Franklin Lakes is a somewhat small borough located in the state of New Jersey. With a population of 10,899 people and two constituent neighborhoods, Franklin Lakes is the 196th largest community in New Jersey.
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 93.52% 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 (22.84%), sales jobs (17.40%), and office and administrative support (13.84%).
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.
Franklin Lakes is a good choice for families with children because of several factors. Many other families with children live here, making it a place where both parents and children are more likely to develop social ties with other families. The borough’s good public school district and large population of college-educated adults provide an environment conducive to academic success. Many people own their own single-family homes, providing areas for children to play and stability in the 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.
One downside of living in Franklin Lakes is that it can take a long time to commute to work. In Franklin Lakes, the average commute to work is 31.16 minutes, which is quite a bit higher than the national average. On the other hand, local public transit is widely used in the borough, so leaving the car at home and taking transit is often a viable alternative.
Even though Franklin Lakes is a smaller borough, it has many people who hop on public transportation – mostly the bus for their daily commute to work. Typically, these people are commuting to good jobs in the surrounding cities.
If knowledge is power, Franklin Lakes is a pretty powerful place. 66.37% of the adults in Franklin Lakes have earned a 4-year college degree, masters degree, MD, law degree, or even PhD. Compare that to the national average of 21.84% for all cities and towns.
The per capita income in Franklin Lakes in 2010 was $85,237, which is wealthy relative to New Jersey and the nation. This equates to an annual income of $340,948 for a family of four.
Franklin Lakes is a somewhat ethnically-diverse borough. 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 Irish, German, English, and Polish.
Franklin Lakes also has a high percentage of its population that was born in another country: 18.10%.
The most common language spoken in Franklin Lakes is English. Other important languages spoken here include Spanish and Korean.