Home Values

Franklin Lakes Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$938,200

  • -0.9% 1-year change
  • -1.0% 1-year forecast

The median home value in Franklin Lakes is $938,200. Franklin Lakes home values have declined -0.9% over the past year and Zillow predicts they will fall -1.0% within the next year. The median list price per square foot in Franklin Lakes is None. The median rent price in Franklin Lakes is $2,180, which is lower than the New York Metro median of $2,500.

Foreclosures will be a factor impacting home values in the next several years. In Franklin Lakes 1.5 homes are foreclosed (per 10,000). This is lower than the New York Metro value of 2.2 and also lower than the national value of 3.9

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Franklin Lakes is 7.1%, which is higher than the national value of 6.3%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Franklin Lakes homeowners underwater on their mortgage is 6.0%, which is lower than New York Metro at 13.1%.

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Relative ZHVI
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Franklin Lakes Market Overview

Data through Apr 30, 2015
  • $938,200 ZHVI
  • -1.0% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Apr 30, 2016)
  • No data Median listing price
  • No recent data Median sale price
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Franklin Lakes Market Health

Data through Apr 30, 2015
  • 6.1/10 Healthy
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
    (Feb 28, 2015)
  • No data Average days on Zillow
  • 6.0% Homes with negative equity (16.9% US Avg) (Dec 31, 2014)
  • 7.1% Delinquent on mortgage (6.3% US Avg) (Dec 31, 2014)

Homes foreclosed (per 10,000)

1.5 homes Franklin Lakes
2.2 homes New York Metro
3.9 homes United States
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Nearby Cities

Name Median ZHVI
Wyckoff $708,500
Mahwah $434,200
Midland Park $420,800
Name Median ZHVI
Oakland $408,100
Wayne $400,200
North Haledon $384,800
Name Median ZHVI
Hawthorne $329,400
Pompton Lakes $255,100
Haledon $239,900

Listings & Sales

  • No data
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Franklin Lakes Rentals

Data through Apr 30, 2015
  • Zillow Rent Index

  • $4,020 Franklin Lakes
    $2,372 New York Metro
    $1,364 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 5.2 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Dec 31, 2014)
  • $2,180 Rent list price
  • $2.05 Rent list price / sq ft
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