What is the rental vacancy rate in Franklin Township (Somerset County), NJ?
The rental vacancy rate in Franklin Township (Somerset County), NJ is 0.5% (±0.6 points) (2020–2024 American Community Survey).
The homeowner vacancy rate is 0.7% (±0.7 points).
584 (±196) homes, 2.2% of all housing units, were vacant, a count that includes seasonal homes and homes being sold or rented.
In Franklin Township (Somerset County), the rental vacancy rate went from 3.2% in 2015–2019 to 0.5% in 2020–2024 (−2.7 percentage points), a measurable decrease.
Figures last updated on .
- Rental vacancy rate
- 0.5% (±0.6 points)
- Homeowner vacancy rate
- 0.7% (±0.7 points)
- Vacant homes
- 584 (±196)
Vacancy in Franklin Township (Somerset County) against Somerset County, its state and the nation
| Franklin Township (Somerset County) | Somerset County | New Jersey | United States | |
|---|---|---|---|---|
| Rental vacancy rate | 0.5% (±0.6 points) | 2.0% (±0.8 points) | 3.5% (±0.2 points) | 5.5% |
| Homeowner vacancy rate | 0.7% (±0.7 points) | 0.3% (±0.2 points) | 0.7% (±0.1 points) | 0.9% |
| Vacant housing units | 584 (±196) | 2,837 (±431) | 283,653 (±4,943) | 14,547,859 |
The rental vacancy rate is the share of rental homes that are vacant and for rent; it leaves out homes already rented but not yet moved into, and seasonal homes.
In Franklin Township (Somerset County), the rental vacancy rate is lower than in Somerset County (2.0%).
It is also lower than in New Jersey (3.5%).
It is lower than the national figure (5.5%).
Rental vacancy rate in places near Franklin Township (Somerset County)
| Place | Distance | Rental vacancy rate | Compared with this place |
|---|---|---|---|
| Franklin Township (Somerset County) | — | 0.5% (±0.6 points) | — |
| Blackwells Mills | 2.5 mi | 0.0% (±25.5 points) | Not measurably different |
| Millstone Borough | 2.9 mi | 0.0% (±74.4 points) | Not measurably different |
| North Brunswick Township | 4.2 mi | 0.1% (±0.2 points) | Not measurably different |
| Kendall Park | 4.4 mi | 0.0% (±8.2 points) | Not measurably different |
| Manville Borough | 4.9 mi | 10.1% (±8.6 points) | Higher |
| Rutgers University-Busch Campus | 5.3 mi | 36.0% (±44.7 points) | Not measurably different |
| Deans | 5.4 mi | 0.0% (±65.9 points) | Not measurably different |
| South Bound Brook Borough | 5.5 mi | 0.0% (±5.8 points) | Not measurably different |
Nearby places with a measurably higher figure: Manville Borough, NJ (10.1%).
Distance is measured in a straight line between the Census Bureau’s internal points for each place.
Rental vacancy rate across Somerset County, place by place
| Rank | Place | Rental vacancy rate |
|---|---|---|
| 6 | Far Hills Borough | 5.2% (±6.7 points) |
| 7 | North Plainfield Borough | 1.8% (±2.0 points) |
| 8 (tie) | Bernards Township | 1.4% (±1.5 points) |
| 8 (tie) | Raritan Borough | 1.4% (±2.2 points) |
| 10 | Somerville Borough | 1.3% (±1.9 points) |
| 11 | Bedminster Township | 0.7% (±1.0 points) |
| 12 | Franklin Township (Somerset County) | 0.5% (±0.6 points) |
| 13 (tie) | Bound Brook Borough | 0.0% (±1.8 points) |
| 13 (tie) | Branchburg Township | 0.0% (±4.6 points) |
| 13 (tie) | Hillsborough Township | 0.0% (±1.3 points) |
| 13 (tie) | Millstone Borough | 0.0% (±74.4 points) |
| 13 (tie) | Montgomery Township | 0.0% (±3.4 points) |
| 13 (tie) | Peapack and Gladstone Borough | 0.0% (±20.5 points) |
Showing 13 of 21 places in Somerset County, ranked from highest to lowest.
The figures for Franklin Township (Somerset County) include the places inside it that have pages of their own: East Franklin, Franklin Center, Franklin Park, Kingston, Middlebush, Six Mile Run, Somerset, Ten Mile Run, +2.
Survey years: 2020–2024 (American Community Survey 5-year estimates), compared with 2015–2019.
Margins of error are at the 90% confidence level.
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Questions about Franklin Township (Somerset County)
Is it hard to find a rental in Franklin Township (Somerset County)?
The rental vacancy rate in Franklin Township (Somerset County), NJ is 0.5% (±0.6 points); a low rate means few rental homes stand empty and for rent at any time, which usually means more competition for each one.
Is the rental market in Franklin Township (Somerset County) tighter than it was?
In Franklin Township (Somerset County), the rental vacancy rate went from 3.2% in 2015–2019 to 0.5% in 2020–2024 (−2.7 percentage points), a measurable decrease.
How many homes are vacant in Franklin Township (Somerset County)?
An estimated 584 (±196) housing units, 2.2% of the total, including seasonal homes and homes waiting to be sold or rented.
Sources
- Selected Housing Characteristics (DP04), 2020–2024 ACS 5-year estimates — Franklin township, Somerset County, New Jersey
- Selected Housing Characteristics (DP04), 2015–2019 ACS 5-year estimates — Franklin township, Somerset 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) for Franklin township, Somerset County, New Jersey (county subdivision:24900, in state:34 county:035).
Each estimate (E or PE) has a margin of error beside it (M or PM).
The 2015–2019 figures are DP04_0005E, DP04_0005M from the 2019 release.
The API needs a free key.
DP04_0005E, DP04_0005M, DP04_0004E, DP04_0004M, DP04_0003E, DP04_0003M, DP04_0003PE, DP04_0003PM
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
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