Franklin, NJ Profile: Facts & Data

The primary coordinate point for Franklin is located at latitude 41.122 and longitude -74.5804 in Sussex County. The formal boundaries for the Borough of Franklin encompass a land area of 4.36 sq. miles and a water area of 0.07 sq. miles. Sussex County is in the Eastern time zone (GMT -5). The elevation is 600 feet.

The Borough of Franklin has a C5 Census Class Code which indicates an active incorporated place that is independent of any county subdivision and serves as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.

Franklin, NJ Data & Demographics (As of July 1, 2022)

POPULATION
Total Population	4,759 (100%)
Population in Households	4,752 (99.9%)
Population in Families	3,908 (82.1%)
Population in Group Quarters¹	7 ( 0.1%)
Population Density	1,093
Diversity Index²	50


INCOME
Median Household Income	$76,350
Average Household Income	$97,113
% of Income for Mortgage⁴	17%
Per Capita Income	$41,203
Wealth Index⁵	85

HOUSING
Total HU (Housing Units)	2,168 (100%)
Owner Occupied HU	1,582 (73.0%)
Renter Occupied HU	437 (20.2%)
Vacant Housing Units	149 ( 6.9%)
Median Home Value	$238,776
Average Home Value	$248,720
Housing Affordability Index³	102

HOUSEHOLDS
Total Households	2,019
Average Household Size	2.35
Family Households	1,339
Average Family Size	3.00

NOTES

Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.

Franklin, NJ - Peer Comparisons by Rank and Percentile

The table below compares Franklin to the other 701 incorporated cities, towns and CDPs in New Jersey by rank and percentile using July 1, 2022 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

GROWTH RATE / YEAR	2020-2022	2022-2027
Population	-1.40%	-0.35%
Households	-0.61%	-0.10%
Families		-0.12%
Median Household Income		1.72%
Per Capita Income		2.46%
Owner Occupied HU		0.18%

Variable Description	Rank	Percentile
Total Population	# 301	57th
Population Density	# 482	31st
Median Household Income	# 539	23rd
Housing Affordability Index	# 310	44th
Per Capita Income	# 517	26th
Diversity Index	# 357	49th

Franklin, NJ Profile: Facts & Data

Franklin, New Jersey - Basic Facts

Franklin, NJ Data & Demographics (As of July 1, 2022)

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

Franklin, NJ - Peer Comparisons by Rank and Percentile

Franklin, NJ - Most Popular Things to Do

Use HTL Address Research for a New Jersey Address and get...

Quick & Easy Ways to...

New Jersey Census Data Comparison Tool

Sussex County