Franklin Lakes, New Jersey Demographics & Population 2026
During the 2020–2024 ACS period, Franklin Lakes, New Jersey had a total population of 11,084, the 131st largest borough in New Jersey, with a median household income of $235,795, which is 128% higher than the state average. The poverty rate is 3.5%.
Data vintage: U.S. Census Bureau ACS 2020–2024 5-Year Estimates · refreshed July 2026 · Methodology & source notes
Key Takeaways
- Household income is 128% above the state average — one of the wealthiest communities in New Jersey.
- An exceptionally low poverty rate of 3.5% — among the lowest in New Jersey.
- 77.4% of adults hold a bachelor's degree or higher — top 10% in New Jersey.
- Near full employment with an unemployment rate of just 2.3%.
Franklin Lakes Quick Facts
How Franklin Lakes Changed
Change from the 2019–2023 ACS period to 2020–2024. These are rolling five-year estimates, not year-over-year measurements.
| Metric | 2019–2023 | 2020–2024 | Change |
|---|---|---|---|
| Population | 11,011 | 11,084 | +0.7% |
| Median household income | $230,987 | $235,795 | +2.1% |
| Median home value | $1,217,500 | $1,264,000 | +3.8% |
How Franklin Lakes Compares
Median Household Income
Median Home Value
Economy & Housing
Household Income Distribution
Detailed income brackets
Employment
Housing Overview
People & Demographics
Age Distribution
Race & Ethnicity
Diversity Index
Moderate diversity with one or two groups making up the majority.
State average: 66 | National average: 61
Education
Educational Attainment (Adults 25+)
Franklin Lakes Rankings in New Jersey
Explore New Jersey Rankings
Other Cities in Bergen County
| City | Population | Median Income | Poverty | Home Value |
|---|---|---|---|---|
| Hackensack | 46,057 | $84,277 | 12.1% | $393,700 |
| Fort Lee | 40,067 | $107,274 | 7.8% | $448,000 |
| Fair Lawn | 35,610 | $144,574 | 6.1% | $564,700 |
| Garfield | 32,783 | $79,700 | 13.4% | $475,500 |
| Englewood | 29,638 | $102,571 | 9.2% | $544,100 |
| Bergenfield | 28,450 | $130,045 | 7.1% | $491,500 |
| Paramus | 26,568 | $144,349 | 4.7% | $813,900 |
| Ridgewood | 26,308 | $208,211 | 4.2% | $891,200 |
| Lodi | 26,082 | $89,305 | 15.4% | $475,000 |
| Cliffside Park | 25,781 | $93,452 | 10.8% | $588,200 |
Cities Similar to Franklin Lakes
These cities in the same state have comparable population and economic profiles.
| City | Population | Median Income | Home Value | Bachelor's+ | Poverty |
|---|---|---|---|---|---|
| Blackwells Mills | 10,301 | $250,000+ | $735,000 | 76.2% | 1.7% |
| Martinsville | 11,559 | $205,000 | $720,400 | 70.9% | 1.4% |
| Glen Rock | 12,154 | $215,096 | $856,900 | 73.1% | 1.3% |
| Robertsville | 12,035 | $210,661 | $685,100 | 66.4% | 2.6% |
| Upper Montclair | 12,457 | $250,000+ | $989,000 | 84.7% | 1.9% |
Population Overview
Franklin Lakes is a small city located in New Jersey, within Bergen County. The total population is 11,084. It ranks as the 131st most populous out of 700 Census-designated places in New Jersey.
Age Demographics
The median age in Franklin Lakes is 46.3 years. This is 15% higher than the state median of 40.1 years.
Economy, Income & Housing
The median household income in Franklin Lakes is $235,795. This is 128% higher than the state median of $103,556. It is also 192% higher than the national median of $80,734. The poverty rate stands at 3.5%. This is 65% lower than the state poverty rate of 9.7%. This exceptionally low poverty rate indicates strong economic prosperity across the community. The unemployment rate is 2.3%. This is 64% lower than the state rate of 6.3%. The median home value is $1,264,000. Housing costs are 178% higher than the state median of $454,400. The home-value-to-income ratio is 5.4x. 88.9% of occupied housing units are owner-occupied. This homeownership rate is 39% higher than the state average of 63.8%.
Race & Ethnicity
The largest racial or ethnic group in Franklin Lakes is White (non-Hispanic), making up 71.3% of the population. Asian residents account for 12.7%. The Black or African American population (5.3%) is well below the state average of 12.2%. The Hispanic or Latino population (7.8%) is well below the state average of 22.5%.
Education
77.4% of residents aged 25 and older hold a bachelor's degree or higher. This places Franklin Lakes in the top 10% of all cities in the state for educational attainment. This is 77% higher than the state rate of 43.6%. Nationally, 35.7% of adults hold at least a bachelor's degree. The high school graduation rate (or equivalent) is 97.7%. Notably, 33.1% of adults hold a graduate or professional degree, indicating a highly educated workforce.
Data Sources & Methodology
All demographic data for Franklin Lakes, New Jersey is sourced from the U.S. Census Bureau's American Community Survey (ACS) 2020–2024 5-Year Estimates. The ACS collects data from approximately 3.5 million households annually and pools five years of responses so that even small communities can be measured, though the margin of error widens as the population falls. Comparisons are made against New Jersey state averages and national averages calculated from the same dataset. Rankings reflect the city's position among all 700 Census-designated places in New Jersey. Read more about how these figures are produced on our methodology page, or visit data.census.gov for official data.
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Frequently Asked Questions
What is the population of Franklin Lakes, New Jersey?
Franklin Lakes, New Jersey has a population of 11,084 according to the most recent U.S. Census ACS 5-Year Estimates.
What is the median household income in Franklin Lakes, NJ?
The median household income in Franklin Lakes is $235,795, which is 192% higher than the national median of $80,734.
What is the poverty rate in Franklin Lakes, NJ?
The poverty rate in Franklin Lakes is 3.5%. This means approximately 382 residents live below the federal poverty line.
What is the racial makeup of Franklin Lakes, New Jersey?
Franklin Lakes's population is 71.3% White, 5.3% Black, 7.8% Hispanic/Latino, and 12.7% Asian.
What is the median home value in Franklin Lakes, NJ?
The median home value in Franklin Lakes is $1,264,000. The home-value-to-income ratio is 5.4x.
How educated is Franklin Lakes, New Jersey?
77.4% of adults (25+) in Franklin Lakes hold a bachelor's degree or higher, and 33.1% hold a graduate or professional degree.