Cost of Living in Franklin Lakes, NJ
Overall index: 264 (100 = US national average). Data source: US Census ACS 2023 & BLS OEWS 2025, 2025.
Overall Cost of Living Index
Cost Breakdown by Category
| Category | Index | vs US avg | Sample cost |
|---|---|---|---|
| Housing | 350 | +250% | $2,334 |
| Transportation | 97 | -3% | $3.50 |
| Food | 309 | +209% | $1,267 |
| Utilities | 225 | +125% | $630 |
| Healthcare | 225 | +125% | $455 |
Index 100 = US national average. Higher = more expensive.
Cost breakdown (visual)
Salary Calculator: What do you need to earn in Franklin Lakes?
A single adult living comfortably in Franklin Lakes, NJ needs approximately $92,400 / year after taxes.
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Frequently Asked Questions
What is the cost of living in Franklin Lakes, NJ?
The overall cost of living in Franklin Lakes, NJ is 164% higher than the US national average (index: 264 where 100 = national average).
How much is rent in Franklin Lakes, NJ?
Average rent for a 1-bedroom apartment in Franklin Lakes, NJ is about $2,334/month.
Is Franklin Lakes, NJ expensive to live in?
Yes, Franklin Lakes, NJ is considered expensive (index above national average).
What salary do I need to live in Franklin Lakes, NJ?
A single adult needs roughly $92,400/year to cover basic living costs in Franklin Lakes, NJ.