Franklin Center, NJ
Population 5,770 · New Jersey
About Franklin Center, NJ
Franklin Center is a small town located in New Jersey with a population of 5,770 residents according to the latest US Census Bureau American Community Survey data. The median household income is $138,643 per year, which is 84% above the national median of $75,149. The median age of 56.4 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Franklin Center features a median home value of $565,200, which is 131% above the national median of $244,900. This places Franklin Center in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $2,588, 123% above the national average of $1,163/month. Of the 2,592 total housing units, 69% are owner-occupied (1,772 units) and 31% are renter-occupied (781 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Franklin Center shows an unemployment rate of 4.9%, which is near the national rate of 3.7%. The poverty rate stands at 5.6%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Franklin Center have an average one-way commute time of 35.4 minutes, suggesting many residents commute to jobs in a nearby metro area.
Education & Demographics
68.2% of Franklin Center residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This significantly higher educational attainment rate often correlates with access to knowledge-economy jobs and higher household incomes. The community's demographic composition includes 0.5% White, 0.3% Hispanic or Latino, 0.7% Black or African American, and 9.2% Asian residents, with 34.7% of the population being foreign-born.
Cost of Living in Franklin Center, NJ
Compared to national averages, Franklin Center has a median household income of $138,643 (84% above the national median of $75,149). Home values average $565,200, which is 131% above the national median. Monthly rent at $2,588 is 123% above the US average of $1,163. Within New Jersey, Franklin Center's income is 20% above the state average of $115,667, and home values are 20% above the state median of $469,644.
Why Live in Franklin Center, NJ?
Franklin Center offers a strong local economy with a median household income of $138,643, well above the national average, and a well-educated community where 68.2% of residents hold a bachelor’s degree or higher, and a low poverty rate of 5.6%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $565,200. However, Franklin Center’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Franklin Center has a population of 5,770 with a median age of 56.4 years. Compare Franklin Center with other cities to see how it stacks up, or explore all cities in New Jersey.
Similar Cities Near Franklin Center
Cities in New Jersey with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Jamesburg | 5,763 | $117,719 | $344,900 | Compare |
| Rutgers University-Busch Campus | 5,747 | $118,750 | $0 | Compare |
| Union Beach | 5,722 | $128,400 | $452,900 | Compare |
| Belmar | 5,861 | $92,859 | $771,400 | Compare |
| Hightstown | 5,869 | $107,431 | $333,200 | Compare |
| Norwood | 5,668 | $164,766 | $676,400 | Compare |
| Vauxhall | 5,875 | $106,962 | $354,300 | Compare |
| Old Tappan | 5,896 | $199,250 | $910,600 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in New Jersey
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Franklin Center With Other Cities
Frequently Asked Questions about Franklin Center
What is the population of Franklin Center, NJ?
The population of Franklin Center, NJ is 5,770 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in New Jersey.
What is the median household income in Franklin Center?
The median household income in Franklin Center, NJ is $138,643 per year, which is 84% above the national median of $75,149.
What is the median home value in Franklin Center?
The median home value in Franklin Center, NJ is $565,200, which is 131% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Franklin Center?
The median monthly rent in Franklin Center, NJ is $2,588, which is 123% above the national average of $1,163/month.
What is the unemployment rate in Franklin Center?
The unemployment rate in Franklin Center, NJ is 4.9%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Franklin Center, NJ a good place to live?
Franklin Center offers above-average incomes, a competitive housing market, and growing employment opportunities. With a population of 5,770 and a median age of 56.4, the city appeals to established professionals and retirees.
How educated is Franklin Center, NJ?
68.2% of residents in Franklin Center aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Franklin Center?
Key cost-of-living indicators for Franklin Center, NJ: median home value is $565,200 (131% above national), median rent is $2,588/month, and median household income is $138,643. The home-value-to-income ratio is 4.1x, a moderate figure by national standards.
What is the poverty rate in Franklin Center?
The poverty rate in Franklin Center, NJ is 5.6%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Franklin Center, NJ?
Franklin Center's population is 0.5% White, 0.3% Hispanic or Latino, 0.7% Black or African American, 9.2% Asian, and 15.4% two or more races. 34.7% of residents are foreign-born.