Lavallette's housing market is dominated by seasonal and second homes, a reflection of its identity as a summer resort. The stock ranges from traditional beach cottages to expanded shore houses and newer coastal builds, many featuring decks, porches, and outdoor living space. West Point Island, on the bay side, includes larger waterfront estates, while the ocean side holds beachfront homes with direct sand access. The borough's 1.2-square-mile footprint keeps inventory limited, and much of it is oriented toward vacation use and rentals rather than year-round occupancy. Buyers here are typically seeking a classic, low-key shore property with access to both ocean and bay.

As a compact barrier-island borough, Lavallette is defined less by distinct neighborhoods than by proximity to water. The oceanfront blocks along the east side offer beachfront homes and direct access to the sand, while the bayfront streets on the west side provide docks, boat slips, and calm-water access to Barnegat Bay. West Point Island is a notable enclave of larger waterfront and estate-style homes. The interior blocks between the two shorelines hold the town's traditional cottages and family homes, arranged on a simple grid that is easy to walk or bike. The entire borough is oriented around its two waterfronts and the central commercial corridor.

Lavallette's lifestyle is quintessential Jersey Shore summer living at a relaxed pace. Days center on the beach, with a wide ocean strand for swimming, sunbathing, and surfing, while the bay side draws boaters, kayakers, crabbers, and anglers. The borough maintains a family-oriented, low-key atmosphere, free of the boardwalk amusements found nearby, and its streets are easily navigable by bicycle. Summers bring a seasonal population and the energy of shore life; the off-season is quiet and local. Residents and visitors alike enjoy proximity to Seaside Heights' boardwalk to the south and the natural shoreline of Island Beach State Park just beyond it.

Lavallette is reached primarily via Route 35, which runs the length of the Barnegat Peninsula and connects the borough north to Bay Head, Point Pleasant, and the Garden State Parkway, and south to Seaside Heights and Island Beach State Park. The Garden State Parkway, a short drive inland across the bay bridges, provides the main route to the rest of New Jersey and the New York metropolitan area. Within the borough, the compact grid is highly walkable and bikeable, and many residents get around on foot or bicycle during the summer. Regional rail service is available on the mainland, and seasonal traffic is heaviest on summer weekends.

Recreation in Lavallette revolves around the water. The borough's ocean beach is its centerpiece, offering swimming, surfing, and sunbathing along a wide, well-maintained strand. On the bay side, Barnegat Bay provides calmer conditions for boating, kayaking, paddleboarding, fishing, and crabbing, with public boat ramps and moorings available. Just to the south, Island Beach State Park preserves miles of undeveloped barrier-island beach, dunes, and maritime forest, with swimming, surf fishing, and wildlife viewing. Bicycling is a popular way to explore the borough and neighboring shore communities, and the nearby boardwalk attractions of Seaside Heights add seasonal entertainment options.