Franklin Park, NJ—08823
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Franklin Park, NJ
As of Oct '25, the median home price in Franklin Park, NJ is $414,000, with a year-over-year change of 3.9%. This indicates that home prices in Franklin Park, NJ are increasing. According to Zillow, the 1-year price projection is 1.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $414,000 | 3.9% |
| Single Family | $476,000 | 3.3% |
| Condos | $367,000 | 3.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $376,000 | 4.2% |
3 Bed | $520,000 | 4.0% |
4 Bed | $879,000 | 2.7% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Franklin Park, NJ
As of July '25, Rentcast reports the average rent in Franklin Park, NJ is $2,740, with a year-over-year rent change of 10.0%. Per bedroom, the median rent as of July '25 in Franklin Park, NJ is 1-bedrooms: $1,880, 2-bedrooms: $2,450, 3-bedrooms: $3,320, 4-bedrooms: $4,500. The most common rental property sizes in Franklin Park, NJ are 2-bedroom and 1-bedroom, accounting for 82.1% and 8.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,700 | $2,740 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,800 | $1,880 |
| 2 Bed Rent | $2,350 | $2,450 |
| 3 Bed Rent | $3,300 | $3,320 |
| 4 Bed Rent | $4,500 | $4,500 |
% of Rental Stock
Property Listings — Franklin Park, NJ
As of Oct '25, Realtor.com reports that the median days on market for a home in Franklin Park, NJ is 24. This is a decrease of -22.0% 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 21.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $372,000 | -7.0% |
Listing Count | 29 | 66.0% |
| Listings as % of Homes | 0.6% | 66.0% |
Days on Market | 24 | -22.0% |
Demographics — Franklin Park, NJ
As of the latest ACS Survey released in 2023, Franklin Park, NJ has a population of 8,870, which has decreased by -4.6% over the past 5 years. Franklin Park, NJ is a moderately popular place for families, as children make up 17.5% of the population. The area has a highly educated workforce, with 58.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 13.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 8,870 | -4.6% |
% Under 18 | 17.5% | -15.9% |
% Seniors | 14.8% | 27.6% |
% WFH | 13.1% | 111.3% |
% w/ College Degree | 58.2% | -13.5% |
As of the latest ACS Survey released in 2023, Franklin Park, NJ is a predominantly asian area, with 40.3% of the population identifying as asian. The asian population has grown by 13.5% in the last 5 years. The second most common race or ethnicity in Franklin Park, NJ is white, making up 22.9% of the population. Foreign-born residents account for 40.0% of the population in Franklin Park, NJ, and this percentage has increased by 1.0% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 22.9% | -26.6% |
% Black | 18.5% | -8.9% |
% Hispanic | 13.9% | 47.9% |
% Asian | 40.3% | 13.5% |
% Foreign Born | 40.0% | 1.0% |
Mortgage and Risk — Franklin Park, NJ
According to HUD data as of 2023, there were 175 mortgage originations in Franklin Park, NJ, of which 94.0% of loans were conventional mortgages. The average loan-to-value was 60.0%, with 19.0% above 90% LTV (elevated). This implies medium mortgage risk in Franklin Park, NJ. Investor activity is low, as 3.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 175 |
% Conventional Loans | 94.0% |
% Government Loans | 6.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Franklin Park, NJ
As of 2024, the percent of homes in Franklin Park, NJ under the Section 8 program is 2.2%. 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 and 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Franklin Park, NJ, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 31 |
Total Units Section 8 | 31 |
% Rentals under Section 8 | 2.2% |
% Occupied Section 8 | 98.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $280 | $1,800 | $2,080 |
| 2 Bedroom | $270 | $2,350 | $2,620 |
| 3 Bedroom | -$140 | $3,300 | $3,160 |
| 4 Bedroom | -$1,030 | $4,500 | $3,470 |
Affordability — Franklin Park, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.1 |
| Median Home Price | $414,000 |
| Median Household Income | $109,000 |