Home prices
The value of the median home in Silver Lake is $312,600. Compared to its nearby areas this is roughly $61,300 (16%) lower.In comparison to the rest of the country it is roughly $95,100 (43%) higher, and in comparison to the city of New York it is approximately $293,400 (48%) lower.
Rents
Silver Lake's median monthly rent is $1,231. This is about $175 (12%) lower in comparison to nearby areas.It is roughly $169 (15%) higher in comparison to the country as a whole, and it is about $212 (14%) lower compared to the city of New York.
Nearby places
East Orange
East Orange is roughly 1 mile southwest of Silver Lake. Its housing prices are significantly less expensive. The median home in East Orange is valued at $219,300, which comes out to $93,300 (42%) lower than Silver Lake. Rents there are a bit less expensive. The median monthly rent in East Orange is $1,114, which comes out to $117 (10%) lower than Silver Lake.
Glen Ridge
Glen Ridge is about 1 mile northwest of Silver Lake. Housing prices there are significantly more expensive. Glen Ridge's median home value is $653,400, which is $340,800 (52%) higher than Silver Lake. Rents there are a little more expensive. The median rent in Glen Ridge is $1,723 per month, which works out to $492 (28%) higher than Silver Lake.
East Newark
East Newark is roughly 2 miles southeast from Silver Lake. Housing prices there are similar. The median home price in East Newark is $299,700, which comes out to $12,900 (4%) lower than Silver Lake. Rent there is a little more expensive. In East Newark the median rent is $1,312 a month, which works out to $81 (6%) higher than Silver Lake.
North Arlington
North Arlington is roughly 2 miles east of Silver Lake. The real estate prices there are somewhat more expensive. The median home value in North Arlington is $363,400, which works out to $50,800 (13%) higher than Silver Lake. The rent there is a little more expensive. In North Arlington the median rent is $1,375 a month, which comes out to $144 (10%) higher than Silver Lake.
Harrison
Harrison is about 2 miles southeast from Silver Lake. Its housing prices are a bit more expensive. The median home in Harrison costs $333,700, which works out to $21,100 (6%) higher than Silver Lake. Rent there is a bit more expensive. Harrison's median monthly rent is $1,504, which comes out to $273 (18%) higher than Silver Lake.
