Area data
Franklin, NJ — ZIP 07416
Population: 5,851 (Census ACS)
The median home value in ZIP 07416 (Franklin, NJ) is $376,590 — down 0.8% over the past year. Homes sell for a median $295,000 after a median 47 days on market. 2 schools serve the area (NCES). FEMA's National Risk Index rates the county's overall natural-hazard risk Relatively Low, with strongwind, coldwave, inlandflooding the top-rated hazards. Cost of living is 8.8% above the US average (BEA, metro/state-level).
$376,590
Median home value
-0.8%
1-year change
47
Median days on market
Relatively Low
Hazard risk (county)
Home values & appreciation
- Median home value
- $376,590
- 1-year appreciation
- -0.8%
- 3-year appreciation
- +13.9%
- 5-year appreciation
- +31.5%
- 10-year appreciation
- +105.8%
- All-time peak (2024-12)
- $380,357
- House Price Index (state)
- 447.4 (+4.5% YoY)
Sources: home value index (ZIP-level) · FHFA House Price Index (state-level)
Market activity
- Median sale price
- $295,000
- Median list price
- $377,000
- Median price per sqft
- $234
- 1-year sale-price change
- -30.6%
- Median days on market
- 47 days
- Homes sold (recent period)
- 16
- For-sale inventory
- 18
- Sale-to-list ratio
- 101.5%
- Active listings
- 15
- 1-year forecast
- +3.0%
- New listings (monthly)
- 5
Source: recent area sales and market data (ZIP-level)
Rents
- Studio fair-market rent
- $1,637/mo
- 1BR fair-market rent
- $1,850/mo
- 2BR fair-market rent
- $2,233/mo
- 3BR fair-market rent
- $2,785/mo
- 4BR fair-market rent
- $3,188/mo
Sources: market rent index (ZIP-level) · HUD Fair Market Rents (metro/county-level, 40th-percentile regulatory reference)
Affordability
- Cost of living index (Above Average)
- 108.8 (100 = US avg)
- Electricity rate (state-level)
- 22.6¢/kWh
- Natural gas rate (state-level)
- $14.20/MCF
- 30-year mortgage rate (national)
- 7.40%
- 15-year mortgage rate (national)
- 6.73%
Sources: BEA Regional Price Parities (metro/state-level) · EIA energy rates (state-level) · Freddie Mac PMMS (national)
Schools
- Total schools
- 2
- Elementary schools
- 2
- Middle schools
- 0
- High schools
- 0
- Avg student-teacher ratio
- 10.0 : 1
- School districts serving the area
- Franklin Borough School District, Hardyston Township School District
- Schools include
- Franklin Borough School, Hardyston Township Elementary School
Source: NCES school directory, 2022-23 (school-address-based)
Natural hazards & flood risk
- Overall hazard risk (county)
- Relatively Low
- Top hazards (county)
- strongWind, coldWave, inlandFlooding, lightning, winterWeather
- Notable hazard ratings (county)
- drought: Relatively Low · tornado: Relatively Low · coldWave: Relatively High · heatWave: Relatively Low · iceStorm: Relatively Low · hurricane: Relatively Low
- FEMA flood zone
- AE
- Flood risk level
- High
- Wildfire risk to homes (county)
- Higher than 36% of US counties
- Buildings in wildfire direct-exposure zone
- 79.9%
- Radon potential (county)
- High radon potential — EPA Zone 1 of 3
- EPA Superfund (NPL) sites within 5 mi
- 2
- Nearest Superfund site
- Metaltec/Aerosystems (0.2 mi)
Sources: FEMA National Risk Index (county-level) · FEMA flood data (ZIP-level) · USDA Forest Service Wildfire Risk to Communities (county-level) · EPA radon zones + Superfund NPL
Climate (30-year normals)
- Annual precipitation
- 51.7 in
- USDA plant hardiness zone
- 6b (extreme annual low -5 to 0°F)
Sources: NOAA Climate Normals (30-year, nearest-station) · USDA Plant Hardiness Zone Map (2023)
Walkability & transit
- Walkability index
- 8.2 / 20
- Transit service frequency
- -99,999
- Jobs reachable by car (30 min)
- 66,700
- Jobs reachable by transit (45 min)
- 68,676
Source: EPA Smart Location Database (metropolitan block groups)
Amenities
- National parks within ~60 mi
- 25
- Nearest national park
- Delaware Water Gap National Recreation Area (18 mi)
- National parks include
- Delaware Water Gap National Recreation Area, Morristown National Historical Park, Paterson Great Falls National Historical Park
- Airports within 30 mi
- 25
- Nearest airport
- Sussex Airport (6 mi)
- Nearest major airport
- Morristown Municipal Airport (MMU) (24 mi)
- Hospitals nearby (~15 mi)
- 92
- Hospitals include
- HACKENSACK UNIVERSITY MEDICAL CENTER, NEWARK BETH ISRAEL MEDICAL CENTER, PALISADES MEDICAL CENTER
- Avg hospital rating (CMS)
- 3.0 / 5
- Best hospital rating nearby (CMS)
- 5.0 / 5
- Solar radiation rating
- Fair (3.9 kWh/m²/day)
Sources: National Park Service · FAA airport data · CMS hospital data · DOE/NREL (proximity-based)
Migration
- Net migration (county)
- +327 tax filers
Source: IRS county-to-county migration data (county-level, ~12-month lag)
Housing stock
- Median year housing built
- 1,959
- Housing built before 1970
- 61.4%
- Housing built 2000 or later
- 8.1%
- Median annual property tax
- $7,557
- Mean commute to work
- 34 min
- Households with broadband internet
- 81.8%
Source: Census ACS 5-year estimates (ZIP-level)
Employment & development
- Total county employment
- 31,741
- Average weekly wage
- $1,139
- Top industries (by employment)
- Health Care, Accommodation & Food, Other Services
- Annual residential building permits (county)
- 96
Sources: BLS QCEW (county-level) · Census Building Permits (county-level)
How it compares
| ZIP 07416 | State median | US median | |
|---|---|---|---|
| Median home value | $376,590 | $575,446 | $288,527 |
| Median sale price | $295,000 | $555,000 | $325,000 |
| Median days on market | 47 days | 42 days | 51 days |
| Median annual property tax | $7,557 | $9,504 | $2,006 |
State and US medians are computed across all US ZIP codes with sufficient public-data coverage, from the same sources as the figures above.
Area data compiled from public government, academic, and industry research feeds. Data sources →
Common questions
- What is the median home value in ZIP 07416?
- $376,590.
- What is the median sale price in ZIP 07416?
- $295,000.
- How long do homes take to sell in ZIP 07416?
- Median days on market: 47 days.
- What is typical rent in ZIP 07416?
- 2-bedroom fair-market rent: $2,233/month (HUD FMR — a 40th-percentile regulatory reference, not market-observed).
- What is the natural-hazard risk in ZIP 07416?
- Overall risk: Relatively Low (FEMA NRI, county-level). Top hazards: strongWind, coldWave, inlandFlooding, lightning, winterWeather.
- Is ZIP 07416 in a flood zone?
- High (FEMA NFIP). FEMA flood zone AE.
- What is the wildfire risk in ZIP 07416?
- Risk to homes is higher than 36% of US counties (USDA Forest Service Wildfire Risk to Communities, county-level).
- What is the radon potential in ZIP 07416?
- High radon potential — EPA Zone 1 of 3, county-level. EPA recommends testing every home regardless of zone.
- Are there Superfund sites near ZIP 07416?
- 2 current or proposed National Priorities List sites within 5 miles (EPA). Nearest site: Metaltec/Aerosystems, 0.2 mi.
- How many schools serve ZIP 07416?
- 2 schools (2 elementary) (NCES, 2022-23).
- Is ZIP 07416 walkable?
- Walkability index: 8.2/20 (EPA Smart Location Database).
- What is the cost of living in ZIP 07416?
- Regional Price Parity: 108.8 (100 = US average) (Above Average) (BEA RPP, metro/state-level).
Nearby ZIP codes
Listing a home in Franklin, NJ?
REAIGENT7 gives every listing its own AI assistant grounded in this same public data — it answers buyer and renter questions about the home and the area, around the clock, and sends every lead to the listing agent. Agents: it installs on your listing page, your website, or WordPress.
Data last updated
Most recent source refresh: Oct 2026. See all data sources →