Home Price Key
Affordable
Average
Expensive
These days, finding an affordable place to live in the Franklin Lakes area can be challenging. Home prices in Franklin Lakes are now at a median cost of $998,123, higher than the New Jersey average of $388,929.
The average cost of rent is $2,852/mo in Franklin Lakes, primarily driven by the current value of real estate in the Franklin Lakes area. While nearly 36.19% of residents own their homes outright in Franklin Lakes, 9.03% rent.
Housing affordability isn’t just about home prices, though. The average household income in Franklin Lakes is $16,403 per month. Households that rent pay about 17.39% of their income on rent here. Franklin Lakes's most expensive areas are in the southwestern regions, while the cheapest areas are in the northwestern parts of the city.
Nearby Cities
- Oakland, NJ: less expensive homes
- Wyckoff, NJ: less expensive homes
- North Haledon, NJ: less expensive homes
- Midland Park, NJ: less expensive homes
- Pompton Lakes, NJ: less expensive homes
- Allendale, NJ: less expensive homes
- Waldwick, NJ: less expensive homes
- Hawthorne, NJ: less expensive homes
- Wayne, NJ: less expensive homes
- Ramsey, NJ: less expensive homes
Cities with Similar Populations
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- Madras, OR: less expensive homes
- Lumberton, NJ: less expensive homes
- Lincoln City, OR: less expensive homes
- Lexington, NE: less expensive homes
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