Franklin, NJ—07416
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Franklin, NJ
As of Oct '25, the median home price in Franklin, NJ is $370,000, with a year-over-year change of 0.4%. This indicates that home prices in Franklin, NJ are flat. 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 | $370,000 | 0.4% |
| Single Family | $389,000 | 1.6% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $308,000 | 2.0% |
3 Bed | $390,000 | 2.9% |
4 Bed | $506,000 | 2.4% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Franklin, NJ
As of July '25, Rentcast reports the average rent in Franklin, NJ is $2,120, with a year-over-year rent change of -6.2%. Per bedroom, the median rent as of July '25 in Franklin, NJ is 1-bedrooms: $1,470, 2-bedrooms: $2,310, 3-bedrooms: $2,720. The most common rental property sizes in Franklin, NJ are 1-bedroom and 2-bedroom, accounting for 54.0% and 27.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,000 | $2,120 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,500 | $1,470 |
| 2 Bed Rent | $2,300 | $2,310 |
| 3 Bed Rent | $2,600 | $2,720 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Franklin, NJ
As of Oct '25, Realtor.com reports that the median days on market for a home in Franklin, NJ is 22. This is a decrease of -37.0% 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 12.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $369,000 | -3.0% |
Listing Count | 17 | -4.0% |
| Listings as % of Homes | 1.0% | -4.0% |
Days on Market | 22 | -37.0% |
Demographics — Franklin, NJ
As of the latest ACS Survey released in 2023, Franklin, NJ has a population of 5,750, which has increased by 5.8% over the past 5 years. Franklin, NJ is a moderately popular place for families, as children make up 16.5% of the population. The area has a poorly educated workforce, with 21.8% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 5,750 | 5.8% |
% Under 18 | 16.5% | -26.0% |
% Seniors | 25.5% | 84.8% |
% WFH | 7.3% | 180.8% |
% w/ College Degree | 21.8% | -0.5% |
As of the latest ACS Survey released in 2023, Franklin, NJ is a predominantly white area, with 77.8% of the population identifying as white. The white population has shrunk by 14.2% in the last 5 years. The second most common race or ethnicity in Franklin, NJ is hispanic, making up 16.5% of the population. Foreign-born residents account for 8.7% of the population in Franklin, NJ, and this percentage has increased by 50.0% 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 | 77.8% | -14.2% |
% Black | 1.3% | -53.6% |
% Hispanic | 16.5% | 189.5% |
% Asian | 0.2% | -71.4% |
% Foreign Born | 8.7% | 50.0% |
Mortgage and Risk — Franklin, NJ
According to HUD data as of 2023, there were 92 mortgage originations in Franklin, NJ, of which 73.0% of loans were conventional mortgages. The average loan-to-value was 68.0%, with 36.0% above 90% LTV (very high). This implies large mortgage risk in Franklin, NJ. Investor activity is low, as 1.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 92 |
% Conventional Loans | 73.0% |
% Government Loans | 27.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Franklin, NJ
Franklin, NJ lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 88 |
Total Units Section 8 | 84 |
% Rentals under Section 8 | 8.4% |
% Occupied Section 8 | 100.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$60 | $1,500 | $1,440 |
| 2 Bedroom | -$570 | $2,300 | $1,730 |
| 3 Bedroom | -$410 | $2,600 | $2,190 |
| 4 Bedroom | N/A | N/A | $2,520 |
Affordability — Franklin, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.3 |
| Median Home Price | $370,000 |
| Median Household Income | $90,900 |