Everything You Should Know Before Moving to Franklin Lakes, NJ
Considering a move to Franklin Lakes, NJ? This picturesque Bergen County suburb has a population of about 11,000 and is known for its upscale homes, top-rated schools, and safe environment—with crime rates among the lowest in the state. The median home price is $1,180,000 and the average rent is $3,150, reflecting the area’s high cost of living. Residents enjoy excellent education options, a strong median household income of $192,222, and beautiful seasonal weather, making Franklin Lakes a top choice for families seeking a serene and affluent community.
Demographics - Franklin Lakes, NJ
Demographics - Franklin Lakes, NJ
Franklin Lakes is a close-knit community of just over 11,000 residents, characterized by a median age of 47.1 and a predominantly White and Asian population. The area has a balanced gender ratio and about 12.5% of residents speak a language other than English at home, reflecting some cultural diversity within a primarily suburban setting.
Population:
11,116
Density:
1,070 per sq mi
Median Age:
47.1
Gender Ratio:
97 males per 100 females
Non-English Speakers Percentage:
12.5%
Ethnic Composition
White:
83.8%
Black:
1.2%
Asian:
12.0%
Others:
3.0%
Cost Of Living
What is the average cost of living in Franklin Lakes, NJ?
Living in Franklin Lakes comes with a high cost of living, with a median home value of $1,180,000 and average rent at $3,150 per month. Essentials like groceries, utilities, and transportation are also above national averages, making this an upscale area suited for those comfortable with premium expenses.
Median House Value:
$1,180,000
Gross Rent:
$3,150
Monthly Electricity Charges:
$150
Auto Insurance:
$2,050
House Owner Cost With Mortgage:
$4,200
House Owner Cost Without Mortgage:
$1,400
State Taxes:
Low:
1.4%
|
High:
10.75%
Cost Of Living Index:
170.5
Grocery:
134.2
Housing:
245.0
Utilities:
116.0
Transportation:
132.5
Health Care:
120.0
Miscellaneous:
115.0
Crime
Is Franklin Lakes, NJ a safe place to live?
Franklin Lakes is known for its exceptionally low crime rates, with just 38 violent crimes and 430 property crimes per 100,000 residents. The chance of experiencing violent crime is extremely low, making it one of the safest communities in New Jersey.
Violent Crimes Per 100k:
38
Property Crimes Per 100k:
430
Crime Index:
468
Chance Of Violent Crime:
1 in 2,950
Chance Of Property Crime:
1 in 260
Weather
What is the weather like in Franklin Lakes, NJ year-round?
Residents enjoy four distinct seasons, with warm summers reaching up to 84°F and chilly winters that dip to 24°F. The town receives about 49 inches of rainfall annually and enjoys sunshine 54% of the year, offering a classic northeastern climate ideal for seasonal activities.
Winter
Min:
24°F
Max:
39°F
Spring
Min:
43°F
Max:
66°F
Summer
Min:
64°F
Max:
84°F
Fall
Min:
46°F
Max:
68°F
Average Rainfall Inches:
49.0 inches
Sunny Days Percentage:
54%
Neighbors
Franklin Lakes boasts a highly educated and affluent population, with a median household income of $192,222 and a poverty rate of just 2.1%. Most residents have at least a bachelor’s degree, and the average commute time is around 37 minutes, reflecting a professional, family-oriented community.
Median Income:
$95,000
Household Income:
$192,222
Family Income:
$210,000
Per Capita Income:
$87,600
Income Male:
$118,000
Income Female:
$65,000
Poverty Rate:
2.1%
Non English Speakers:
12.5%
Rent:
$3,150
Unemployment Rate:
3.7%
Public Transport Usage:
6.8%
Commute Time:
36.8 minutes
Education
High School or Higher:
98.4%
Bachelors or More:
73.1%
Education
How are the schools in Franklin Lakes, NJ?
Franklin Lakes offers excellent public and private education, with low student-teacher ratios and proximity to respected colleges such as Ramapo College and Bergen Community College. The community values learning, as shown by high graduation rates and strong local school reputations.
Public Schools
Name:
Franklin Avenue Middle School
Street:
755 Franklin Ave
Phone:
201-891-0202
Students:
575
Student Teacher Ratio:
10.8
Name:
Colonial Road School
Street:
749 Colonial Rd
Phone:
201-337-0336
Students:
350
Student Teacher Ratio:
9.7
Private Schools
Name:
The Academy of the Most Blessed Sacrament
Street:
785 Franklin Lake Rd
Phone:
201-891-4250
Students:
200
Colleges
Name:
Ramapo College of New Jersey
City:
Mahwah
State:
NJ
Distance:
7 miles
Students:
5,900
Name:
Bergen Community College
City:
Paramus
State:
NJ
Distance:
10 miles
Students:
13,500
Healthcare
Quality healthcare is readily accessible, with major hospitals such as Valley Hospital and Hackensack University Medical Center nearby, and a high rate of insured residents at 97.4%. With 3.1 physicians per 1,000 people, residents benefit from robust medical services and emergency care options.
Major Hospitals
Name:
Valley Hospital
Address:
223 N Van Dien Ave, Ridgewood, NJ 07450
Phone:
(201) 447-8000
Type:
General & Surgical
Emergency Services:
Yes
Name:
Hackensack University Medical Center
Address:
30 Prospect Ave, Hackensack, NJ 07601
Phone:
(551) 996-2000
Type:
General & Surgical
Emergency Services:
Yes
Physicians Per 1000:
3.1
Health Insurance Coverage:
97.4%
Health Care Index:
81.2
Housing Market
What is the housing market like in Franklin Lakes, NJ?
The housing market in Franklin Lakes is dominated by owner-occupied homes, with a median price of $1,180,000 and a low rental vacancy rate. Home values continue to appreciate, underscoring the area’s desirability and stable investment potential.
Median Home Price:
$1,180,000
Average Rent For 2 Bedroom:
$3,150
Owner Occupied Rate:
95.0%
Rental Vacancy Rate:
2.8%
Home Appreciation Rate (1yr):
4.6%
New Construction Rate:
0.7%
Foreclosure Rate:
0.2%
DMV Information
Residents are served by the New Jersey Motor Vehicle Commission, which provides comprehensive vehicle and licensing services both online and at its main office in Trenton. The DMV offers convenient access to resources for new and existing drivers in the state.
State:
New Jersey
Department:
New Jersey Motor Vehicle Commission
Address:
225 E. State Street, Trenton, NJ 08666
Phone:
1-609-292-6500
Website:
Disclaimer: The information provided on this page is based on publicly available sources including AccuWeather, U.S. Census Bureau, local government data, and third-party partners such as Neustar. While we strive to ensure accuracy, all data is provided “as is” and should be independently verified before making any decisions. Movers.com makes no guarantees regarding the completeness or reliability of the information.