Franklin Lakes, NJ Real Estate
According to census data in the year 2000 there were 3,395 housing units in Franklin Lakes.
This represents a 7.1% growth from 3,171 in 1990.
Of those housing units, 3,395 were located in either urbanized areas or urban clusters, and none were located in what is classified as a rural area.
Homeownership rate in Franklin Lakes is about 95.1%.
Franklin Lakes's vacancy rate, including seasonal lodging, is about 2.2%.
Average household size is 3.13 people.
The majority of houses, apartments or condos in Franklin Lakes were built after 1970.
Statistics
Housing Size
| Housing Units by Size |
|---|
| Studio Type | 0.20% |
| One Bedroom | 0.50% |
| Two Bedrooms | 6.60% |
| Three Bedrooms | 22.10% |
| Four Bedrooms | 41.10% |
| Five Bedrooms or more | 29.50% |
Owned Homes, Apartments and Condos
| Average Household Size | 3.18 |
| Median year structure was built | 1971 |
| Median Value of occupied units | $609,400 |
| Median Price asked for vacant units | $687,500 |
Rented Homes, Apartments and Condos
| Average Household Size | 2.33 |
| Median year structure was built | 1959 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 0% |
| Second Mortgage | 4.40% |
| Home Equity Loan | 10.40% |
| Simple Mortgage | 56.80% |
| Debt Free | 28.40% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 20.6% |
