Cost of Living in Franklin Lakes, NJ
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
315.9
100 = national avg
+215.9 vs national average
Living Wage (1 Adult)
$139,009
per year
Living Wage (Family of 4)
$328,567
per year
Cost Index by Category
Housing400.0
Food200.0
Transportation353.1
Healthcare200.0
Utilities200.0
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$2,024
per month
2 Bedroom
$2,324
per month
The overall cost of living index in Franklin Lakes is 315.9, which is 215.9% above the national average. Housing costs are above the national average at an index of 400.0. A single adult needs to earn approximately $139,009 per year to cover basic expenses.