At $2,950/mo, rent takes about 25% 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 $2,950 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: September 25, 2026
What the numbers show
30% of the median household income ($143,263) is $3,582 a month. That covers HUD's Fair Market Rent for up to a 3-bedroom ($2,169).
From Zillow's monthly rent index (ZORI) for Franklin Square. 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 Square, NY is majority owner-occupied, has a median income above the national average, 38.4% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Franklin Square, NY has changed in 5 years
Household income in the area moved from $123,334 to $143,263 across the same window, up 16.2% versus 2021. Census counts show Franklin Square, NY losing about 1,484 residents over the five-year window, down 4.6% on net.
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Can you afford rent in Franklin Square on your salary?
At $2,950/mo, how Franklin Square rent compares to typical pay (30% rule).
Franklin Square rent by bedroom count
Median rent for each apartment size in Franklin Square. Click any size for full breakdown.
Tips for renters in Franklin Square
Last updated: September 25, 2026
The median rent in Franklin Square is $2,950/mo as of September 2026. a 2-bedroom runs $2,140/mo. One-bedroom apartments average $1,345/mo and 3-bedroom units go for $2,169/mo.
At 25% of local median household income ($143,263/yr), Franklin Square ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.
Frequently asked questions
How much income do you need to rent in Franklin Square?
Is rent going up or down in Franklin Square?
How does Franklin Square rent compare to other cities in New York?
At $2,950/mo, rent takes ~25% of Franklin Square's median household income ($143,263/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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