Median Income
$204,917
household / year
Median Home Value
$1,135,700
owner-occupied
Median Rent
$3,053
gross / month
Cost of Living
112
national avg = 100

Is Franklin Lakes, NJ a Good Place to Live?

Franklin Lakes is a small city of 11,007 in New Jersey, with a median household income of $204,917 and a 4.4% unemployment rate. Its cost of living index is 112 (US average = 100), which is 12% above the national average.

Strengths: Franklin Lakes stands out for lower-than-average crime, solid school ratings (A+), a well-educated population.

Trade-offs: Potential downsides include an above-average cost of living, high home prices, longer commutes. Whether Franklin Lakes is right for you depends on your priorities — the full breakdown is below.

All Franklin Lakes city data on this page comes from official government sources — the US Census Bureau, FBI, NCES, BEA, and NOAA — updated annually.

Cost of Living

Index: 112.5

Franklin Lakes's overall cost of living index is 112.5, where 100 represents the US national average. Living in Franklin Lakes costs roughly 12% more than the average American city.

Metric Franklin Lakes, NJ National Avg
Median Home Value $1,135,700 $244,900
Median Monthly Rent $3,053 $1,163
Homeownership Rate 88.0% 65.9%
Median Household Income $204,917 $74,755

Crime & Safety

Very Safe

Franklin Lakes's violent crime rate is 26.7 per 100,000 residents — 93% lower than the national average of ~380 per 100,000.

Violent Crime
26.7 /100k
Property Crime
373.3 /100k

Vertical marker = national average. Source: FBI UCR Program.

Schools & Education

Franklin Lakes is served primarily by Franklin Lakes School District. The student-to-teacher ratio is 8.1:1 (better than the national average of ~16:1).

Metric Franklin Lakes, NJ National Avg
School District Franklin Lakes School District —
Elementary Schools 3 —
Middle Schools 1 —
High Schools N/A —
Student/Teacher Ratio 8.1:1 16:1
Bachelor's Degree or Higher 77.3% 35.4%
High School Diploma or Higher 99.0% 91.1%

Weather & Climate

Franklin Lakes sees average highs of 37.7°F in January and 84.3°F in July, with 50.6 inches of annual precipitation and 28.1 inches of snow per year.

MetricFranklin Lakes, NJ
Average High — January37.7°F
Average High — July84.3°F
Annual Precipitation50.6"
Annual Snowfall28.1"

Demographics

MetricFranklin Lakes, NJNational Avg
Population11,007—
Median Age47.638.9
Unemployment Rate4.4%3.7%
Avg Commute Time35.7 min26 min
White (non-Hispanic)80.5%59.3%
Black or African American2.3%13.6%
Hispanic or Latino6.3%18.9%
Asian9.7%6.3%
Under 1824.8%22.2%
65 and over21.6%16.8%

Nearby Cities

Oakland, NJ 2 mi Pines Lake, NJ 3 mi North Haledon, NJ 3 mi Midland Park, NJ 3 mi Allendale, NJ 4 mi

ZIP Codes in Franklin Lakes

Franklin Lakes, NJ is covered by 2 ZIP codes:

07417 07481

Franklin Lakes vs Other Cities

Franklin Lakes, NJ vs Oakland, NJ Franklin Lakes, NJ vs Pines Lake, NJ Franklin Lakes, NJ vs North Haledon, NJ Franklin Lakes, NJ vs Midland Park, NJ Franklin Lakes, NJ vs Allendale, NJ

Frequently Asked Questions

Franklin Lakes's cost of living index is 112, where 100 is the national average. That puts Franklin Lakes roughly 12% above the national average in cost. The median home price is $1,135,700 and median rent is $3,053/month.
Franklin Lakes's violent crime rate is 26.7 per 100,000 residents — the national average is ~380 per 100,000. Property crime is 373.3 per 100,000 (national avg ~2,100). Data from the FBI Uniform Crime Reporting Program.
Public schools in Franklin Lakes are operated by Franklin Lakes School District. The district has 3 elementary, 1 middle, and several high schools. The student-to-teacher ratio is 8.1:1. 77.3% of adults 25+ hold a bachelor's degree or higher.
Franklin Lakes, NJ has a population of 11,007, a median household income of $204,917, and an unemployment rate of 4.4%. Whether it's right for you depends on your priorities — use the compare tool above to stack it against another city you're considering.
Franklin Lakes averages 37.7°F in January and 84.3°F in July. Annual rainfall is 50.6 inches with about 28.1 inches of snow per year. Based on NOAA 30-year climate normals (1991–2020).
Franklin Lakes, NJ is covered by 2 ZIP codes: 07417, 07481.
The population of Franklin Lakes, New Jersey is 11,007 with a median age of 47.6. Source: US Census ACS 5-Year Estimates.
Key numbers for living in Franklin Lakes: cost of living index 112 (100 = US average), median home $1,135,700, median household income $204,917, crime index 11 (100 = US average, lower is safer), schools rated A+. Whether these are benefits or drawbacks depends on where you're coming from — compare Franklin Lakes side by side with your current city to see the trade-offs.