About Franklin Lakes

Franklin Lakes is a somewhat small borough located in the state of New Jersey. With a population of 10,590 people and two constituent neighborhoods, Franklin Lakes is the 173rd largest community in New Jersey. There's nothing like the smell of a brand new house, and in Franklin Lakes, you'll find that a large proportion of houses were recently built. New growth in residential real estate is an indication that people are choosing to move to Franklin Lakes, and putting down their money on brand new construction. Franklin Lakes’s real estate is, on average, some of the newest in the nation. Franklin Lakes does seem to be experiencing an influx of affluent people, because the median household income is $132,373.

Franklin Lakes home prices are not only among the most expensive in New Jersey, but Franklin Lakes real estate also consistently ranks among the most expensive in America.

Franklin Lakes is a decidedly white-collar borough, with fully 90.47% of the workforce employed in white-collar jobs, well above the national average. Overall, Franklin Lakes is a borough of sales and office workers, managers and professionals. There are especially a lot of people living in Franklin Lakes who work in management occupations (21.65%), sales jobs (19.44%) and office and administrative support (10.70%).

Also of interest is that Franklin Lakes has more people living here who work in computers and math than 95% of the places in the US.

Telecommuters are a relatively large percentage of the workforce: 7.30% of people work from home. While this number may seem small overall, as a fraction of the total workforce it is high relative to the nation. These workers are often telecommuters who work in knowledge-based, white-collar professions. For example, Silicon Valley has large numbers of people who telecommute. Other at-home workers may be self-employed people who operate small businesses out of their homes.

In addition, Franklin Lakes is home to many people who could be described as "urban sophisticates", which are people who are not only wealthy and employed in professional occupations, but highly educated to boot. Urban sophisticates have urbane tastes - whether they reside in a big or small city, a suburb, or a little town. Urban sophisticates support bookstores, quality clothing stores, enjoy luxury travel, and in big cities, they are truly the patrons of the arts, attending and supporting institutions such as opera, symphony, ballet, and theatre.

Because of many things, Franklin Lakes is a great place for families with children to consider. First of all, many other families with children live here, making Franklin Lakes a place where both parents and children are more likely to develop social ties with other families, as well as find family-oriented services and community. The borough’s good public school district and large population of college-educated adults provide an environment conducive to academic values. With regard to real estate, Franklin Lakes has a high rate of owner-occupied single family homes, which tends to reflect stability in the local community. Finally, Franklin Lakes’s overall crime rate ranks among the lowest in the country, making it one of the safest places to raise a family.

In Franklin Lakes, however, the average commute to work is quite long. On average, people spend 31.29 minutes each day getting to work, which is significantly higher than the national average.

Franklin Lakes is a small borough, and as such doesn't have a public transit system that people use to get to and from their jobs every day.

Franklin Lakes Information and Demographics

Do you have a 4-year college degree or graduate degree? If so, you may feel right at home in Franklin Lakes. 52.94% of adults here have a 4-year degree or graduate degree, whereas the national average for all cities and towns is just 19.23%.

The per capita income in Franklin Lakes in 2000 was $59,763, which is wealthy relative to New Jersey and the nation. This equates to an annual income of $239,052 for a family of four.

The people who call Franklin Lakes home describe themselves as belonging to a variety of racial and ethnic groups. The greatest number of Franklin Lakes residents report their race to be White, followed by Asian. Important ancestries of people in Franklin Lakes include Italian, Irish, German, Polish, Russian and Dutch.

The languages spoken by people in Franklin Lakes are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in Franklin Lakes is English. Other important languages spoken here include Spanish, Italian and Korean.