Franklin Lakes, NJ

Census Place

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2022 Population

11,007

0.245% 1-year decline

US Senator

Bob Menendez

Democratic Party

US Senator

Cory Booker

Democratic Party

2022 Median Age

47.6

1.04% 1-year decrease

2022 Poverty Rate

3.21%

43.8% 1-year increase

2022 Median Household Income

$204,917

8.84% 1-year growth

2022 Median Property Value

$1.14M

11.8% 1-year growth

About

In 2022, Franklin Lakes, NJ had a population of 11k people with a median age of 47.6 and a median household income of $204,917. Between 2021 and 2022 the population of Franklin Lakes, NJ declined from 11,034 to 11,007, a −0.245% decrease and its median household income grew from $188,272 to $204,917, a 8.84% increase.

The 5 largest ethnic groups in Franklin Lakes, NJ are White (Non-Hispanic) (78.2%), Asian (Non-Hispanic) (9.75%), Two+ (Hispanic) (6.28%), White (Hispanic) (2.34%), and Black or African American (Non-Hispanic) (2.17%).

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

In 2022, the median property value in Franklin Lakes, NJ was $1.14M, and the homeownership rate was 88%.

Most people in Franklin Lakes, NJ drove alone to work, and the average commute time was 35.7 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

Economy

The economy of Franklin Lakes, NJ employs 4.63k people. The largest industries in Franklin Lakes, NJ are Professional, Scientific, & Technical Services (747 people), Health Care & Social Assistance (739 people), and Finance & Insurance (619 people), and the highest paying industries are Finance & Insurance ($215,938), Professional, Scientific, & Technical Services ($157,228), and Manufacturing ($142,292).

Employment

Occupations

4.63k

2022 Value

± 488

−8.51%

1 Year decline

± 16.5%

From 2021 to 2022, employment in Franklin Lakes, NJ declined at a rate of −8.51%, from 5.07k employees to 4.63k employees.

The most common job groups, by number of people living in Franklin Lakes, NJ, are Management Occupations (948 people), Sales & Related Occupations (629 people), and Business & Financial Operations Occupations (513 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

4.63k

2022 Value

± 488

−8.51%

1 Year decline

± 16.5%

From 2021 to 2022, employment in Franklin Lakes, NJ declined at a rate of −8.51%, from 5.07k employees to 4.63k employees.

The most common employment sectors for those who live in Franklin Lakes, NJ, are Professional, Scientific, & Technical Services (747 people), Health Care & Social Assistance (739 people), and Finance & Insurance (619 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

$141,595

Median earning men ± $31,339

$61,099

Median earning women ± $8,026

The industries with the best median earnings for men in 2022 are Professional, Scientific, & Management, & Administrative & Waste Management Services ($250,001), Educational Services, & Health Care & Social Assistance ($224,196), and Finance & Insurance, & Real Estate & Rental & Leasing ($159,712).

The industries with the best median earnings for women in 2022 are Manufacturing ($119,239), Finance & Insurance, & Real Estate & Rental & Leasing ($116,250), and Wholesale Trade ($112,917).

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.

Civics

In the 2020 presidential election, the popular vote in New Jersey went to Joseph R Biden Jr. with 57.3% of the vote. The runner-up was Donald J. Trump (41.4%), followed by Jo Jorgensen (0.696%).

Bob Menendez and Cory Booker are the senators currently representing the state of New Jersey. In the United States, senators are elected to 6-year terms with the terms for individual senators staggered.

New Jersey is currently represented by 12 members in the U.S. house, and members of the House of Representives are elected to 2-year terms.

Presidential Elections

Presidential Popular Vote Over Time

Voting results are not available for Franklin Lakes, NJ. Showing the available data for New Jersey.

2020 Election Results

Joseph R Biden Jr. (57.3%)
Democratic Party
Donald J. Trump (41.4%)
Republican Party
Jo Jorgensen (0.696%)
Libertarian Party

In the 2020 presidential election, the popular vote in New Jersey went to Joseph R Biden Jr. with 57.3% of the vote. The runner-up was Donald J. Trump (41.4%), followed by Jo Jorgensen (0.696%).

The following chart shows the popular vote results in New Jersey for each registered party from 1976 to 2020.

Senator Elections

US Senators from New Jersey

Senatorial voting results are only available at the state level. Showing data for New Jersey.

Bob Menendez

Senator from New Jersey

Assumed office on January 17, 2006
Appointed to the seat following the resignation of Jon Corzine, who was elected Governor of New Jersey.

Cory Booker

Senator from New Jersey

Assumed office on October 31, 2013
Elected to the seat to succeed Jeffrey Chiesa, who had been appointed to the seat following the death of Frank Lautenberg.

Bob Menendez and Cory Booker are the senators currently representing New Jersey.

In the United States, senators are elected to 6-year terms with the terms for individual senators staggered.

The following chart shows elected senators in New Jersey over time, excluding special elections, colored by their political party.

US Representative Elections

US Representatives from New Jersey

New Jersey is currently represented by 12 members in the U.S. house.

Members of the House of Representives are elected to 2-year terms, and the following chart shows the how the members for New Jersey have changed over time starting in 2008.

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 $1.14M in 2022, which is 4.03 times larger than the national average of $281,900. Between 2021 and 2022 the median property value increased from $1.02M to $1.14M, a 11.8% increase. The homeownership rate in Franklin Lakes, NJ is 88%, which is approximately the same as the national average of 64.8%.

People in Franklin Lakes, NJ have an average commute time of 35.7 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.

Property

$1.14M

Median Property Value 2022

±$89,260

$3,316

Median Property Taxes

±$333

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%

Homeownership

2022

62%

Homeowners with Mortgage

2022

In 2022, 88% of the housing units in Franklin Lakes, NJ were occupied by their owner. This percentage declined from the previous year's rate of 88.7%.

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.

$204,917

Median Household Income

± $25,342

3.77k

Number of Households

± 431

In 2022, the median household income of the 3.77k households in Franklin Lakes, NJ grew to $204,917 from the previous year's value of $188,272.

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 2022

Drove Alone (58.6%)
Worked At Home (25.3%)
Public Transit (7.11%)

In 2022, 58.6% of workers in Franklin Lakes, NJ drove alone to work, followed by those who worked at home (25.3%) and those who used public transit to get to work (7.11%).

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

35.7 minutes

Average Travel Time

Using averages, employees in Franklin Lakes, NJ have a longer commute time (35.7 minutes) than the normal US worker (26.7 minutes). Additionally, 7.17% 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

3.21% of the population for whom poverty status is determined in Franklin Lakes, NJ (353 out of 11k people) live below the poverty line, a number that is lower than the national average of 12.5%. The largest demographic living in poverty are Females 65 - 74, followed by Males 65 - 74 and then Females 75+.

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

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

99.2% of the population of Franklin Lakes, NJ has health coverage, with 61.9% on employee plans, 2.65% on Medicaid, 18.4% on Medicare, 16.1% on non-group plans, and 0% 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 2022, insured persons according to age ranges were distributed in 26.9% under 18 years, 10.5% between 18 and 34 years, 40.9% between 35 and 64 years, and 21.6% over 64 years.

By gender, of the total number of insured persons, 50.5% were men and 49.5% were women.

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

Uninsured People

0.836%

Uninsured

61.9%

Employer Coverage

2.65%

Medicaid

18.4%

Medicare

16.1%

Non-Group

Military or VA

Between 2021 and 2022, the percent of uninsured citizens in Franklin Lakes, NJ declined by 1.89% from 0.852% to 0.836%.

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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