Franklin Park, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Franklin Park Neighborhoods Since 2000




Franklin Park, NJ Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Franklin Park Housing Market Information

With 14,071 people, 5,718 houses or apartments, and a median cost of homes of $405,463, real estate costs in Franklin Park are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive New Jersey communities.

Row houses and other attached homes are the single most common housing type in Franklin Park, accounting for 39.88% of the town's housing units. Other types of housing that are prevalent in Franklin Park include large apartment complexes or high rise apartments ( 35.77%), single-family detached homes ( 13.04%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 11.31%). Towns that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of towns are often walkable and compact, and often have a lively downtown.

People in Franklin Park primarily live in small (one, two or no bedroom) row houses and other attached homes. Franklin Park has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Franklin Park built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Franklin Park built between 2000 and later ( 17.01%). A lesser amount of the housing stock also hails from between 1940-1969 ( 4.18%). There's also some housing in Franklin Park built before 1939 ( 2.79%).

Franklin Park Home Appreciation Rates

Franklin Park's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Franklin Park during the period has been just -1.28%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Franklin Park's appreciation rate, at 3.87%, has been at or slightly above the national average. In the latest quarter, Franklin Park's appreciation rate has been 0.66%, which annualizes to a rate of 2.68%.

Relative to New Jersey, our data show that Franklin Park's latest annual appreciation rate is higher than 60% of the other cities and towns in New Jersey.

Average Home Values

 

Median Home Value:
$405,463

Franklin Park, NJ HOME PRICES

Value Range
> $1,090,000 1.6
$818,001 - $1,090,000 1.3
$545,001 - $818,000 20.4
$436,001 - $545,000 7.5
$327,001 - $436,000 21.1
$218,001 - $327,000 34.3
$109,001 - $218,000 10.6
$55,001 - $109,000 1.5
$0 - $55,000 1.6

High for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
9.25231454353686 39.2276422764228

Number Of Homes And Apartments:
5,718

Franklin Park Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NJ*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
54.78% 2.56% 6 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,433 / per month

Homeownership Rate

Homeownership
Owners 53.38
Renters 46.62
Vacant 5.58

Housing Market Details

 

Age of Homes

AGE OF Franklin Park HOMES
2000 or Newer 17.0
1970 - 1999 76.0
1940 - 1969 4.2
1939 or Older 2.8

Types of Homes

TYPE OF Franklin Park HOMES
Single-Family 13.0
Townhomes 39.9
Small Apt. Buildings 11.3
Apt. Complexes 35.8
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Franklin Park HOMES
No Bedroom 0.00
1 Bedroom 14.04
2 Bedrooms 48.99
3 Bedrooms 30.98
4 Bedrooms 5.18
5 or more bedrooms 0.81