According to the most recent data on the cost of living, Franklin Lakes has an overall cost of living index of 206 which is 2.1x higher than the national index of 100.
Compared to only New Jersey, Franklin Lakes has a cost of living index that's 1.7x higher than New Jersey's index of 123.
The standard of living in Franklin Lakes ranks as #6322 most affordable out of the 6522 places we measured in New Jersey. By definition, that implies Franklin Lakes ranks as the #85 most expensive place in the Garden State.
|Living Expense||Franklin Lakes||New Jersey||National Average|
Housing swings affordability the most between places in New Jersey, so we broke down the statistics around housing costs into more detail. It's also important to consider median household incomes to make apples-to-apples comparisons across locations.
Home and income come data comes from the most recent US Census ACS 2014-2018.
|City||Population||Cost Of Living||Vs. Franklin Lakes|
|Pompton Lakes, NJ||11,049||125||0.6x|
|Dobbs Ferry, NY||11,027||165||0.8x|
|Lincoln Park, NJ||10,339||130||0.6x|
|North Haledon, NJ||8,446||141||0.7x|