbers for Packanack Lake and all of Passaic County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Packanack Lake?

The typical home value in Packanack Lake is $601,000, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Passaic County it is $459,500.

How much does it cost to rent in Packanack Lake?

Typical rent in Packanack Lake is $3,501 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Passaic County is $2,282.

What is the FHA loan limit in Packanack Lake?

Packanack Lake uses the FHA limit for all of Passaic County (2026): $1,249,125 for a one-unit home and $2,402,625 for a four-unit home.

How much property tax do owners pay in Packanack Lake?

The typical homeowner in Packanack Lake pays $10,001 a year, according to the U.S. Census Bureau. That is 1.66% of the home’s value; in Passaic County, the rate is 2.18%.

Where can I find free help to buy or rent in Packanack Lake?

There are 2 HUD-approved counseling agencies with an office in Passaic County. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).