Franklin Lakes, NJ
Population 11,011 · New Jersey
About Franklin Lakes, NJ
Franklin Lakes is a mid-sized city in New Jersey with a population of 11,011 residents. The median household income is $230,987 per year, which is above the national average. The median age in Franklin Lakes is 46.9 years.
Housing in Franklin Lakes has a median home value of $1,217,500 and median monthly rent of $3,334. Of the 3,879 total housing units, the majority are owner-occupied, with 3,328 owner-occupied and 443 renter-occupied units.
The unemployment rate in Franklin Lakes is 2.3% and the poverty rate is 3.2%. 78.9% of residents hold a bachelor's degree or higher. The average commute time is 36.5 minutes.
How Franklin Lakes Ranks in New Jersey
Cost of Living in Franklin Lakes, NJ
Compared to national averages, Franklin Lakes has a median household income of $230,987 (207% above the national median of $75,149). Home values average $1,217,500, which is 397% above the national median. Monthly rent at $3,334 is 187% above the US average of $1,163. Within New Jersey, Franklin Lakes's income is 100% above the state average of $115,667, and home values are 159% above the state median of $469,644.
Why Live in Franklin Lakes, NJ?
Franklin Lakes offers a strong local economy with a median household income of $230,987, well above the national average, and a strong job market with an unemployment rate of just 2.3%, and a well-educated community where 78.9% of residents hold a bachelor’s degree or higher. Additionally, the city features a low poverty rate of 3.2%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $1,217,500. However, Franklin Lakes’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Franklin Lakes has a population of 11,011 with a median age of 46.9 years. Compare Franklin Lakes with other cities to see how it stacks up, or explore all cities in New Jersey.
Similar Cities Near Franklin Lakes
Cities in New Jersey with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Pompton Lakes | 11,010 | $119,038 | $411,100 | Compare |
| Beachwood | 11,002 | $102,043 | $307,500 | Compare |
| Greentree | 11,024 | $144,426 | $419,800 | Compare |
| Little Ferry | 10,942 | $79,476 | $388,500 | Compare |
| Totowa | 10,919 | $114,177 | $507,700 | Compare |
| Lincoln Park | 10,901 | $119,000 | $419,500 | Compare |
| Manville | 10,870 | $93,872 | $321,100 | Compare |
| Oak Ridge | 10,860 | $118,718 | $417,300 | 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 Lakes With Other Cities
Frequently Asked Questions about Franklin Lakes
What is the population of Franklin Lakes, NJ?
The population of Franklin Lakes, NJ is 11,011 according to the latest Census data.
What is the median household income in Franklin Lakes?
The median household income in Franklin Lakes, NJ is $230,987 per year.
What is the median home value in Franklin Lakes?
The median home value in Franklin Lakes, NJ is $1,217,500.
What is the average rent in Franklin Lakes?
The median monthly rent in Franklin Lakes, NJ is $3,334.
What is the unemployment rate in Franklin Lakes?
The unemployment rate in Franklin Lakes, NJ is 2.3%.