Franklin Park, NJ
Population 13,327 · New Jersey
About Franklin Park, NJ
Franklin Park is a mid-sized city located in New Jersey with a population of 13,327 residents according to the latest US Census Bureau American Community Survey data. The median household income is $111,508 per year, which is 48% above the national median of $75,149. The median age of 38.4 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Franklin Park features a median home value of $326,800, which is 33% above the national median of $244,900. This positions Franklin Park in a moderately priced market relative to the rest of the country. Median monthly rent is $2,074, 78% above the national average of $1,163/month. Of the 5,338 total housing units, 57% are owner-occupied (3,020 units) and 43% are renter-occupied (2,318 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Franklin Park shows an unemployment rate of 4.6%, which is near the national rate of 3.7%. The poverty rate stands at 8.2%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Franklin Park have an average one-way commute time of 33.1 minutes.
Education & Demographics
58.3% of Franklin Park 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 0.0% White, 1.8% Hispanic or Latino, 3.8% Black or African American, and 7.3% Asian residents, with 37.3% of the population being foreign-born.
Cost of Living in Franklin Park, NJ
Compared to national averages, Franklin Park has a median household income of $111,508 (48% above the national median of $75,149). Home values average $326,800, which is 33% above the national median. Monthly rent at $2,074 is 78% above the US average of $1,163. Within New Jersey, Franklin Park's income is 4% below the state average of $115,667, and home values are 30% below the state median of $469,644.
Why Live in Franklin Park, NJ?
Franklin Park offers a strong local economy with a median household income of $111,508, well above the national average, and a well-educated community where 58.3% of residents hold a bachelor’s degree or higher, and a low poverty rate of 8.2%, better than the national average.
Franklin Park has a population of 13,327 with a median age of 38.4 years. Compare Franklin Park with other cities to see how it stacks up, or explore all cities in New Jersey.
Similar Cities Near Franklin Park
Cities in New Jersey with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Woodland Park | 13,284 | $85,638 | $475,400 | Compare |
| Ridgefield Park | 13,167 | $98,184 | $459,400 | Compare |
| Florham Park | 13,134 | $147,714 | $722,700 | Compare |
| Eatontown | 13,537 | $90,174 | $454,300 | Compare |
| Echelon | 13,577 | $81,808 | $288,000 | Compare |
| New Providence | 13,577 | $162,877 | $734,300 | Compare |
| Fords | 13,052 | $116,250 | $414,100 | Compare |
| Mercerville | 13,693 | $125,678 | $330,500 | 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 Park With Other Cities
Frequently Asked Questions about Franklin Park
What is the population of Franklin Park, NJ?
The population of Franklin Park, NJ is 13,327 according to the latest US Census Bureau American Community Survey estimates. This makes it a mid-sized city in New Jersey.
What is the median household income in Franklin Park?
The median household income in Franklin Park, NJ is $111,508 per year, which is 48% above the national median of $75,149.
What is the median home value in Franklin Park?
The median home value in Franklin Park, NJ is $326,800, which is 33% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Franklin Park?
The median monthly rent in Franklin Park, NJ is $2,074, which is 78% above the national average of $1,163/month.
What is the unemployment rate in Franklin Park?
The unemployment rate in Franklin Park, NJ is 4.6%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Franklin Park, NJ a good place to live?
Franklin Park offers above-average incomes, a competitive housing market, and growing employment opportunities. With a population of 13,327 and a median age of 38.4, the city appeals to a broad range of residents.
How educated is Franklin Park, NJ?
58.3% of residents in Franklin Park 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 Park?
Key cost-of-living indicators for Franklin Park, NJ: median home value is $326,800 (33% above national), median rent is $2,074/month, and median household income is $111,508. The home-value-to-income ratio is 2.9x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Franklin Park?
The poverty rate in Franklin Park, NJ is 8.2%, 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 Park, NJ?
Franklin Park's population is 0.0% White, 1.8% Hispanic or Latino, 3.8% Black or African American, 7.3% Asian, and 27.6% two or more races. 37.3% of residents are foreign-born.