US5.com
  1. Home
  2. States
  3. New Jersey
  4. ZIP 07417
  5. Housing & Real Estate
Franklin Lakes borough, NJ

ZIP 07417 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Wealthy AreaLow Snow AreaRemote Work Hub

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 07417

Median Home Value
$1,218,500
Median Rent
$3,051
Affordability Snapshot
$335,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$7,827/mo PITI).

16%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

5.3x
Home Price-to-Income Ratio

Well above the 3-5x guideline — challenging for first-time buyers.

33.3 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 07417 in Franklin Lakes borough, NJ, a household would need roughly $335,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $7,827. That is about 45% above the local median household income ($231,184), so the median earner would likely stretch or need a larger down payment. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Mostly owner-occupied, low vacancy — stable housing market.

Heating Fuel
Housing Metrics
Owner Occupied
88.2%+35% vs US avg
x
Vacancy Rate
2.8%-73% vs US avg
x
Broadband Access
96.8%+11% vs US avg
x
4+ Bedrooms
36.9%+149% vs US avg
x
Built Pre-1939
1.3%-90% vs US avg
x
Built Post-2014
2.5%-63% vs US avg
x
Rent Burden >30%
31.0%-38% vs US avg
x
Mortgage-Free
32.2%-16% vs US avg
x
$1,218,500
Home Value
$3,051
Rent
1981
Year Built
2010
Moved In

Residents have lived here since ~2010 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached89.1%
  • 1-unit attached3.0%
  • 2-9 units2.1%
  • 10+ units5.4%
  • Mobile home & other0.5%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$1,218,500
Median rent$3,051
Owner-occupied88.2%
Vacant2.8%
Price-to-income5.3x
Est. income to buy$335,000