Lake Como was originally formed as the borough of South Belmar by an Act of the New Jersey Legislature on March 12, 1924, from portions of Wall Township), based on the results of a referendum held on May 6, 1924. On November 2, 2004, voters in the borough approved changing the locality's name from South Belmar to Lake Como. The change became effective January 4, 2005.
There were 824 households out of which 22.9% had children under the age of 18 living with them, 31.3% were married couples living together, 10.8% had a female householder with no husband present, and 52.5% were non-families. 41.1% of all households were made up of individuals and 12.3% had someone living alone who was 65 years of age or older. The average household size was 2.19 and the average family size was 3.10.
In the borough the population was spread out with 21.8% under the age of 18, 8.5% from 18 to 24, 36.7% from 25 to 44, 20.2% from 45 to 64, and 13.0% who were 65 years of age or older. The median age was 36 years. For every 100 females there were 102.2 males. For every 100 females age 18 and over, there were 97.1 males.
The median income for a household in the borough was $47,566, and the median income for a family was $56,538. Males had a median income of $41,550 versus $27,708 for females. The per capita income for the borough was $27,111. About 4.3% of families and 7.5% of the population were below the poverty line, including 8.2% of those under age 18 and 5.3% of those age 65 or over.
The Mayor of Lake Como is Michael Ryan. Members of the Borough Council are Council President Brian Wilton, Kevin Lynch, Marni McFadden-Lee, Patricia Tzibrouk, Douglas E. Witte and Basil Wolfe.
Students attending public high school are assigned based on sending/receiving relationships to either Manasquan High School or Asbury Park High School. Manasquan High School also serves students from Avon-by-the-Sea, Brielle, Lake Como, Sea Girt, Spring Lake, Spring Lake Heights who attended Manasquan High School as part of sending/receiving relationships with their respective districts. Students may also attend Red Bank Regional High School, Marine Academy of Science and Technology, Academy of Allied Health & Science, Academy Charter School, High Technology High School, Communications High School or Biotechnology High School.
Students may also attend Academy Charter High School, located in Lake Como, which serves residents of Allenhurst, Asbury Park, Avon-by-the-Sea, Belmar, Bradley Beach, Deal, Interlaken and Lake Como, and accepts students on a lottery basis.