Budd Lake is an unincorporated community and census-designated place located within Mount Olive Township, in Morris County, in the U.S. state of New Jersey. As of the 2020 United States census, the CDP's population was 9,784, its highest decennial census count ever and an increase of 816 from the 8,968 enumerated at the 2010 census, which in turn reflected an increase of 868 from the 8,100 counted in the 2000 census. Budd Lake was named for John Budd.