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The total population of Franklin Lakes is estimated to be 11,007 with 5,604 males (50.91%) and 5,403 females (49.09%). There are 201 less females than males in Franklin Lakes.
The median household income in Franklin Lakes was $203,505 in 2021, which marked an an increase of 906(0.45%) from $202,599 in 2020. This income is 272.77% of the U.S. median household income of $74,606 (all incomes in 2022 inflation-adjusted dollars).
Per the latest American Community Survey by the Census Bureau, Franklin Lakes sees its highest median household income among householders in the age group of 45 to 64 years old, at $270,229. Overall, the median household income for the borough of Franklin Lakes stands at $203,505.
In Franklin Lakes, the median income for all workers aged 15 years and older, regardless of work hours, was $117,299 for males and $45,772 for females. However, when specifically considering full-time, year-round workers within the same age group, the median income was $196,687 for males and $94,182 for females.
In Franklin Lakes, the demographic landscape is diverse, spanning 4 distinct racial categories among households. Among these, Two or More Races households have the highest median household income at $270,229, while Black or African American households represent the opposite end with the lowest median household income of $107,624.
In 2022, the population of Franklin Lakes was 10,936, a 0.40% decrease year-by-year from 2021. Previously, in 2021, Franklin Lakes's population was 10,980, a decline of 0.58% compared to a population of 11,044 in 2020.
The median age in Franklin Lakes, NJ is 48.1, as per 2021 ACS 5-Year Estimates. Of the total population, 18.83% were under the age of 15, 16.28% aged 15 to 29, 44.36% aged 30 to 64, 18.65% aged 65 to 84, and 1.88% were 85 years of age and older.
Racial distribution of Franklin Lakes population: 81.02% are White, 1.62% are Black or African American, 9.42% are Asian, 1.73% are some other race and 6.21% are multiracial.