Franklin Lakes borough, New Jersey
CityPopulation: 11,011 (2023 estimate)
Located in New Jersey , New Jersey
Census Bureau data for Franklin Lakes borough from the American Community Survey. "Cities" in Census data include incorporated places, towns, villages, and census-designated places (CDPs) — all places where the Census collects community-level estimates.
Data: U.S. Census Bureau, ACS 5-Year Estimates, 2023 (released December 2024).
Quick Facts — Franklin Lakes borough
- What is the median household income in Franklin Lakes borough?
- The median household income in Franklin Lakes borough is $230,987 (U.S. Census Bureau ACS 5-Year Estimates, 2023).
- What is the poverty rate in Franklin Lakes borough?
- The poverty rate in Franklin Lakes borough is 3.4% (U.S. Census Bureau ACS 2023).
- What is the median home value in Franklin Lakes borough?
- $1,217,500 (U.S. Census Bureau ACS 2023).
- What is the average rent in Franklin Lakes borough?
- The median gross rent in Franklin Lakes borough is $3,334 per month (U.S. Census Bureau ACS 2023).
- What percentage of Franklin Lakes borough residents have a college degree?
- 78.9% of adults in Franklin Lakes borough hold a bachelor's degree or higher (U.S. Census Bureau ACS 2023).
Population
11,011
Median Income
$230,987
Median Home Value
$1,217,500
Poverty Rate
3.4%
Unemployment (ACS 2023)
2.3%
Median Age
46.0 yrs
Since 2019
Median Income:
+$58,221 (+33.7%)
Home Value:
+$271,600 (+28.7%)
Poverty Rate:
+3.2 pp (+1600%)
Bachelor's+:
+9.8 pp (+14.2%)
Unemployment:
-2.9 pp (-55.8%)
Demographics
Total Population
11,011
Median Age
46.0
Female
48.0%
Race & Ethnicity
Hispanic or Latino 7.3%
White (non-Hisp.) 74.2%
Black 5.6%
Asian 11.7%
Two or More 7.3%
Other 0.5%
Asian Subgroups (% of total pop.)
Indian
5.4%
Korean
3.9%
Chinese
2.2%
Filipino
0.2%
Hispanic Subgroups (% of total pop.)
Puerto Rican
1.0%
Cuban
0.9%
Source: U.S. Census Bureau, ACS 5-Year Estimates, 2023
Income & Poverty
Median Household Income
$230,987
±$31,578
+$129,937 vs. state
Per Capita Income
$332,037
Median Family Income
$250,001
Poverty Rate
3.4%
-3.6 pp vs. state
Child Poverty Rate
3.7%
Working-Age Poverty Rate
—
SNAP Recipients
1.8%
Social Security Income
—
Retirement Income
31.0%
Household Income Distribution
< $10k
2.1%
$15–25k
0.9%
$25–35k
1.1%
$35–50k
8.1%
$50–75k
5.4%
$75–100k
3.9%
$100–150k
12.2%
$150–200k
10.0%
$200k+
56.1%
Source: U.S. Census Bureau, ACS 5-Year Estimates, 2023
Housing
Total Housing Units
3,879
Owner-Occupied
88.3%
Renter-Occupied
11.7%
Vacancy Rate
2.8%
Median Home Value
$1,217,500
+$789,900 vs. state
Median Gross Rent
$3,334
Owner Cost Burden (30%+)
29.6%
Renter Cost Burden (30%+)
52.1%
Home Value Distribution
$50–100k
0.2%
$100–200k
0.5%
$200–300k
0.1%
$300–500k
1.7%
$500k–$1M
31.1%
$1M+
66.5%
Gross Rent Distribution
< $500
10.6%
$1–1.5k
2.5%
$2–2.5k
5.8%
$2.5–3.5k
16.2%
$3.5k+
64.9%
Vehicle Availability
No vehicle
2.1%
1 vehicle
19.3%
2 vehicles
41.6%
3+
37.0%
Housing Type
Single-fam. det.
89.1%
Single-fam. att.
3.0%
2–4 units
0.4%
5–19 units
0.5%
20+ units
5.2%
Mobile home
0.5%
Housing Age
Pre-1940
3.0%
1940–1969
1.3%
1970–1999
17.9%
2000–2009
14.5%
2010+
7.3%
Source: U.S. Census Bureau, ACS 5-Year Estimates, 2023
Education
High School or Higher
98.4%
Bachelor's or Higher
78.9%
+36.0 pp vs. state
Graduate Degree
36.2%
Some College / Associate
5.8%
Less Than High School
0.7%
Enrolled in School
—
Source: U.S. Census Bureau, ACS 5-Year Estimates, 2023
Employment
Labor Force Participation
57.7%
Unemployment Rate
2.3%
-3.9 pp vs. state
Work from Home
29.2%
Self-Employed
8.5%
Government Workers
8.2%
Private For-Profit
83.0%
Industry
Edu/Health
23.9%
Prof. Services
20.6%
Finance
17.1%
Manufacturing
7.6%
Retail
6.2%
Arts/Entmt.
5.2%
Wholesale
4.7%
Information
3.2%
Construction
2.9%
Transportation
2.3%
Public Admin
2.0%
Agriculture
0.2%
Occupation
Management
72.0%
Sales
18.2%
Food Prep
5.8%
Production
2.6%
Construction
1.5%
Source: U.S. Census Bureau, ACS 5-Year Estimates, 2023
Commute
Median Travel Time
36.5 min
Drove Alone
55.8%
Carpool
4.7%
Public Transit
6.3%
Work from Home
29.2%
Walked
1.2%
Bicycle
—
Source: U.S. Census Bureau, ACS 5-Year Estimates, 2023
Households & Families
Total Households
3,771
Avg. Household Size
2.00
Avg. Family Size
—
Married-Couple Households
80.2%
Single-Mother Households
—
Single-Father Households
—
Living Alone
—
Households with Children
37.7%
Multigenerational
—
Source: U.S. Census Bureau, ACS 5-Year Estimates, 2023
Age Distribution
Under 5
2.6%
5–9
7.0%
10–14
9.6%
15–19
9.5%
20–24
3.0%
25–34
6.1%
35–44
9.3%
45–54
15.5%
55–64
9.4%
65–74
6.4%
75–84
11.5%
85+
8.5%
Under 18: 25.4%
Working age (18–64): 74.6%
65 and over: 21.6%
Source: U.S. Census Bureau, ACS 5-Year Estimates, 2023
Social Characteristics
Immigration
Foreign Born
17.8%
Naturalized Citizen
81.2%
Speaks English Less Than Very Well
6.6%
Foreign-Born Origin
Asia
48.8%
Europe
29.9%
Latin America
13.6%
Africa
6.4%
Veterans & Disability
Veteran
3.5%
With a Disability
8.3%
Cognitive Difficulty
—
Ambulatory Difficulty
—
Health Insurance
Insured
98.5%
Uninsured
1.5%
Employer Insurance
—
Medicaid
—
Medicare
—
Technology & Mobility
Broadband Internet
96.8%
Has a Computer
98.7%
Same House 1 Year Ago
93.0%
Moved from Abroad
0.4%
Source: U.S. Census Bureau, ACS 5-Year Estimates, 2023