1031 Exchange Franklin Lakes, New Jersey

New Jersey Opportunity Zones

Surrounding submarket Area

Franklin Lakes, New Jersey is a part of the Bergen County Submarket submarket area, and contains zip code 7417.

Franklin Lakes Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Franklin Lakes, NJ submarket area was $2,107, which is 20.19% higher than 2014 average rent. This represents a compounded annual growth rate of 3.75%. 2019 vacancy in Franklin Lakes, NJ was 4.00%.

The total population of the city of Franklin Lakes, NJ has grown 4.78% since 2010. As of 2018, the population was 11,096. The median household income of the Franklin Lakes was $159,883, which is 165.18% higher than the national average.

  • submarket area Bergen County Submarket
  • avg rent $2,107
  • rent growth 20.19%
  • vacancy 4.00%
  • median income $159,883
  • population (2018) 11,096
  • population growth 4.78%
  • vs. nat'l avg 165.18%
  • zip code 7417

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