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.


Housing Size

Housing Units by Size
Studio Type0.20%
One Bedroom0.50%
Two Bedrooms6.60%
Three Bedrooms22.10%
Four Bedrooms41.10%
Five Bedrooms or more29.50%
As % of Housing Units

Owned Homes, Apartments and Condos

Average Household Size3.18
Median year structure was built1971
Median Value of occupied units$609,400
Median Price asked for vacant units$687,500

Rented Homes, Apartments and Condos

Average Household Size2.33
Median year structure was built1959

Owners Finance Status

Housing Finance
Second Mortgage & Equity Loan0%
Second Mortgage4.40%
Home Equity Loan10.40%
Simple Mortgage56.80%
Debt Free28.40%
As % of Housing Units
Median part of Monthly Household Income dedicated to covering home ownership costs20.6%