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City Report · NJ

Franklin Park

Pop. 13,211·91st most expensive in New Jersey·One of the pricier rental markets in the US
Median rent (all units)
$2,613/mo
Year-over-Year
Stable
Month-over-Month
-2.2%
vs US Median
+$651
Falling (Monthly)
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Most AffordableMost Expensive
Franklin Park · $2,613
More expensive than 82% of US cities · National median $1,962/mo
Affordability
27% of income
AFFORDABLE
0%30% benchmark60%+

At $2,613/mo, rent takes about 27% of the local median household income, comfortably within the 30% benchmark.

Income to afford
$105,000/yr
Local median income
$114,946/yr
Based on the 30%-of-income rule using Franklin Park's median rent and household income. See the full affordability breakdown →
Medians by bedroom

Rent by unit size

Studio
$1,850
1 BR
$2,080
2 BR
$2,620
3 BR
$3,160
4 BR+
$3,470
Fair Market Rent (HUD)
$2,620/mo

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 →

Rent trends

12-month history

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Last updated: August 17, 2026

Annual cost
$31,356/yr
At $2,613/mo median
Rent Market Meter
Renter's Market
Renter's MarketBalancedLandlord's Market
Rents are softening (down 0.0% YoY), so renters have negotiating leverage.
Based on rent-price momentum (+0.0% YoY, -2.2% MoM), not inventory.
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Demographics

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.

Population
13,211
Median income
$114,946
Median age
37.1
Renters
44.3%
Age distribution
19.9%
24.3%
28.2%
14.9%
12.7%
Under 1819.9%
18–3424.3%
35–5428.2%
55–6414.9%
65+12.7%
Gender
47.6%
52.4%
Male47.6%
Female52.4%
Race & ethnicity
18.2%
24.1%
13.8%
40.3%
White18.2%
Black24.1%
Hispanic13.8%
Asian40.3%
Other3.7%
Education (25+)
16.3%
23.8%
54.4%
No HS diploma5.5%
HS diploma16.3%
Some college23.8%
Bachelor's+54.4%
Housing tenure
55.7%
44.3%
Owner55.7%
Renter44.3%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Franklin Park, NJ has changed in 5 years

Income
$95,405 → $114,946
up 20.5%
Population
13,686 → 13,211
down 3.5%
Renter share
41.1% → 44.3%
+3.2 pts
Bachelor's+
55.8% → 54.4%
-1.4 pts
Median age
36.2 → 37.1
+0.9 yrs

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.

Community

Discussions about Franklin Park

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View Franklin Park rent history (2015–2026) →
Salary vs rent

Can you afford rent in Franklin Park on your salary?

At $2,613/mo, how Franklin Park rent compares to typical pay (30% rule).

By apartment size

Franklin Park rent by bedroom count

Median rent for each apartment size in Franklin Park. Click any size for full breakdown.

Local insights

Tips for renters in Franklin Park

About renting in Franklin Park, NJ

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.

FAQ

Frequently asked questions

Is Franklin Park an affordable city for renters?

Franklin Park is considered affordable for renters. At $2,613/mo, rent takes approximately 27% of the local median household income ($114,946/yr). The standard benchmark is 30%. Franklin Park falls comfortably within that range.

How much income do you need to rent in Franklin Park?

To keep rent at or below 30% of gross income, you would need to earn at least $105,000/year (~$50/hour full-time) to afford the median rent of $2,613/mo in Franklin Park. The local median household income is $114,946/yr, meaning the typical Franklin Park household meets that threshold.

Is rent going up or down in Franklin Park?

Rent in Franklin Park has been relatively stable over the past year, with a 0.0% change year over year as of August 2026.

How does Franklin Park rent compare to other cities in New Jersey?

Franklin Park is middle-of-the-pack for New Jersey for rent, ranking #91 out of 183 tracked cities at $2,613/mo.

Which nearby cities are cheaper to rent in than Franklin Park?

Several nearby cities have lower median rents than Franklin Park ($2,613/mo): Plainsboro ($2,131/mo), Monmouth Junction ($2,528/mo), North Brunswick ($2,608/mo).

What percentage of Franklin Park residents rent vs. own?

According to Census data, approximately 44.3% of Franklin Park households are renters, while 55.7% are owner-occupied. Franklin Park leans toward homeownership, which can mean a smaller rental inventory.

How does Franklin Park rent compare to the national average?

Franklin Park's median rent of $2,613/mo is $651 (33%) above the US national median of $1,962/mo. Within New Jersey, it ranks #91 out of 183 tracked cities.
Income Affordability
27%
AFFORDABLE

At $2,613/mo, rent takes ~27% of Franklin Park's median household income ($114,946/yr). The standard benchmark is 30%.

Franklin Park 27%Benchmark 30%
State income tax1.4–10.75%
Run the Franklin Park affordability calculator →
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Franklin Park, NJ

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