Franklin Lakes, NJ has some of the highest housing median values in the United States. Currently, the housing median value is $1,213,000 which is over three times higher than the US house median value of $338,100. While the US 1 year house appreciation rate is 8.27%, Franklin Lakes has a slightly lower rate at 7.56%. This shows that even though Franklin Lakes has some of the most expensive housing in the country, they are still seeing gradual increases in value year-over-year.
The median home cost in Franklin Lakes is $1,213,000. Home appreciation the last 10 years has been 51.6%. Home Appreciation in Franklin Lakes is up 12.7%.
Average Age of Homes
- The median age of Franklin Lakes real estate is 40 years old
The Rental Market in Franklin Lakes
- Renters make up 12.5% of the Franklin Lakes population
- 0.0% of houses and apartments in Franklin Lakes, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.