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2024 Compare Cities Economy:
Needham, MA vs Franklin Lakes, NJ

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Highlights
- Household income in Franklin Lakes, is 3% more than it is in Needham and is 63% above the National Average.
- Needham unemployment rate is 5.8%.
- Franklin Lakes unemployment rate is 7.4%.

Economy
 Needham, MAFranklin Lakes, NJUnited States
 Unemployment Rate5.8%7.4%6.0%
 Recent Job Growth4.3%-0.5%1.6%
 Future Job Growth40.8%25.3%33.5%
 Sales Taxes6.3%6.6%6.2%
 Income Taxes5.1%5.5%4.6%
 Income per Cap.$87,067$96,187$37,638
 Household Income$182,813$188,272$69,021
 Family Median Income$225,747$220,066$85,028
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 Est. Households By Income
 Needham, MAFranklin Lakes, NJUnited States
 Income Less Than 15K3.1%3.1%9.4%
 Income between 15K and 20K1.7%0.1%3.8%
 Income between 20K and 30K2.5%1.4%8.1%
 Income between 30K and 40K4.0%5.4%8.0%
 Income between 40K and 50K4.3%2.7%7.6%
 Income between 50K and 60K2.1%3.2%7.2%
 Income between 60K and 75K3.7%3.7%9.6%
 Income between 75K and 100K6.2%6.0%12.8%
 Income between 100K and 150K14.9%13.5%16.3%
 Income between 150K and 200K11.9%13.7%7.8%
 Income greater than 200K45.5%47.3%9.5%
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 Population By Occupation
 Needham, MAFranklin Lakes, NJUnited States
 Management, business, finance30.6%30.1%16.4%
 Engineering, computers, science11.7%8.0%6.5%
 Community, social services0.8%3.3%1.8%
 Legal3.1%3.0%1.2%
 Education, library12.0%7.8%6.2%
 Arts, design, media, sports, entertainment2.1%2.4%2.0%
 Healthcare practitioners and technology10.3%10.5%6.2%
 Healthcare support1.0%1.2%3.3%
 Firefighters, law enforcement0.5%0.1%2.1%
 Food preparation, serving2.1%1.6%5.4%
 Building maintenance0.5%0.3%3.6%
 Personal care1.9%2.2%2.6%
 Sales, office, administrative support17.6%24.0%20.9%
 Farming, fishing, forestry0.1%0.0%0.6%
 Construction, extraction, maintenance/repair2.5%4.6%8.1%
 Production, transportation, material moving3.1%1.0%13.1%

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Reviews for Franklin Lakes    2 Reviews

Over 14 years ago

It is a nice place to live near everything, ranches to multi million dollar home area, near all shopping, major transportation, 30 minutes to New  More

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Over 18 years ago

Franklin Lakes is a very affluent town to live in. The schools are excellent. I highly reccomend living  More

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ZIPS IN FRANKLIN LAKES, NEW JERSEY
07417

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