2025 Compare Cities Economy:
New Canaan, CT vs Franklin Lakes, NJ

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Highlights
- Household income in Franklin Lakes, is 12% less than it is in New Canaan and is 63% above the National Average.
- New Canaan unemployment rate is 5.7%.
- Franklin Lakes unemployment rate is 7.4%.
 New Canaan, CTFranklin Lakes, NJUnited States
 Unemployment Rate  Unlock7.4%6.0%
 Recent Job Growth  Unlock-0.5%1.6%
 Future Job Growth27.7%  Unlock33.5%
 Sales Taxes6.4%  Unlock6.2%
 Income Taxes  Unlock5.5%4.6%
 Income per Cap.$119,935  Unlock$37,638
 Household Income  Unlock$188,272$69,021
 Family Median Income$250,001  Unlock$85,028
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 Est. Households By Income
 New Canaan, CTFranklin Lakes, NJUnited States
 Income Less Than 15K  Unlock3.1%9.4%
 Income between 15K and 20K0.3%  Unlock3.8%
 Income between 20K and 30K  Unlock1.4%8.1%
 Income between 30K and 40K3.7%  Unlock8.0%
 Income between 40K and 50K  Unlock2.7%7.6%
 Income between 50K and 60K5.9%  Unlock7.2%
 Income between 60K and 75K  Unlock3.7%9.6%
 Income between 75K and 100K4.2%  Unlock12.8%
 Income between 100K and 150K  Unlock13.5%16.3%
 Income between 150K and 200K10.6%  Unlock7.8%
 Income greater than 200K  Unlock47.3%9.5%
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 Population By Occupation
 New Canaan, CTFranklin Lakes, NJUnited States
 Management, business, finance41.8%  Unlock16.4%
 Engineering, computers, science  Unlock8.0%6.5%
 Community, social services1.0%  Unlock1.8%
 Legal  Unlock3.0%1.2%
 Education, library7.3%  Unlock6.2%
 Arts, design, media, sports, entertainment  Unlock2.4%2.0%
 Healthcare practitioners and technology3.5%  Unlock6.2%
 Healthcare support  Unlock1.2%3.3%
 Firefighters, law enforcement0.2%  Unlock2.1%
 Food preparation, serving  Unlock1.6%5.4%
 Building maintenance1.5%  Unlock3.6%
 Personal care  Unlock2.2%2.6%
 Sales, office, administrative support20.5%  Unlock20.9%
 Farming, fishing, forestry  Unlock0.0%0.6%
 Construction, extraction, maintenance/repair0.9%  Unlock8.1%
 Production, transportation, material moving  Unlock1.0%13.1%
Reviews for New Canaan    3 Reviews

Over 15 years ago

Beautiful town with wonderful people. Great place to raise children, however, it is extremely costly to live  More

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Over 16 years ago

Agreed, cost of living is too high, too many wall streeters (which have a bad rep nowadays), and diversity is almost non-existant, public schools are average/good but  More

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Outside of the other categories, which run very well here; schools are good and competitive, climate is relatively mild, crime is very low, diversity is strong, culture  More

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Reviews for Franklin Lakes    2 Reviews

Over 15 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 19 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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