At $2,613/mo, rent takes about 27% of the local median household income, comfortably within the 30% benchmark.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $2,613 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: August 17, 2026
What the numbers show
30% of the median household income ($114,946) is $2,874 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($2,620); a 3-bedroom is $3,160.
From Zillow's monthly rent index (ZORI) for Franklin Park. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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Who lives here
Franklin Park, NJ is majority owner-occupied, has a median income above the national average, 54.4% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Franklin Park, NJ has changed in 5 years
Local incomes tracked alongside that move, going from a median of $95,405 in 2021 to $114,946 more recently. The population has contracted by 3.5% since 2021, moving from about 13,686 residents to roughly 13,211. Renters now make up 44.3% of households, compared with 41.1% five years ago.
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Can you afford rent in Franklin Park on your salary?
At $2,613/mo, how Franklin Park rent compares to typical pay (30% rule).
Franklin Park rent by bedroom count
Median rent for each apartment size in Franklin Park. Click any size for full breakdown.
Tips for renters in Franklin Park
Last updated: August 17, 2026
The median rent in Franklin Park is $2,613/mo as of August 2026. A studio apartment averages $1,850/mo while a 2-bedroom runs $2,620/mo. One-bedroom apartments average $2,080/mo and 3-bedroom units go for $3,160/mo.
At 27% of local median household income ($114,946/yr), Franklin Park ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.
Frequently asked questions
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Is rent going up or down in Franklin Park?
How does Franklin Park rent compare to other cities in New Jersey?
Which nearby cities are cheaper to rent in than Franklin Park?
At $2,613/mo, rent takes ~27% of Franklin Park's median household income ($114,946/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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