Franklin Lakes, NJ 07417 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Franklin Lakes, NJ—07417

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$1,487,000

8.0% YoY Growth

Household Income

$231,000

44.6% YoY Growth

Days on Market

18.0% Shorter YoY

Home Price Forecast

2.3%

Median Rent

$5,000

10.6% YoY Growth

1-Bed Rent

$2,500

N/A

2-Bed Rent

$4,450

3.6% YoY Growth

3-Bed Rent

$9,500

134.6% YoY Growth

Home Price Trends — Franklin Lakes, NJ

As of Dec '25, the median home price in Franklin Lakes, NJ is $1,487,000, with a year-over-year change of 8.0%. This indicates that home prices in Franklin Lakes, NJ are increasing. According to Zillow, the 1-year price projection is 2.3%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$1,487,000	8.0%
Single Family	$1,493,000	8.7%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Franklin Lakes, NJ

As of July '25, Rentcast reports the average rent in Franklin Lakes, NJ is $5,330, with a year-over-year rent change of 10.6%. Per bedroom, the median rent as of July '25 in Franklin Lakes, NJ is 1-bedrooms: $2,490, 2-bedrooms: $4,580, 3-bedrooms: $9,500, 4-bedrooms: $6,570. The most common rental property sizes in Franklin Lakes, NJ are 2-bedroom and 1-bedroom, accounting for 43.8% and 21.3% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$5,000	$5,330
Studio Rent	N/A	N/A
1 Bed Rent	$2,500	$2,490
2 Bed Rent	$4,450	$4,580
3 Bed Rent	$9,500	$9,500
4 Bed Rent	$5,400	$6,570

Loading chart...

% of Rental Stock

1 Bedroom

21.3%

2 Bedrooms

43.8%

3 Bedrooms

21.3%

4 Bedrooms

6.7%

5+ Bedrooms

6.7%

Property Listings — Franklin Lakes, NJ

As of Dec '25, Realtor.com reports that the median days on market for a home in Franklin Lakes, NJ is 69. This is a decrease of -28.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 0.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$3,200,000	5.0%
Listing Count	35	-1.0%
Listings as % of Homes	0.8%	-1.0%
Days on Market	85	-18.0%

Loading chart...

Demographics — Franklin Lakes, NJ

As of the latest ACS Survey released in 2023, Franklin Lakes, NJ has a population of 11,000, which has increased by 1.4% over the past 5 years. Franklin Lakes, NJ is a popular place for families, as children make up 25.4% of the population. The area has a highly educated workforce, with 78.8% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 29.2% reporting working from home.

Metric	Latest Census	YoY % Change
Population	11,000	1.4%
% Under 18	25.4%	13.9%
% Seniors	21.7%	3.8%
% WFH	29.2%	198.0%
% w/ College Degree	78.8%	19.6%

Loading chart...

As of the latest ACS Survey released in 2023, Franklin Lakes, NJ is a predominantly white area, with 74.1% of the population identifying as white. The white population has shrunk by 6.1% in the last 5 years. The second most common race or ethnicity in Franklin Lakes, NJ is asian, making up 11.7% of the population. Foreign-born residents account for 17.8% of the population in Franklin Lakes, NJ, and this percentage has decreased by 8.7% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

Race and Ethnicity

Metric	Latest Census	5-Year % Change
% White	74.1%	-6.1%
% Black	5.6%	133.3%
% Hispanic	7.4%	-10.8%
% Asian	11.7%	36.0%
% Foreign Born	17.8%	-8.7%

Loading chart...

Mortgage and Risk — Franklin Lakes, NJ

According to HUD data as of 2023, there were 176 mortgage originations in Franklin Lakes, NJ, of which 98.0% of loans were conventional mortgages. The average loan-to-value was 46.0%, with 1.0% above 90% LTV (normal). This implies small mortgage risk in Franklin Lakes, NJ. Investor activity is low, as 0.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	176
% Conventional Loans	98.0%
% Government Loans	2.0%
% Investor Loans	0.0%
% Second Loans	1.0%
% Cash Out Refinance	7.0%

Loading chart...

Rentals and Section 8 — Franklin Lakes, NJ

As of 2024, the percent of homes in Franklin Lakes, NJ under the Section 8 program is 11.0%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom units appear to be good home sizes to consider for Section 8 housing in Franklin Lakes, NJ, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.

Section 8 Market Size

Total Units under HUD	47
Total Units Section 8	47
% Rentals under Section 8	11.0%
% Occupied Section 8	96.0%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	$210	$2,500	$2,710
2 Bedroom	-$1,340	$4,450	$3,110
3 Bedroom	-$5,670	$9,500	$3,830
4 Bedroom	-$560	$5,400	$4,840

Franklin Lakes, NJ—07417

Key Metrics at a Glance

Home Price Trends — Franklin Lakes, NJ

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Franklin Lakes, NJ

% of Rental Stock

Property Listings — Franklin Lakes, NJ

Demographics — Franklin Lakes, NJ

Race and Ethnicity

Mortgage and Risk — Franklin Lakes, NJ

Mortgages

Rentals and Section 8 — Franklin Lakes, NJ

Section 8 Market Size

Section 8 Opportunity

Affordability — Franklin Lakes, NJ

Home Price to Income Ratio

Franklin Lakes, NJ — ZIP Code Boundary Map

Nearby ZIP Codes

Oakland, NJ

Wyckoff, NJ

North Haledon, NJ

Midland Park, NJ

Wayne, NJ

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	5.2
Median Home Price	$1,487,000
Median Household Income	$231,000

Franklin Lakes, NJ—07417

Key Metrics at a Glance

Home Price Trends — Franklin Lakes, NJ

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Franklin Lakes, NJ

% of Rental Stock

Property Listings — Franklin Lakes, NJ

Demographics — Franklin Lakes, NJ

Race and Ethnicity

Mortgage and Risk — Franklin Lakes, NJ

Mortgages

Rentals and Section 8 — Franklin Lakes, NJ

Section 8 Market Size

Section 8 Opportunity

Affordability — Franklin Lakes, NJ

Home Price to Income Ratio

Franklin Lakes, NJ — ZIP Code Boundary Map

Nearby ZIP Codes

Oakland, NJ

Wyckoff, NJ

North Haledon, NJ

Midland Park, NJ

Wayne, NJ

Frequently Asked Questions

What is the average home price in Franklin Lakes, NJ 07417?

How have home prices in Franklin Lakes, NJ 07417 changed over the past year?

What is the home price projection for Franklin Lakes, NJ 07417?

What are the demographics of Franklin Lakes, NJ 07417?

How long does it take homes to sell in Franklin Lakes, NJ 07417?

What is the average rent price in Franklin Lakes, NJ 07417?