How many renters in Franklin Lakes Borough, NJ pay more than 30% of their income on rent?
63.4% (±21.8 points) of renting households in Franklin Lakes Borough, NJ spend 30% or more of their household income on gross rent (2020–2024 American Community Survey).
48.1% spend 35% or more.
The median renting household spends 34.4% of its income on rent.
Figures last updated on .
- Paying 30% or more
- 63.4% (±21.8 points)
- Paying 35% or more
- 48.1% (±16.7 points)
- Median share of income
- 34.4% (±5.4 points)
Rent as a share of income in Franklin Lakes Borough
| Share of income spent on rent | Franklin Lakes Borough | Bergen County | New Jersey | United States |
|---|---|---|---|---|
| Less than 15% | 21.8% (±13.2 points) | 13.2% | 12.2% | 12.6% |
| 15% to 19.9% | 2.1% (±3.4 points) | 12.5% | 12.3% | 12.2% |
| 20% to 24.9% | 2.7% (±4.6 points) | 12.7% | 12.6% | 12.6% |
| 25% to 29.9% | 10.0% (±8.6 points) | 10.8% | 11.4% | 11.5% |
| 30% to 34.9% | 15.3% (±14.0 points) | 8.3% | 8.9% | 9.2% |
| 35% or more | 48.1% (±16.7 points) | 42.5% | 42.7% | 41.9% |
Households whose income could not be measured against their rent (for example, those reporting no income) are left out of these shares, as the Census Bureau leaves them out.
Franklin Lakes Borough against Bergen County, its state and the nation
| Franklin Lakes Borough | Bergen County | New Jersey | United States | |
|---|---|---|---|---|
| Paying 30% or more | 63.4% (±21.8 points) | 50.8% (±1.5 points) | 51.6% (±0.4 points) | 51.1% |
| Paying 35% or more | 48.1% (±16.7 points) | 42.5% (±1.2 points) | 42.7% (±0.4 points) | 41.9% |
| Median share of income | 34.4% (±5.4 points) | 30.5% (±0.8 points) | 30.9% (±0.3 points) | 30.6% |
| Median renter household income | $117,800 (±$27,829) | $74,953 (±$1,923) | $62,674 (±$718) | $52,966 |
| Median gross rent | $3,230 (±$207) | $1,914 (±$21) | $1,720 (±$7) | $1,413 |
In Franklin Lakes Borough, the share of renters paying 30% or more of income is not measurably different from Bergen County (50.8%).
It is not measurably different from New Jersey (51.6%).
It is not measurably different from the national figure (51.1%).
In Bergen County, Franklin Lakes Borough ranks 10 of 70 places with a published estimate, from highest to lowest share of renters paying 30% or more of income.
Statewide, it ranks 85 of 560.
Rankings use the estimates alone; where margins of error overlap, neighboring ranks may not truly differ.
Renters paying 30% or more of income in places near Franklin Lakes Borough
| Place | Distance | Renters paying 30% or more of income | Compared with this place |
|---|---|---|---|
| Franklin Lakes Borough | — | 63.4% (±21.8 points) | — |
| Wyckoff Township | 2.0 mi | 66.7% (±21.3 points) | Not measurably different |
| Oakland Borough | 2.4 mi | 57.3% (±24.8 points) | Not measurably different |
| Pines Lake | 3.1 mi | 0.0% (±136.9 points) | Not measurably different |
| North Haledon Borough | 3.2 mi | 73.6% (±34.3 points) | Not measurably different |
| Midland Park Borough | 3.5 mi | 32.7% (±14.4 points) | Lower |
| Allendale Borough | 4.1 mi | 46.9% (±34.9 points) | Not measurably different |
| Waldwick Borough | 4.2 mi | 39.1% (±23.5 points) | Not measurably different |
| Pompton Lakes Borough | 4.2 mi | 32.0% (±16.3 points) | Lower |
Nearby places with a measurably lower figure: Midland Park Borough, NJ (32.7%), Pompton Lakes Borough, NJ (32.0%).
Distance is measured in a straight line between the Census Bureau’s internal points for each place.
Renters paying 30% or more of income across Bergen County, place by place
| Rank | Place | Renters paying 30% or more of income |
|---|---|---|
| 4 | Demarest Borough | 77.9% (±37.1 points) |
| 5 | Saddle River Borough | 75.8% (±35.4 points) |
| 6 | Norwood Borough | 74.1% (±20.4 points) |
| 7 | South Hackensack Township | 74.0% (±15.8 points) |
| 8 | Ho-Ho-Kus Borough | 69.4% (±53.3 points) |
| 9 | Wyckoff Township | 66.7% (±21.3 points) |
| 10 | Franklin Lakes Borough | 63.4% (±21.8 points) |
| 11 | Montvale Borough | 62.1% (±25.2 points) |
| 12 | Carlstadt Borough | 61.7% (±18.7 points) |
| 13 | Hasbrouck Heights Borough | 60.8% (±16.9 points) |
| 14 | Dumont Borough | 60.3% (±15.6 points) |
| 15 | Bogota Borough | 59.5% (±14.9 points) |
| 16 (tie) | Emerson Borough | 59.1% (±34.8 points) |
Showing 13 of 70 places in Bergen County, ranked from highest to lowest.
Survey years: 2020–2024 (American Community Survey 5-year estimates).
Margins of error are at the 90% confidence level.
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Questions about Franklin Lakes Borough
Are renters in Franklin Lakes Borough rent-burdened?
63.4% of renting households in Franklin Lakes Borough pay 30% or more of their income in gross rent, the share housing researchers usually call rent-burdened (2020–2024 American Community Survey).
What share of income do renters in Franklin Lakes Borough spend on rent?
The median renting household in Franklin Lakes Borough, NJ spends 34.4% (±5.4 points) of its household income on gross rent.
Sources
- Selected Housing Characteristics (DP04), 2020–2024 ACS 5-year estimates — Franklin Lakes borough, Bergen County, New Jersey
- Median Gross Rent as a Percentage of Household Income (B25071), 2020–2024 ACS 5-year estimates — Franklin Lakes borough, Bergen County, New Jersey
- Median Household Income by Tenure (B25119), 2020–2024 ACS 5-year estimates — Franklin Lakes borough, Bergen County, New Jersey
To check these figures in the Census Bureau’s own API, request the variables below from the 2024 ACS 5-year data profile (acs/acs5/profile) and detailed tables (acs/acs5) for Franklin Lakes borough, Bergen County, New Jersey (county subdivision:24990, in state:34 county:003).
Each estimate (E or PE) has a margin of error beside it (M or PM).
The API needs a free key.
DP04_0136E, DP04_0136M, DP04_0137PE, DP04_0137PM, DP04_0138PE, DP04_0138PM, DP04_0139PE, DP04_0139PM, DP04_0140PE, DP04_0140PM, DP04_0141PE, DP04_0141PM, DP04_0142PE, DP04_0142PM, B25071_001E, B25071_001M, B25119_003E, B25119_003M
This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
Figures are published by the US Census Bureau, HUD, the Bureau of Labor Statistics and the FBI; Seayora reproduces them and does not adjust them, except where a sentence says it compares dollar figures after inflation. They describe the whole place, not any one building or street, and are not an appraisal, a rent determination, a tax bill, a safety rating or legal advice.
Figures last updated on .
Related
- Housing in Franklin Lakes Borough at a glance
- Median rent in Franklin Lakes Borough
- Rent by bedrooms in Franklin Lakes Borough
- Renters and owners in Franklin Lakes Borough
- Income and affordability in Franklin Lakes Borough
- Home values in Franklin Lakes Borough
- Homeowner costs in Franklin Lakes Borough
- Property taxes in Franklin Lakes Borough
- Types of homes in Franklin Lakes Borough
- Bedrooms in Franklin Lakes Borough
- Age of homes in Franklin Lakes Borough
- Heating fuel in Franklin Lakes Borough
- Commute and cars in Franklin Lakes Borough
- Crime reported to police in Franklin Lakes Borough
- Population growth in Franklin Lakes Borough
- How long people stay in Franklin Lakes Borough
- Crowding and facilities in Franklin Lakes Borough
- Fair Market Rent in Franklin Lakes Borough
- New Jersey landlord and tenant rules
- Housing across Bergen County
- New Jersey places ranked by rent burden
- Housing data for every place in New Jersey