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ZipNumbers

New Jersey · Census place 24990

Franklin Lakes borough, NJ

Quick answer

Franklin Lakes borough has 11,011 residents, ranking #130 of 700 places in New Jersey. Median household income is $230,987, the median home is worth $1,217,500 and median gross rent runs $3,334 a month.

Population
11,011Franklin Lakes borough residents
Median household income
$230,987Past 12 months, inflation adjusted
Median home value
$1,217,500Owner-occupied units
Median gross rent
$3,334Rent plus utilities, monthly
Median age
46.9 yrsAll residents
Homeownership rate
88.3%Owner-occupied households

What the numbers mean in Franklin Lakes borough

Housing cost measured against local earnings.

A household earning the Franklin Lakes borough median would spend about 17.3% of gross income on the median rent. The 30% mark is the federal threshold for cost burden, so anything above it signals a stretched rental market. The median home costs 5.3× the median household income; nationally that ratio sits near 4.5×. Poverty affects 3.2% of residents and 88.3% of households own their home.

Source: US Census Bureau, ACS 2019-2023 5-year estimates · rates as published for 2019-2023 ACS 5-year

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