Franklin Lakes borough, NJ
Discover how far your salary goes in Franklin Lakes borough. Compare taxes, rent, and living costs.
11,079
10.8%
$1,890
/month
+35%
above avg
How far would your salary go in Franklin Lakes borough?
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Rent Prices in Franklin Lakes borough
Studio
$1,512
/month
$18,144/year
1 Bedroom
$1,890
/month
$22,680/year
2 Bedroom
$2,552
/month
$30,624/year
3 Bedroom
$3,308
/month
$39,696/year
Taxes in New Jersey
State Income Tax
New Jersey
For a $100k salary, that's ~$10,750/year in state taxes.
Federal Income Tax
Same nationwide
Federal taxes use progressive brackets. The more you earn, the higher your marginal rate.
Learn how tax brackets workMore Affordable Alternatives
Cities with lower cost of living where your money goes further:
Frequently Asked Questions
What is the cost of living in Franklin Lakes borough, NJ?▼
Franklin Lakes borough has a cost of living index of 168, which is 68% above the national average. A 1-bedroom apartment costs around $1,890/month.
What is the state income tax in New Jersey?▼
New Jersey has a state income tax rate of approximately 10.8%. This is in addition to federal income tax.
How much is rent in Franklin Lakes borough?▼
The median rent for a 1-bedroom apartment in Franklin Lakes borough is $1,890/month. For a 2-bedroom, expect to pay around $2,552/month. This is 35% above the national average.
Is Franklin Lakes borough a good place to live?▼
Franklin Lakes borough is a town with a population of 11,079. The cost of living is expensive, making it more expensive than average for the US.
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