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Silver Lake

Silver Lake

Located in Essex County

$469 Average Price per Sq Ft
1 Home For Sale

Suburb seeing revitalization efforts

Silver Lake is a New Jersey suburb that offers popular local shops, diverse recreation options and several options for making the 13-mile commute to New York City. Split between the towns of Belleville and Bloomfield, this former farmland turned commuter suburb has been seeing revitalization efforts recently. Homes from the 1900s are being renovated and new businesses have been making their way to the area. “It’s going through a transformation right now,” says Louis Wnek Jr., a Realtor with Weichert Realtors, who’s been selling homes in the area for over 11 years. “They’re trying to attract a younger crowd from the New York area, and they’re really concentrated on building that area up. Ten years from now, it’s going to look a lot different.”

Multi-family homes from the $500,000s

Many of Silver Lakes’s 20th-century homes still stand, with some properties getting renovated or reconstructed. The area consists of multi-family homes with two to three bedrooms in each unit and single-family colonial-style and contemporary houses. Most include small lots, and some have driveways and garages. Silver Lake is a very walkable neighborhood with sidewalks and streetlights along most roads. Multi-family homes typically sell for $500,000 to $750,000, while single-family homes go for $350,000 to $600,000. There are also a few one and two-bedroom condo communities that range from $200,000 to $350,000.

Good grades for Bloomfield Schools

Kids in Silver Lake will attend schools in the Bloomfield Township School District. Students may start at Berkeley School with a B-minus from Niche before going to Bloomfield Middle, which also has a B-minus. They may then attend Bloomfield High, which earns a B-plus and has a student-teacher ratio of 12-to-1.

Close to rail stations, Garden State Parkway

Silver Lake offers plenty of ways to commute to New York City and New Jersey hubs. “It’s a target area for New York commuters and people who work at the Clara Maass hospital, which is right at the edge of Silver Lake,” says Wnek. There are two light rail stations in the neighborhood that run to Newark, and Watsessing Avenue station offers service to Hoboken and New York-Penn Station. Several bus lines run along Bloomfield Avenue and take residents to the rest of the surrounding Jersey area. The neighborhood is also bordered by Garden State Parkway, which runs from Paterson all the way down the Jersey Shore to Cape May.

Felton Playground, Branch Brook Park

The nearly 4-acre Felton Playground has baseball and softball diamonds with flood lights for night games and a small children’s play area. Halcyon Park is a small pocket park with a lily-pad covered pond and benches to watch the ducks. Situated on 70 acres, Watsessing Park is just outside the neighborhood and features multiple athletic fields. Branch Brook Park, America's first county park, has the most extensive collection of cherry blossoms in the country, over a dozen sports facilities and a nearly 5-mile trail. “A lot of people go play soccer here on the weekends,” adds Wnek. “Starting in April, you have the cherry blossoms come out. You’ll see a lot of people in the park taking pictures.” Many locals also come to participate in the free “Yoga in the Park” sessions that occur in the spring and summer.

Chains at Franklin Square Plaza

Franklin Square Plaza has a Stop & Shop grocery store and other chains. There’s also an Aldi on Watsessing Avenue and SuperFresh Food World on Belmont Avenue. Pat's Village Deli is a local shop and eatery that’s been open for over 85 years. More popular local restaurants are spread throughout the neighborhood, like Grill Master, which has been serving Portuguese-style barbeque since 2001. La Santa Bar & Grill is a Colombian restaurant and lounge with live entertainment on Fridays and Saturdays, and Belmont Tavern has been offering homestyle Italian eats for over 50 years.

Logan Soter-Reardon
Written By
Logan Soter-Reardon
Daniel Byrne
Photography Contributed By
Daniel Byrne
Stewart Taveras
Video By
Stewart Taveras

Interested in learning more about homes in this area? Reach out to Fernando Leyva, an experienced agent in this area.

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Schools

Source:
GreatSchools: The GreatSchools Rating helps parents compare schools within a state based on a variety of school quality indicators and provides a helpful picture of how effectively each school serves all of its students. Ratings are on a scale of 1 (below average) to 10 (above average) and can include test scores, college readiness, academic progress, advanced courses, equity, discipline and attendance data. We also advise parents to visit schools, consider other information on school performance and programs, and consider family needs as part of the school selection process. View GreatSchools Rating Methodology

Silver Lake Housing Trends

Housing Trends

Median List Price
$379,950
Median Sale Price
$360,000
Median Single Family Sale Price
$405,000
Median Townhouse Sale Price
$775,000
Median Change From 1st List Price
0%
Last 12 months Home Sales
7
Median Home Sale Price YoY Change
11%
Average Price Per Sq Ft
$469

Neighborhood Facts

Number of Homes for Sale
1
Months of Supply
1.70

Open Houses

  • 622 N 9th St, Newark, NJ 07107

    $475,000

    • 2 Beds
    • 2 Baths
    • 622 N 9th St
    • New 3 days ago

    This inviting single-family ranch features a formal dining room, living room with hardwood floors, and a private backyard perfect for outdoor enjoyment. The finished basement offers a full bathroom, summer kitchen, spacious family room, and three additional rooms, providing flexible living or work-from-home space. Conveniently located near schools, shopping, and public transportation with easy

    Xavier Vargas Group Twenty Six, LLC

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  • 16 Magnolia St, Belleville, NJ 07109

    $454,999

    • 3 Beds
    • 2 Baths
    • 16 Magnolia St
    • New 9 days ago

    Come and see this beautifully fully renovated ranch in Silver Lake. Features High Ceilings, New Roof, Kitchen, Baths, Furnace, Multi Zone Central Air, Recessed LED lighting, Fenced In Yard, Huge Multi Room Finished Walk Out Basement and more! This wonderful home is turn key and ready to move in. Nothing Is needed. Short walking distance to #4 school, house of warship and restaurants. This Home

    JAMES PALMA RAYMOND RHODES REAL ESTATE

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Homes for Sale

Homes for Rent

Distribution of Home Values

Source: Public Records

Average Home Value





Source: Public Records

Property Mix - Square Feet

Silver Lake Has More Renters

Demographics

Total Population
4,314
Median Age
39
Population under 18
22.8%
On par with the national average
23.8%
Population over 65
15%
On par with the national average
19.1%

Finances

Median Household Income
$44,104
Significantly below the national average
$71,702
Average Household Income
$61,059

Education and Workforce

High School Graduates
90.5%
College Graduates
19.9%
Below the national average
34.1%
Advanced Degrees
12.9%
% Population in Labor Force
57.3%
Below the national average
65.1%

Area Factors

Bikeable

Bike Score®®

52 / 100

Very Walkable

Walk Score®®

78 / 100
Source: Walk Score
Source: Walk Score

Walk Score® measures the walkability of any address. Transit Score® measures access to public transit. Bike Score® measures the bikeability of any address. CAP Index provides objective, accurate, and consistent data to help measure, compare, and mitigate crime risks.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. Our sources include: Accuweather, Public Records and Neustar. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
Silver Lake