Franklin Lakes, NJ

Census Place

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2023 Population

11,011

0.0363% 1-year growth

US Senator

Cory Booker

Democratic Party

US Senator

Andy Kim

Democratic Party

2023 Median Age

46.9

1.47% 1-year decrease

2023 Poverty Rate

3.2%

0.32% 1-year decrease

2023 Median Household Income

$230,987

12.7% 1-year growth

2023 Median Property Value

$1.22M

7.2% 1-year growth

2023 Employed Population

4,894

5.61% 1-year growth

About

In 2023, Franklin Lakes, NJ had a population of 11k people with a median age of 46.9 and a median household income of $230,987. Between 2022 and 2023 the population of Franklin Lakes, NJ grew from 11,007 to 11,011, a 0.0363% increase and its median household income grew from $204,917 to $230,987, a 12.7% increase.

The 5 largest ethnic groups in Franklin Lakes, NJ are White (Non-Hispanic) (74.2%), Asian (Non-Hispanic) (11.7%), Two+ (Hispanic) (5.98%), Black or African American (Non-Hispanic) (5.11%), and Two+ (Non-Hispanic) (1.32%).

None of the households in Franklin Lakes, NJ reported speaking a non-English language at home as their primary shared language. This does not consider the potential multi-lingual nature of households, but only the primary self-reported language spoken by all members of the household.

96.6% of the residents in Franklin Lakes, NJ are U.S. citizens.

In 2023, the median property value in Franklin Lakes, NJ was $1.22M, and the homeownership rate was 88.3%.

Most people in Franklin Lakes, NJ drove alone to work, and the average commute time was 36.5 minutes. The average car ownership in Franklin Lakes, NJ was 2 cars per household.

United States New Jersey Bergen County, NJ New York-Newark-Jersey City, NY-NJ-PA Bergen County (Northwest)--Ramsey, Oakland & Franklin Lakes PUMA, NJ Passaic County (Central)--Hawthorne PUMA, NJ Passaic County (North)--Ringwood, Wanaque & Pompton Lakes PUMA, NJ

Population & Diversity

Franklin Lakes, NJ is home to a population of 11k people, from which 96.6% are citizens. As of 2023, 17.7% of Franklin Lakes, NJ residents were born outside of the country (1.95k people).

In 2023, there were 6.33 times more White (Non-Hispanic) residents (8.17k people) in Franklin Lakes, NJ than any other race or ethnicity. There were 1.29k Asian (Non-Hispanic) and 658 Two+ (Hispanic) residents, the second and third most common ethnic groups.

Population & Diversity

Citizenship

96.6%

2023 Citizenship

96%

2022 Citizenship

As of 2023, 96.6% of Franklin Lakes, NJ residents were US citizens, which is higher than the national average of 93.4%. In 2022, the percentage of US citizens in Franklin Lakes, NJ was 96%, meaning that the rate of citizenship has been increasing.

The following chart shows US citizenship percentages in Franklin Lakes, NJ compared to that of it's neighboring and parent geographies.

Diversity

Race and Ethnicity

The 3 largest ethnic groups in Franklin Lakes, NJ

White (Non-Hispanic)
8.17k ± 514
Asian (Non-Hispanic)
1.29k ± 304
Two+ (Hispanic)
658 ± 365

7.28%

Hispanic Population

802 people

7.28% of the people in Franklin Lakes, NJ are hispanic (802 people).

The following chart shows the 7 races represented in Franklin Lakes, NJ as a share of the total population.

Global Diversity

The PUMS dataset is not available at the Place level, so we are showing data for New Jersey.

Most Common Origin

India
273,669 ± 12,652 people
Dominican Republic
204,992 ± 10,992 people
Mexico
104,320 ± 7,885 people

In 2022, the most common birthplace for the foreign-born residents of New Jersey was India, the natal country of 273,669 New Jersey residents, followed by Dominican Republic with 204,992 and Mexico with 104,320.

Foreign-Born Population

17.7%

2023 Foreign-Born Population

1.95k people

17.3%

2022 Foreign-Born Population

1.91k people

As of 2023, 17.7% of Franklin Lakes, NJ residents (1.95k people) were born outside of the United States, which is higher than the national average of 13.8%. In 2022, the percentage of foreign-born citizens in Franklin Lakes, NJ was 17.3%, meaning that the rate has been increasing.

The following chart shows the percentage of foreign-born residents in Franklin Lakes, NJ compared to that of it's neighboring and parent geographies.

Military

Veterans

Most Common Service Period

Vietnam
119 ± 71
Korea
22 ± 35
World War II
22 ± 25

Franklin Lakes, NJ has a large population of military personnel who served in Vietnam, 5.41 times greater than any other conflict.

Economy

The economy of Franklin Lakes, NJ employs 4.89k people. The largest industries in Franklin Lakes, NJ are Professional, Scientific, & Technical Services (923 people), Health Care & Social Assistance (749 people), and Finance & Insurance (600 people), and the highest paying industries are Public Administration ($250,001), Finance & Insurance ($227,273), and Manufacturing ($161,121).

Males in New Jersey have an average income that is 1.36 times higher than the average income of females, which is $77,965. The income inequality in New Jersey (measured using the Gini index) is 0.489, which is higher than than the national average.

Employment

Occupations

4.89k

2023 Value

± 543

5.61%

1 Year growth

± 14.5%

From 2022 to 2023, employment in Franklin Lakes, NJ grew at a rate of 5.61%, from 4.63k employees to 4.89k employees.

The most common job groups, by number of people living in Franklin Lakes, NJ, are Management Occupations (1,146 people), Business & Financial Operations Occupations (639 people), and Sales & Related Occupations (588 people). This chart illustrates the share breakdown of the primary jobs held by residents of Franklin Lakes, NJ.

Unemployment Insurance Claims

Data is only available at the state level. Showing data for false.

This chart shows weekly unemployment insurance claims in New Jersey (not-seasonally adjusted) compared with the four states with the most similar impact.

The most recent data point uses Advance State Claims data, which can be revised in subsequent weeks.

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Industries

Employment by Industries

4.89k

2023 Value

± 543

5.61%

1 Year growth

± 14.5%

From 2022 to 2023, employment in Franklin Lakes, NJ grew at a rate of 5.61%, from 4.63k employees to 4.89k employees.

The most common employment sectors for those who live in Franklin Lakes, NJ, are Professional, Scientific, & Technical Services (923 people), Health Care & Social Assistance (749 people), and Finance & Insurance (600 people). This chart shows the share breakdown of the primary industries for residents of Franklin Lakes, NJ, though some of these residents may live in Franklin Lakes, NJ and work somewhere else. Census data is tagged to a residential address, not a work address.

Median Earnings by Industry

$162,117

Median earning men ± $31,206

$62,315

Median earning women ± $15,154

The industries with the best median earnings for men in 2023 are Educational Services, & Health Care & Social Assistance ($230,769), Finance & Insurance, & Real Estate & Rental & Leasing ($223,750), and Professional, Scientific, & Management, & Administrative & Waste Management Services ($211,250).

The industries with the best median earnings for women in 2023 are Public Administration ($175,909), Finance & Insurance, & Real Estate & Rental & Leasing ($119,609), and Wholesale Trade ($117,806).

Employment by Industry Sector

Data is only available at the state level. Showing data for New Jersey.

Y-Axis

2.27%

Year-over-year growth

Employment change between February 2022 and February 2023

As of February 2023, there are 4.24M people employed in New Jersey. This represents a 2.27% increase in employment when compared to February 2022.

Right after the beginning of the COVID-19 pandemic, during April 2020, a general dip can be seen across industry sectors, resulting in an overall decline in employment by 16.5%.

The following chart shows monthly employment numbers for each industry sector in New Jersey.

Education

Completions

Awarded Degrees over Time

The graph shows the evolution of awarded degrees by degrees. Under the paragraphs, the average number of awarded degrees by university in each degree is shown.

Working Population

Educational Pyramid

Data is only available at the state level. Showing data for New Jersey.

Measure

In 2022, 1.15% of men over 25 years of age had not completed any academic degree (no schooling), while 1.13% of women were in the same situation.

This visualization shows the gender distribution of the population according to the academic level reached.

Educational Attainment

Data is only available at the state level. Showing data for New Jersey.

Race

The most common educational levels obtained by the working population in 2022 were High School or Equivalent (1.92M), Bachelors Degree (1.77M), and Some college (1.3M).

This visualization illustrates the percentage distribution of the population according to the highest educational level reached. You can filter the data by race by using the selector above.

Housing & Living

The median property value in Franklin Lakes, NJ was $1.22M in 2023, which is 4.01 times larger than the national average of $303,400. Between 2022 and 2023 the median property value increased from $1.14M to $1.22M, a 7.2% increase. The homeownership rate in Franklin Lakes, NJ is 88.3%, which is approximately the same as the national average of 65%.

People in Franklin Lakes, NJ have an average commute time of 36.5 minutes, and they drove alone to work. Car ownership in Franklin Lakes, NJ is approximately the same as the national average, with an average of 2 cars per household.

Housing

Property

$1.22M

Median Property Value 2023

±$81,513

$3,328

Median Property Taxes

±$335

The following chart display owner-occupied housing units distributed between a series of property tax buckets compared to the national averages for each bucket. In Franklin Lakes, NJ the largest share of households pay taxes in the $3k+ range.

The chart underneath the paragraph shows the property taxes in Franklin Lakes, NJ compared to it's parent and neighbor geographies.

Rent vs Own

88.3%

Homeownership

2023

60.8%

Homeowners with Mortgage

2023

In 2023, 88.3% of the housing units in Franklin Lakes, NJ were occupied by their owner. This percentage grew from the previous year's rate of 88%.

This chart shows the percentage of owner in Franklin Lakes, NJ compared it's parent and neighboring geographies.

Equity

Income by Location

Use the dropdown to filter by race/ethnicity.

Race/Ethnicity

Highest Median Household Income (Total)

Census Tract 202
Census Tract 201

The following map shows all of the places in Franklin Lakes, NJ colored by their Median Household Income (Total).

Household Income

Please note that the buckets used in this visualization were not evenly distributed by ACS when publishing the data.

$230,987

Median Household Income

± $31,578

3.77k

Number of Households

± 405

In 2023, the median household income of the 3.77k households in Franklin Lakes, NJ grew to $230,987 from the previous year's value of $204,917.

The following chart displays the households in Franklin Lakes, NJ distributed between a series of income buckets compared to the national averages for each bucket. The largest share of households have an income in the $200k+ range.

Wage Distribution

The closest comparable wage GINI for Franklin Lakes, NJ is from New Jersey.

0.489

2022 Wage GINI in New Jersey

0.49

2021 Wage GINI in New Jersey

In 2022, the income inequality in New Jersey was 0.489 according to the GINI calculation of the wage distribution. Income inequality had a 0.278% decline from 2021 to 2022, which means that wage distribution grew somewhat more even. The GINI for New Jersey was higher than than the national average of 0.478. In other words, wages are distributed less evenly in New Jersey in comparison to the national average.

This chart shows the number of workers in New Jersey across various wage buckets compared to the national average.

Transportation

Commuter Transportation

Most Common Commute in 2023

Drove Alone (55.8%)
Worked At Home (29.2%)
Public Transit (6.34%)

In 2023, 55.8% of workers in Franklin Lakes, NJ drove alone to work, followed by those who worked at home (29.2%) and those who used public transit to get to work (6.34%).

The following chart shows the number of households using each mode of transportation over time, using a logarithmic scale on the y-axis to help better show variations in the smaller means of commuting.

Commute Time

36.5 minutes

Average Travel Time

Using averages, employees in Franklin Lakes, NJ have a longer commute time (36.5 minutes) than the normal US worker (26.6 minutes). Additionally, 6.06% of the workforce in Franklin Lakes, NJ have "super commutes" in excess of 90 minutes.

The chart below shows how the median household income in Franklin Lakes, NJ compares to that of it's neighboring and parent geographies.

Car Ownership

2 cars

Average Number

The following chart displays the households in Franklin Lakes, NJ distributed between a series of car ownership buckets compared to the national averages for each bucket. The largest share of households in Franklin Lakes, NJ have 2 cars.

Poverty

Poverty & Diversity

3.2% of the population for whom poverty status is determined in Franklin Lakes, NJ (352 out of 11k people) live below the poverty line, a number that is lower than the national average of 12.4%. The largest demographic living in poverty are Males 65 - 74, followed by Females 65 - 74 and then Females 45 - 54.

The most common racial or ethnic group living below the poverty line in Franklin Lakes, NJ is White, followed by Asian and Two Or More.

The Census Bureau uses a set of money income thresholds that vary by family size and composition to determine who classifies as impoverished. If a family's total income is less than the family's threshold than that family and every individual in it is considered to be living in poverty.

Social Needs

Data only available at the state level.

Most prevalent states

California
35,798 individuals
New York
5,087 individuals
Florida
4,915 individuals

In 2017, California had the highest estimated number of chronically homeless individuals in the nation, at 35,798. New York has the second highest (5,087), followed by Florida (4,915).

The following map shows the estimated number of chronically homeless individuals by state over multiple years.

Health

98.5% of the population of Franklin Lakes, NJ has health coverage, with 57.7% on employee plans, 2.26% on Medicaid, 17.7% on Medicare, 20.7% on non-group plans, and 0.136% on military or VA plans.

Primary care physicians in Bergen County, NJ see 838 patients per year on average, which represents a 0.239% increase from the previous year (836 patients). Compare this to dentists who see 755 patients per year, and mental health providers who see 345 patients per year.

Coverage

Patient to Clinician Ratios

Data is only available at the country level. Showing data for Bergen County, NJ.

838 to 1

Patient to Primary Care Physician Ratio in Bergen County, NJ

Primary care physicians in Bergen County, NJ see an average of 838 patients per year. This represents a 0.239% increase from the previous year (836 patients).

The following chart shows how the number of patients seen by primary care physicians has been changing over time in Bergen County, NJ in comparison to its neighboring geographies.

Health Care Diversity

In 2023, insured persons according to age ranges were distributed in 27.7% under 18 years, 10% between 18 and 34 years, 40.6% between 35 and 64 years, and 21.6% over 64 years.

By gender, of the total number of insured persons, 51.7% were men and 48.3% were women.

The following chart shows the number of people with health coverage by gender.

Uninsured People

1.51%

Uninsured

57.7%

Employer Coverage

2.26%

Medicaid

17.7%

Medicare

20.7%

Non-Group

0.136%

Military or VA

Between 2022 and 2023, the percent of uninsured citizens in Franklin Lakes, NJ grew by 80.4% from 0.836% to 1.51%.

The following chart shows how the percent of uninsured individuals in Franklin Lakes, NJ changed over time compared with the percent of individuals enrolled in various types of health insurance.

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